There are several reasons to replace a SIMPLE plan with a 401(k) Plan. Learn how it can provide greater deferral limits, a vesting schedule for discretionary employer contributions, and plan design flexibility.
Change is ongoing in the world of employee benefit plans, and this year is no different. With these plans becoming increasingly complex and heavily regulated, it is crucial for government contractors to stay updated on the latest audit requirements.
Learn about the IQPA audit report requirement for large employee benefit plan and what determines if the plan is large or small.
Learn about the corrective distribution deadline associated with failed ADP/ACP testing related to requirements for traditional 401(k) plans that haven't adopted safe harbor provisions.
Read about the future of Cybersecurity for Government Contractor Employee Benefit Plans.
RetirePath Virginia, an automatic-enrollment, state-facilitated individual retirement account savings program, has a deadline to register of February 15, 2024 for eligible businesses. Businesses that fail to respond may face an annual penalty of up to $200 per eligible employee.
The IRS released Notice 2023-43 to provide interim guidance on plan correction changes under SECURE 2.0 until Rev. Proc. 2021-30 (EPCRS) is updated.
On February 24, 2023, the Federal Register announced changes to the 2023 Form 5500. One significant change was in the method for determining which employee benefit plans will require an audit for 2023.
Employers that understand SECURE 2.0's new requirements and the pros and cons of adopting optional provisions can implement the act effectively.
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
As Internet Explorer will discontinue browser security updates by August of 2021, this site is best viewed using Google Chrome, Safari or Microsoft Edge.
