That plan would be a SEP, the acronym for Simplified Employee Pension, an IRA-based retirement plan. Unlike a “qualified” retirement plan (401[k}, profit-sharing, or defined benefit) which must be in place no later than the last day of the year,
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 3
COVID-19: DOL provides filing and disclosure relief
By Jerry Kalish
This is what we have been waiting for. In our earlier post, we reported that the Internal Revenue Service (IRS) extended various deadlines for retirement plan filing and payment obligations. At the time of that publication, the Department of…
COVID-19 extensions for retirement plan filings and payments
By Jerry Kalish
CARES Act provides access to participant retirement plan accounts
By Jerry Kalish
SECURE Act: How to take credit (tax, that is) for your retirement plan
By Jerry Kalish
Who owns a 401(k) participant’s personal information?
The Restatement Requirement for Defined Benefit Plans: FAQs for Employers Adopting a Pre-Approved Plan
By Jerry Kalish
