Admit it: Your company, as a 401(k) sponsor, and company decision makers who direct plan operations (including in-house trustees), are ERISA fiduciaries. Don’t quibble about this but take a step back and figure out what to do about it.
Some
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 13
IRS opens window for Pension Protection Act Restatements
By Jerry Kalish
If you’re an employer who sponsors a 401(k) or profit sharing plan, it’s time to amend and restate your plan.
Qualified retirement plans must operate in accordance with their plan documents. Ongoing legal and regulatory changes in retirement plan rules…
The Deluge of Affordable Care Act Regulations: What Employers Need to Know
There has been a deluge of regulatory activity involving the Affordable Care Act (“Obamacare”), or the ACA. Some developments, such as the general postponement of the employer mandate until 2015 (and the recent postponement until 2016 for employers with 50-99…
Money really does grow on trees, but you have to be able to see it
By Jerry Kalish
The individual checking his email pictured above is someone who didn’t see the money tree. He’s a graduate student that was part of a research study cited in the Original Research Article, Failure to see money on a tree: inattentional…
Understanding the Importance of Family Businesses
According to research conducted by the Cox Family Enterprise Center, 80 percent of the world’s businesses are family-owned, and 60 percent in the U.S. In fact, in this country, family-run businesses account for more than half of the gross domestic…
The Case of the Vanishing Advisor
By Jerry Kalish
That’s not someone from a Sherlock Holmes story. But it could be very well be my old college buddy Bob (not his real name, of course).
Bob was of the era in which aspiring stockbrokers went to New York immediately…
The Power of Regular Contributions, a/k/a Exponential Growth, on Retirement Savings as an Infographic
By Jerry Kalish
Source: Accounting-Degree.org
IRS Establishes Pilot Penalty Relief Program for Late Form 5500 – EZ Filings
By Jerry Kalish
That’s the collective sigh of relief by those business owners who, for whatever reason, haven’t filed Form 5500-EZ for their retirement plans. It’s a big deal especially for those business owners with so-called Solo-K plans. 401(k) plans were introduced in…
The New Health Care Tax Credit: Another Reason to Get Worker Classification Right
By Jerry Kalish
Independent contractor vs. employee is an issue that never seems to go away for many employers.
It’s been a regular topic on this blog since 2007.
Now there’s a new concern about employee classification on the horizon. It’s an outgrowth…
Looking at 2013 401(k) testing in the rear view mirror
By Jerry Kalish
We just drove past it. The “it” is the March 15 deadline for 401(k) testing to determine whether Highly Compensated Employees (“HCEs”) contributed more than the IRS allows when compared to the Non-HCEs. Looking back, some 401(k) plans passed. Other…