Articles — Ascensus

DOL Extends Transition Period for Key Fiduciary Rule Requirements to Mid-2019

The applicability date of several key elements of the Department of Labor (DOL) investment fiduciary guidance has been extended from January 1, 2018, to July 1, 2019. The additional 18-month transition period specifically applies to the controversial Best Interest Contract (BIC) exemption, to the “principal transactions” exemption for asset transactions between investment fiduciaries and employee benefit plans (including IRAs), and to certain proposed restrictions on annuities offered as retirement investments.

Employer Plan, IRA, ESAAscensusJanuary 9, 2018News, Compliance & Operations, DOL, IRS, Tax, Retirement Plan, IRA, Fiduciary, Guidance & Legislation

Profit Sharing Allocation Formulas

My client currently has a deferral-only 401(k) plan and is looking to add a discretionary profit sharing feature to maximize his total contributions. What are the basic allocation formula options?

expert, Employer PlanAscensus -October 5, 2017401(k) Plan, Compliance & Operations, Profit Sharing Plan, Q&A

Retirement Plan Year-End Deadlines Soon Occurring

The last three months of the year are busy months for retirement plan administrators of calendar-year retirement plans and for employers sponsoring savings incentive match plan for employees of small employers (SIMPLE) IRA plans.

Not Always so Easy— When to Use SIMPLE Codes for SIMPLE IRA Reporting

Most financial organizations are familiar with Traditional and Roth IRA distributions, but they may not be as familiar with SIMPLE IRA distributions.

IRA, Employer PlanAscensus -September 29, 2017Reporting, Compliance & Operations, SIMPLE IRA Plan

Retirement Plan Relief for Hurricanes Harvey and Irma

The Department of Labor (DOL) released guidance on August 31, 2017, for retirement savings arrangements whose administrative procedures may have been disrupted in the wake of Hurricane Harvey in the Houston, Texas, area in recent days.

Employer PlanAscensus -September 28, 2017News, 401(k) Plan, DOL, Qualified Retirement Plan

Major Changes to Qualified Retirement Plan Pre-Approved Document Program

The IRS released Revenue Procedure (Rev. Proc.) 2017-41 on June 30, 2017, describing its revamped pre-approved qualified retirement plan document program.

Employer PlanAscensus -September 28, 2017News, Qualified Retirement Plan, Documents & Amendments, Washington Pulse