May an individual roll over his 401(k) balance to a Puerto Rico retirement savings plan without tax consequences? May a Puerto Rico plan be moved to a 401(k) plan as a tax-deferred rollover?
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The IRS recently released the 2020 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2020.
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One way that your employer plan clients can turn around low participation rates in their retirement plans—and save more—is by implementing automatic enrollment.
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The IRS recently issued a notice of proposed rulemaking for updating life expectancy tables that are used when determining required minimum distributions.
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The DOL recently issued proposed regulations intended to make it easier for employers to meet notification requirements when providing electronic retirement plan disclosures to plan participants and beneficiaries.
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For the next few months your organization may see an increase in RMD questions and transactions. Take a few minutes now to learn (or relearn) some basic RMD rules.
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The U.S. Social Security Administration has announced a cost-of-living increase for 2020 to several of its benefit amounts, including the Social Security taxable wage base.
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The IRS recently issued final regulations that make retirement plan assets more accessible to those experiencing financial hardship. Employers should become familiar with the revised hardship requirements.
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One way that your employer plan clients can help motivate employees to jump-start their retirement saving and participate in the plan is by spreading the word about the saver’s credit and its benefits.
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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?
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Two lawsuits have recently been filed seeking to invalidate the U.S. Securities and Exchange Commission’s new fiduciary standards.
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If 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.
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What 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.
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A 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.
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Are 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.
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The 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.
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Can 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?
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Banks 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.
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