Employee Breaks-in-Eligibility Service Are Inevitable. Here's How to Handle Them.

Just as important  for an employer choosing plan service requirements  is considering when an employee will experience a break in eligibility service.  Breaks in service—leaving that employer, in other words—can potentially delay when an employee becomes a participant, or resumes participation if he or she was an eligible participant before incurring breaks in service.

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DOL Releases Final Investment Advice Fiduciary Rule

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

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A Brush Up on EPCRS’s Self-Correction Program: Reviewing updates made to EPCRS following the passage of SECURE 2.0

Plan sponsors may generally correct eligible inadvertent failures under the EPCR’s Self-Correction Program. Exceptions to this rule include failures in which the plan or plan sponsor is under examination by the IRS or for failures that have been identified by the plan or plan sponsor but have not been corrected within a reasonable period of time after identification.

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