Articles — Ascensus

Rollovers Between Puerto Rico and U.S. Retirement Savings Plans

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?

Employer Plan, expertAscensusDecember 19, 2019Compliance & Operations, Retirement Plan, Distribution, Q&A, Rollover

IRA Contribution Eligibility Flow Chart

Quick Reference Tool: This flow chart helps individuals determine whether they are eligible for a Roth IRA contribution or a Traditional IRA deduction—or both—based on their modified adjusted gross income.

IRAAscensusDecember 4, 2019Traditional IRA, Roth IRA, Eligibility, Deduction

Many IRA and Retirement Plan Limits Will Increase for 2020

The IRS recently released the 2020 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2020.

Removing HSA Excess Contributions

HSA excess contributions may lead to questions from your HSA clients about how to handle the excess. Before you help clients address this issue, a basic overview of how to remove and report HSA excess contributions may be helpful.

HSAAscensusNovember 21, 2019Compliance & Operations, HSA, Excess Contribution, Reporting

Strengthen Plan Participation with Automatic Enrollment

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.

IRS Proposes Updated Life Expectancy Tables for Required Distributions

The IRS recently issued a notice of proposed rulemaking for updating life expectancy tables that are used when determining required minimum distributions.

Delivering DOL Disclosures May Get Easier

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.

What to Know About Trusts as IRA Beneficiaries

What is a trust and why would someone name a trust as an IRA beneficiary? What distribution options does a trust beneficiary of an IRA have? How are distributions to a trust reported to the IRS? Can the underlying beneficiaries of a trust set up their own inherited IRAs?

expert, IRAAscensusNovember 21, 2019Compliance & Operations, IRA, Beneficiary, Distribution, Q&A

The Sarbanes-Oxley Blackout Notice and Its Requirements

What is a Sarbanes-Oxley blackout notice? What is a blackout period? What information must be included in the blackout notice? What are the potential consequences of not providing a timely blackout notice?

expert, IRAAscensusNovember 21, 2019Compliance & Operations, IRA, Beneficiary, Distribution, Q&A

Ready for an RMD Refresher?

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.

3 Complex Issues with Naming IRA Beneficiaries

An IRA owner’s decision to select a beneficiary appears simple, but complex issues may surface. Learn more about three key issues so that your organization can be prepared.

IRAAscensusOctober 17, 2019Compliance & Operations, IRA, Beneficiary

2020 Taxable Wage Base Announced

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.

Employer Plan, IRAAscensusOctober 17, 2019Compliance & Operations, Guidance & Legislation, IRA, Retirement Plan, SEP Plan, IRS

Hardship Distributions Made Easier

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.

Spread the Word on the Saver’s Credit to Bolster Plan Participation

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.

HSA Eligibility and What Makes a Health Plan HSA-Compatible

Who can establish an HSA? What are the requirements for a health plan to be considered HSA-compatible? If health plan coverage begins midmonth, when would someone be HSA-eligible?

HSA, expertAscensusOctober 17, 2019Compliance & Operations, HSA, Contribution, Eligibility, Q&A

Employers Should Use Caution When Excluding Certain Employees from a Plan

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?

5 Important HSA Questions Employers Ask Before Choosing an HSA-Compatible HDHP

With employee benefits open enrollment coming up, and more employers choosing to offer high deductible health plans, you may be fielding more HSA questions from employers. Here are the answers to five important questions they may be asking.

HSAAscensusSeptember 19, 2019Compliance & Operations, Business Insights, HSA, Contribution, Q&A, Reporting

Lawsuits Filed Against SEC Regulation Best Interest Rule

Two lawsuits have recently been filed seeking to invalidate the U.S. Securities and Exchange Commission’s new fiduciary standards.

Employer Plan, IRAAscensusSeptember 19, 2019Guidance & Legislation, IRA, Retirement Plan, Fiduciary, Investment