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. 

2023-03-10T09:10:53-05:00March 9, 2023|Categories: Employee Benefit Plans, Plan Design and Administration|Tags: |

Closing the Coverage, Participation and Savings Gap with SECURE 2.0

The SECURE 2.0 Act of 2022 includes over 90 provisions that have implications for retirement plans. Here are some of the changes that will be more impactful to retirement plans and plan sponsors.

2023-01-09T09:46:41-05:00January 9, 2023|Categories: Plan Design and Administration|Tags: , |

IRS 90-day Pre-examination Compliance Pilot for Retirement Plans

The IRS is piloting a pre-examination compliance program for retirement plans, which provides plan sponsors with 90-day window to review plan operations and make corrections prior to examination.

Performing a 401(k) Retirement Plan Self-checkup

When an employer sponsors a retirement plan for its employees, it must carefully consider, and continually monitor, the plan provisions.

2021-09-29T14:13:58-04:00September 28, 2021|Categories: Employee Benefit Plans, Plan Design and Administration, Retirement|Tags: |

Don’t Overlook Advantageous Provisions of the SECURE Act

Although the 2019 SECURE Act was the most significant retirement plan policy legislation in over 10 years, its provisions have been somewhat in the background due to COVID-19. We've highlighted the following provisions that plan sponsors and employers without a plan may want to consider now.

Impact of the CARES Act on Employer Sponsored Defined Contribution Plans

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump on March 27, 2020, it contains several provisions that impact qualified retirement plans. 

Plan Options for COVID-19 Impacted Businesses

The government’s response to COVID-19 has left many facing forced closure or seismic changes to sales and expense forecasts. This new reality has left business owners looking for ways to bolster working capital while reducing fixed and other costs

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