News

Spring 2021: Retirement Planning is a Team Sport

Spring Newsletter Sneak Peek In this edition, we explore the various players involved with retirement plan administration, mergers and acquisitions and their effect on retirement plans, and the newly issued guidance from the DOL on cybersecurity. Click on the button...

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Winter 2021: The MEP/PEP Debate: Are We Better Together?

Winter Newsletter Sneak Peek In this edition, we explore multiple employer plans, relief provided under the most recent federal stimulus bill, and proper handling of salary deferral contributions, including DOL COVID-19 relief. Click on the button below to read the...

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Fall 2020: Cost of Living Adjustments for 2021

2021 Cost of Living Adjustments On October 26, 2020, the IRS announced the COST OF LIVING ADJUSTMENTS affecting the dollar limitations for retirement plans. Contribution and benefit increases are intended to allow participant contributions and benefits to keep up with...

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Summer 2020: Electronic Delivery Could Save Billions

Electronic Delivery Could Save Billions On May 21, 2020, the U.S. Department of Labor and the Employee Benefits Security Administration (EBSA) announced the publication of a final rule that will allow employers to communicate the required retirement plan disclosures...

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Spring 2020: Understanding the CARES Act

CARES Act The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into Law on Friday, March 27, 2020. Besides the generalized financial relief afforded to individuals, as well as loans and other concessions for businesses, the massive relief bill...

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Winter 2020: How the Secure Act is Changing Retirement

SECURE  Act The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into Law on December 20, 2019. The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006,...

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Summer 2019: Bucket List: Retirement

The economy continues at its strong pace, keeping unemployment rates at its lowest rate in nearly 50 years. While this is usually good news, employee financial vulnerability is clouding this sunny forecast. The repercussions are impacting their ability to save for...

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Spring 2019: Automatic Enrollment is on the Rise

Automatic Enrollment is on the Rise With the future of Social Security in question, it is becoming ever increasingly important for workers to self-prepare for post-retirement living. Studies show that approximately one out of every three eligible workers...    Read...

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Winter 2019: It’s Testing Season! and more…

It's Testing Season! Qualified plans must perform annual testing to be sure that the plan doesn’t unfairly discriminate in favor of "highly compensated employees" (HCEs) or exceed the contribution limits set forth by the IRS. Depending on your plan provisions, it...

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Fall 2018: Hardships Get a Little Easier and more…

Hardships Get a Little Easier Earlier this year, the Bipartisan Budget Act of 2018 was passed by Congress and signed into law.  While this law made several changes that impact retirement plans, one provision changing the rules around hardship distributions is...

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Spring 2018: Who is an Employee? & HSA vs 401[k]

Who is an Employee? MAINTAINING A RETIREMENT PLAN FOR YOUR EMPLOYEES IS NO EASY TASK. At various points during the year, employers and HR departments field participant questions, help with enrollments, deliver notices and statements, and participate in the...

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December 2017: End of the Year Checklist

End of the Year Checklist As the year-end approaches, our to-do lists can be lengthy. There are holidays to prepare for, employee performance reviews to complete, and, oh, wait, there is also the year-end data collection package from your TPA! We have once again...

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September 2017: New Fiduciary Rule and Hardship Distributions

Fiduciary – The New “F” Word There has been much upheaval in the retirement world as of late and it centers around the new fiduciary rule. The New Fiduciary Rule means that many investment professionals that weren't previously considered fiduciaries will now have to...

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June 2017: Retirement Plan Rx

The latest news regarding retirement plans has centered around service provider fees. While fees are a highly important aspect of managing an employer-sponsored retirement plan, they are not the only metric of your overall retirement plan’s health. A low-cost...

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April: Benefit Communications in an Electronic World

With communication mediums like email, text, and IM’s becoming the standard in business industries worldwide, plan sponsors are becoming increasingly interested in abandoning paper processes for a more electronic means of communication with plan participants and...

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December: Rules and Taxation of 401(k) Plan Distributions

A 401(k) plan permits employees to defer a portion of their salaries on a pre-tax basis with the objective of accumulating assets for retirement. Additional assets are accumulated if the employer makes contributions to the participant’s account. Click on the button...

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October 2016: Keeping Abreast of Plan Loan Rules

If you have a 401(k) plan, you’ve likely had participants ask about taking loans from their accounts. If you haven’t yet, it is only a matter of time. While the concept of taking a loan is pretty straightforward—you borrow money, you repay it with interest—there are...

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August 2016: DOL Issues New Fiduciary Rule

On April 8, 2016 the Department of Labor (DOL) issued final guidance that greatly expands the types of retirement investment advice that will be subject to the fiduciary duty rules under the Employee Retirement Income Security Act of 1974 (ERISA). The so-called...

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June 2016: Fun with Forfeitures

Sooner or later, almost all 401(k) plans will face the “fun” of dealing with forfeitures. Just like every other plan-related operational item, there are specific rules that provide guidance on the “who, what, why, when and where” of using forfeitures. What is a...

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April 2016: A Fresh Look at Your Form 5500 Filing

If your firm has a profit sharing plan, a 401(k) plan or some other tax-qualified retirement plan, then you have been given a Form 5500 to sign and file every year since your business adopted the plan. While the form looks like most other IRS forms, the information...

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February: Part-Time Employees in 401(k) Plans

More and more businesses are hiring part-time, seasonal or temporary employees (collectively referred to in this newsletter as “part-time employees”). Employers believe the advantages to using this alternative workforce include lower wages and significant savings in...

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December Newsletter: Determining Retirement Plan Compensation

Determining Retirement Plan Compensation When it comes to operating your retirement plan, determining the compensation that should be used for each participant can be really confusing. It seems like it should be simple, but the reality is quite different. In fact, the...

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