Timing of Deposits 401(k)/403(b) Deferrals and Loan Repayments

Timing of Deposits 401(k)/403(b) Deferrals and Loan Repayments

  • 4/2/2022 1:06:00 PM
Timing of Deposits 401(k)/403(b) Deferrals and Loan RepaymentsNew Information on Participant Statements: Lifetime Income Illustrations Timing of Deposits 401(k)/403(b) Deferrals and Loan RepaymentsOne of the questions asked by your TPA during the annual census collection may be whether your participant contributions and loan payments were transmitted within the Department of Labor (DOL) safe harbor time frame.It’s an important question because both the DOL and the Internal Revenue Ser...
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2022 – An Ideal Time to Review Plan Design

2022 – An Ideal Time to Review Plan Design

  • 1/2/2022 1:03:00 PM
2022 - An Ideal Time to Review Plan DesignSECURE Act Provisions for Long-Term Part-Time EmployeesNavigating the Labyrinth of Required Minimum Distributions 2022 – An Ideal Time to Review Plan DesignEach year, those in the retirement community collect, analyze and calculate data to ensure plan compliance with the laws that govern qualified retirement plans. The calendar of deadlines repeats each year, challenging plan sponsors and service providers to focus on the current plan com...
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The MEP/PEP Debate: Are We Better Together?

The MEP/PEP Debate: Are We Better Together?

  • 12/3/2021 12:59:00 PM
The MEP/PEP Debate: Are We Better Together?Terminated Employees? Important Relief is Here.Is There Pandemic Relief For Late Deposits? The MEP/PEP Debate: Are We Better Together?When we talk about retirement plans, many employers think of single employer retirement plans. A single employer retirement plan is simply a plan sponsored by one employer (or a related group of employers) for the benefit of its employees. In contrast, a multiple employer plan (MEP) is a retirement plan that is spons...
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Save More for Retirement in 2022

Save More for Retirement in 2022

  • 10/2/2021 12:57:00 PM
Save More for Retirement in 2022Form 5500 Filing Extension for FEMA Designated Disaster AreasParticipant Distribution Fraud in the “New Normal” Save More for Retirement in 2022On November 4, 2021, the IRS announced the Cost of Living Adjustments affecting the dollar limitations for retirement plans for 2022. In October, the Social Security Administration announced a benefit increase of 5.9%, the largest increase in nearly 40 years. Following suit, many retirement plan limit...
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Missing Participants: Ready or Not, Here I Come!

Missing Participants: Ready or Not, Here I Come!

  • 7/2/2021 12:52:00 PM
Missing Participants: Ready or Not Here I Come!Safe Harbor: A Cure For Your Testing HeadachesLooking to Maximize Savings? Cash Balance Could Be the Answer! Missing Participants: Ready or Not, Here I Come!Most plan sponsors can relate to the trials and tribulations of having missing participants in their retirement plan. At times, it may feel like you are on the losing end of an intense game of hide-and-seek. Your opponents, the missing participants, may not have intended to pick the be...
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Retirement Planning is a Team Sport

Retirement Planning is a Team Sport

  • 5/1/2021 3:29:00 PM
Some would say that retirement plan administration is a team sport! Putting together technical and compliance competence with ongoing investment and fiduciary expertise is key to keeping your plan healthy and participants happy. So, what roles and responsibilities should you look to fill for your firm to have a successful and compliant plan?

The first and most important role is you, the Plan Sponsor. Plan Sponsors elect to establish the plan and offer it to thei...

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How the SECURE Act is Changing Retirement

How the SECURE Act is Changing Retirement

  • 12/2/2020 1:50:00 PM
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 thirteen years ago. The provisions of the Act are broad ranging and span many different effective dates.Financial Help for Plan SponsorsThough tax credits have been in place to help offset the cost of adopting a new retirement plan, the SE...
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Understanding the CARES Act

Understanding the CARES Act

  • 4/1/2020 1:47:00 PM
Understanding the CARES ActAsk the ExpertsUnderstanding the CARES ActOn Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic, was signed into law. Besides the generalized financial relief afforded to individuals, as well as loans and other concessions for businesses, the bill includes the following provisions to help participants and employer sponsors of retirement plans.Coron...
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