Choosing an Auditor for Your Employee Benefit Plan (EBP)
Learn about the IQPA audit report requirement for large employee benefit plan and what determines if the plan is large or small.
Failed ADP/ACP Test Deadline for 401(k) Corrective Distributions
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.
Empowering Employees: The Next Frontier in Cybersecurity for Government Contractor Employee Benefit Plans
Read about the future of Cybersecurity for Government Contractor Employee Benefit Plans.
RetirePath Virginia Registration Deadline is February 15, 2024
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.
New Guidance from IRS on Correction of Errors in Qualified Retirement Plans
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.
Will New Rules Exempt Your Benefit Plan from the Annual Audit Requirement?
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.
SECURE 2.0: Considerations to achieve your workforce and business goals
Employers that understand SECURE 2.0's new requirements and the pros and cons of adopting optional provisions can implement the act effectively.
What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
401(k) Plan Participant Loan Year-End Review
Too often, we find participant loans that were never set up in payroll or where payroll withholding of repayments ceased prematurely, resulting in defaulted participant loans. For calendar year-end plans, plan sponsors have until March 31 of the following year to correct the failed set up of a participant loan.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.