Newsletter Articles

Upcoming Compliance Deadlines

February 202028thForm 1099-R – The Form 1099-R is due for any distributions that occurred during the 2019 calendar year. Note: Participant Loans that are in default may be considered “deemed” distributions and are reportable on Form 1099-R.March 202015thADP/ACP...

How the SECURE Act is Changing Retirement

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006, over...

The Final Rule on Hardship Distributions

On Sept. 23rd, the IRS published a final rule that relaxes several existing restrictions on participant hardship distributions from defined contribution plans. Some of these changes are mandatory, requiring employers to make the changes by Jan. 1st, 2020, while others...

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

2019 Newsletter December 20191stParticipant Notices – Annual notices due for Safe Harbor elections, Qualified Default Contributions (QDIA), and Automatic Contribution Arrangements (EACA or QACA).31stParticipant Notices – Annual notices due for ERISA 404(c) and Fee...

Safe Harbor 401(k) Plan Design

Being the bearer of bad news isn’t fun. When the third-party administration firm relays that aspects of the annual compliance testing have failed causing many of the company’s executives to receive taxable distributions from the plan, it isn’t a great day for the HR...

IRS Announces Limits for 2020

On November 6th, 2019, the IRS announced the cost of living adjustments affecting the dollar limitations for retirement plans. Contribution and benefit increases are based on a calculated change in the Consumer Price Index and are intended to allow participant...

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

September 2019 15thMoney Purchase Pension, Target Benefit Pension, and Defined Benefit Plans — Required contribution to Money Purchase Pension, Target Benefit Pension, and Defined Benefit Plans (8-1/2 months after plan year-end) and 2018 employer profit sharing and...

It’s All in the Design…

The economy continues at its strong pace, keeping unemployment at its lowest rate in nearly 50 years. While this is usually good news, employee financial vulnerability is clouding this sunny forecast. The repercussions are impacting their ability to save for...

Complying with Safe Harbor Deadlines

All 401(k) plan contributions have deposit deadlines, and it’s up to 401(k) fiduciaries to meet them. Yet, many are unclear about the deadlines applicable to their 401(k) plan. That confusion can easily lead to late contributions. Most of the confusion surrounds the...

Bucket List: Retirement

The economy continues at its strong pace, keeping unemployment at its lowest rate in nearly 50 years. While this is usually good news, employee financial vulnerability is clouding this sunny forecast. The repercussions are impacting their ability to save for...