Newsletter Articles

Protect Your 401(k)

Though some employers may not think so, the truth is that in today's world 401(k) plans are subject to fraudulent activity and that the often-overlooked retirement plan can be the perfect place for it to occur. For example, in late 2017, several news outlets reported...

Upcoming Compliance Deadlines for Calendar-Year Plans (12/31)

May 201915thDeadline for participant-directed plans to supply participants with the quarterly benefit/disclosure statement including a statement of plan fees and expenses charged to individual plan accounts during the first quarter of this year. July 20191stEACA...

Automatic Enrollment is on the Rise

With the future of Social Security in question, it is becoming ever increasingly important for workers to self- prepare for post-retirement living. Studies show that approximately one out of every three eligible workers choose NOT to participate in their...

The 401(k) Turns 40

In 2018, the 401(k) plan celebrated its 40th birthday! Though extremely popular today, 401(k) plans came about almost by accident. IRC Section 401(k) was passed into law as part of the Revenue Act of 1978 and was included to limit executive compensation. However, in...

Know Your Options

If your plan offers a Roth 401(k) provision, your participants might ask, “Which one is better for me?” As the availability of Roth options in 401(k) plans and Roth contribution percentages continue to rise, it’s important to be able to guide participants in making...

Upcoming Compliance Deadlines for Calendar-Year Plans (12/31)

February 201928thForm 1099-R – The Form 1099-R is due for any distributions that that occurred during the 2018 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R.March 201915thADP/ACP...

It’s Testing Season!

Qualified plans must perform annual testing to be sure that the plan doesn’t unfairly discriminate in favor of “highly compensated employees” (HCEs) or exceed the contribution limits set forth by the IRS. Depending on your plan provisions, it isn’t just one calculation, but a series of tests that show that your plan is not discriminatory. If your plan is audited, the auditor is looking for proof of this compliance.

The Retirement Income Gap / Helpful Hints for Plan Sponsors

The Retirement Income Gap What can cause a shortfall? Social Security - Timing is Everything What happens if you claim early? Retirement Accounts What can employees do to boost their savings? Helpful Hints for Plan Sponsors Upcoming Compliance Deadlines...

Who is an Employee? / HSA vs 401(k)

In this article: Who is an Employee? Employee Definitions HSA vs 401(k) Comparison Chart Upcoming Compliance Deadlines Who is an Employee? Maintaining a retirement plan for your employees is no easy task. At various points during the year, employers and HR...