Can employers exclude certain employees from a 401(k) plan? What should they consider? What if excluding a class of employees causes a plan to fail coverage testing and how can a plan failure be corrected if a group of employees was improperly excluded?
Read MoreTwo lawsuits have recently been filed seeking to invalidate the U.S. Securities and Exchange Commission’s new fiduciary standards.
Read MoreIf you offer retirement plans for employers, you have the opportunity to serve as a valuable resource for employers looking to better communicate with employees about increasing their plan participation.
Read MoreWhat is the new comparability profit sharing formula? Find out how an employee’s compensation, plan document provisions, and changes in the employer’s workforce affect the calculation.
Read MoreA substantial percentage of small businesses do not offer a retirement plan. Many small business owners perceive setting up and running a retirement plan to be complicated and daunting. But they may not be aware of the SIMPLE IRA plan and how it is generally easier and less expensive to maintain.
Read MoreAre your business owner clients and their employees getting the most out of their retirement plans? You can provide good customer service by suggesting that your clients become more familiar with the benefits of increased plan participation.
Read MoreThe DOL has issued final regulations on multiple employer plans, under which more than one employer may be treated as a single employer for purposes of retirement plan participation.
Read MoreCan employees make up missed contributions to an employer-sponsored retirement plan for the time they were called to active military duty? Can a plan sponsor adopt special distribution options for employees called to active military duty? Are there special allowances for loan repayments for an employee called to active military duty?
Read MoreBanks and credit unions can connect with small employers by offering a retirement savings plan suited for small businesses, such as a SEP plan. A SEP plan has many of the same advantages of other employer-sponsored retirement plans, but generally is easier and less expensive to maintain.
Read MoreThe IRS has issued proposed regulations on multiple employer plans. One key revision provides that a compliance failure on the part of one employer will not jeopardize the entire MEP.
Read MoreWhat is a forfeiture account in a qualified retirement plan and how can the employer use forfeiture account funds?
Read MoreThe Securities and Exchange Commission recently released a guidance package for broker-dealers and investment advisers who provide investment recommendations and investment advisory services to clients. The guidance clarifies the standard of conduct for investment advisers.
Read MoreThe Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 passed the House of Representatives. The Senate will now take up a similar bill—the Retirement Enhancement and Savings Act of 2019, or RESA. SECURE and RESA would make many significant changes to the retirement savings landscape.
Read MoreLocating missing plan participants is one of many challenges retirement plan fiduciaries and their third party administrators face. With a written policy and consistent procedures, a retirement plan can establish best practices to handle missing plan participants.
Read MoreWhy are the recent changes to the IRS retirement plan correction program important? What are the changes to the EPCRS?
Read MoreThe IRS has expanded the availability of self-correction options under the Employee Plans Compliance Resolution System in a move to increase plan compliance and reduce costs for employers.
Read MoreThe IRS has provided guidance that expands its determination letter program with the addition of two plan categories that plan sponsors can use to request a determination letter other than when the plan is established or terminated.
Read MoreWhat options are there for adding an automatic enrollment feature to a 401(k) plan? What happens if an employee is not enrolled in the plan’s automatic enrollment feature?
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