DOL Issues Interim Rule on Lifetime Income Disclosure

(authored by RSM US LLP) The DOL’s lifetime income disclosure rule will increase costs and information required for benefit statements in defined contribution plans.

2020-08-26T08:56:01-04:00August 26, 2020|Categories: Retirement, Tax: Individual|Tags: , , |

Expanded Relief to Plan Participants for Coronavirus-Related Distributions

On June 19, 2020, the IRS issued Notice 2020-50 that expands the categories of individuals eligible for plan distributions and plan loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

2020-06-29T11:21:29-04:00June 29, 2020|Categories: PBMares COVID-19 Insights, Retirement|Tags: , |

How Can Plan Sponsors Help Participants During the COVID-19 Crisis?

Unless you own or operate a financial services company, giving out financial advice is probably way outside the scope of your usual responsibilities. 

2020-06-03T15:34:11-04:00June 3, 2020|Categories: PBMares COVID-19 Insights, Retirement, Wealth Management|Tags: |

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

SECURE Act Impacts Employer Sponsored Defined Contribution Plans

Recent provisions to the SECURE Act make it easier for employees to save for retirement while employers and plan sponsors have new rules to follow for qualified retirement plans.

2020-01-07T12:22:11-05:00January 7, 2020|Categories: Retirement|Tags: , |

SECURE Act Impacts Retirement Planning

President Trump signed the latest federal government spending bill on Friday December 20, 2019. The bill includes many tax law changes and extends several expired provisions. The bill also incorporates the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Read on for three changes from the SECURE Act that all taxpayers should know.

2020-01-02T15:07:05-05:00December 24, 2019|Categories: Retirement|Tags: , , , |

Options Following Overpayment into a Retirement Plan

The government penalizes employers for not putting enough money into a retirement plan and for putting too much into the plan. If an overpayment occurs and funds need to be withdrawn, the ability to pull them out depends on if the excess is employee or employer money.

2020-02-10T15:46:22-05:00April 4, 2019|Categories: Employee Benefit Plans, Retirement|Tags: , |

Is Your 401(k) Plan Document Out of Date?

If your 401(k) plan document was created before 2014, chances are the document is outdated. The IRS allows you to “tack-on” amendments to your existing document but may decide it is time to restate your entire plan document whether you think it needs it or not.

2020-02-10T15:47:27-05:00February 25, 2019|Categories: Employee Benefit Plans, Retirement|Tags: , |