A Strongpoint Partner

Newsletter Articles

Upcoming Compliance Deadlines for Calendar-Year Plans

September 15thRequired contribution to Money Purchase Pension Plans, Target Benefit Pension Plans, and Defined Benefit Plans.Contribution deadline for deducting 2022 employer contributions for those sponsors who filed a tax extension for Partnership or S-Corporation...

Are Changes Needed to the Plan?

As time goes by, the needs of a company and the needs of the participants evolve, and a plan may need to be amended to keep up with those changes. This is a good time of year to review plan provisions and determine if any changes are needed before the next plan year....

It doesn’t hurt to double check! We’re here for you!

As situations arise during the plan year, it’s always better to double check the plan provisions rather than address a plan failure after the fact. In some situations, it’s easier to ask for forgiveness rather than permission, but that isn’t true in retirement plans....

Bonds: Is your plan covered?

The Employee Retirement Income Security Act (ERISA) requires coverage to protect the plan from losses due to fraud and dishonesty. There are three main types of bond coverage for retirement plans: fidelity bonds, fiduciary liability insurance, and cyber liability...

Upcoming Compliance Deadlines for Calendar – Year Plans

May 15thQuarterly Benefit Statement - Deadline 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...

News Flash!

Defined Contribution plans: Form 5500 news! Effective for plan years beginning on or after January 1, 2023, the determination of a large or small plan will be based on the number of participants with an account balance as of the beginning of the year, rather than the...

Beneficiary on File?

As part of the enrollment process, participants are asked to elect a beneficiary. However, this step is often not completed or kept up to date as time goes on, which can make death distributions more complicated than they need to be. When a participant names a...

Plan Participants: The More They Know, The Better

As a plan sponsor, do you feel your employees have a clear understanding of the company’s retirement plan? Do most utilize it as a tool to save for retirement—and, if not, do they understand the benefit that they are missing? According to the 2022 PLANSPONSOR...

Secure 2.0 Webinar

The register link will now take you to our interactive Secure 2.0 website, which includes the webinar recording and other useful information.

Upcoming Compliance Deadlines for Calendar-Year Plans

February 28thIRS Form 1099-R Copy A – Deadline to submit 1099-R Copy A to the IRS for participants and beneficiaries who received a distribution or a deemed distribution during the prior plan year. This deadline applies to scannable paper filings. For electronic...