Let’s say, for example, you’re concerned about not having enough money saved for retirement. You’re certainly not alone based on the myriad number of polls, surveys, and studies that have been in the news. So where do you start?
You
The Retirement Plan Blog
Helping get your retirement plan from where it is now to where it needs to be
The Retirement Plan Blog, published by National Benefit Services, Inc., focuses on retirement plan compliance, legislative updates, and practical guidance for employers and plan sponsors. It covers topics such as required pension plan restatements, implications of major retirement legislation like SECURE 2.0, transitioning from SIMPLE IRAs to 401(k) plans, and strategies to improve plan success including deferral rates. The blog also addresses IRS deadlines, correction programs for missed compliance, and operational considerations for various retirement plan types. It aims to clarify complex regulatory requirements and assist fiduciaries in managing retirement plans effectively.
Latest from The Retirement Plan Blog - Page 11
The Dirty Dozen Tax Scams for 2015: Infographic
By Jerry Kalish
Every year around this time, the Internal Revenue Service publishes a list of the year’s “Dirty Dozen Tax Scams”. Here they are as an infographic courtesy of The Accounting School Guide.
Source: AccountingSchoolGuide.com
You can find more detailed…
Illinois Secure Choice Savings Program?
Illinois legislation, the first in the country, recently authorized a new state sponsored retirement savings vehicle called the Secure Choice Savings Program (Secure Choice). The program is aimed at upwards of 2 million Illinois workers who are not currently covered…
401(k) Loans: A “Temporary Band-Aid”?
By Jerry Kalish
That’s not my metaphor which is why it’s in quotes. It belongs to Eve Tahmincioglu, the Career Diva, about whom I wrote in 2008. Eve wrote a blog post about the increasing number of 401(k) loans, It’s for retirement…
Frozen pension plans becoming a high maintenance item
By Jerry Kalish
When defined benefit pension plans come up in conversation (that’s what we ERISA folks do when we get together), it’s usually about the decline of traditional pension plans and the increase in of cash balance plans. Frozen pension plans are…
What Advisors Need to Know About Retirement Plans: Presentation to Illinois CPA Society
By Jerry Kalish
I had the opportunity recently to make a presentation on qualified retirement plans to the Illinois CPA Society (ICPAS). Actually, it was using PowerPoint to begin a dialogue with the members of the ICPAS Investment Advisory Services/Personal Financial…
Employee Classification as Part-Time or Full-Time: Not the Same Under the Affordable Care Act and ERISA
By Jerry Kalish
Some of the most difficult and contentious provisions of the Affordable Care Act (“ACA”) are the employer mandate and upcoming reporting requirements effective in 2015.
“Difficult” because the employer mandate requires applicable large employers, generally those with 50 or more “full-time”…
Taking credit for setting up a retirement plan
By Jerry Kalish
As we near the end of the year, many business owners rush to establish retirement plans to capture calendar fiscal year tax deductions. If you’re one of those small business owners, you may also be eligible to receive a tax…
IRS issues updated Rollover Chart
By Jerry Kalish
What’s an eligible rollover distribution and what’s not can be a complicated and confusing matter. Here’s a recent and handy rollover chart by the Internal Revenue Service updated for new rules that may be helpful.
1 Qualified plans include, for…
The Top Five 401(k) compliance matters that employers can’t delegate away
Harry S. Truman, the 33rd President of the United States, is pictured above with the sign he kept on his desk, “The buck stops here.” It meant that the President had to make the decisions and accept the ultimate…