Year-End Required Minimum Distributions (Defined Contribution Plans)
Failure to take your required minimum distribution could result in tax penalties, such as a 50% excise tax on the amount that was not withdrawn.
Year-End Bonuses and Compensation (Defined Contribution Plans)
Your plan document will dictate if bonuses are excluded from the definition of compensation and special rules for the treatment of deferrals on bonuses.
Finding Missing Participants in Your Defined Contribution Plan
Finding missing participants can be frustrating but employers carry the responsibility to provide disclosures to them just as often as active employees.
Is Your Business a Good Candidate for a Cash Balance Plan?
Cash balance plans allow high-income earners to save more towards retirement than a defined contribution plan. For example, in a defined contribution plan, the maximum annual additions are limited to $56,000 per year (as indexed). However, since the annual allocation...
Bipartisan Budget Act of 2018
The Bipartisan Budget Act of 2018 impacts hardship distributions from defined contribution plans.
2018 Census Request Reporting
The 2018 census request is a tool for plan administrators to report the employee data required for annual testing and other important business changes.
Safe Harbor Plan Amendments
Do you or your clients have a 401(k) plan that could benefit from amending to include a safe harbor provision?
OMB Completes Review of the Presidential Executive Order on Increasing Retirement Security in America
As outlined in our recent article, Executive Order on Increasing Retirement Security in America, President Trump executed this order to make it easier for businesses to join together to offer multiple employer plans, which are referred to as Association Retirement...
National TPA Day
John Hancock has declared October 16, 2018 the fourth annual National TPA Day as a way to acknowledge what TPAs do to make 401(k) plans work the way they should. We love helping our clients understand and implement retirement plans designed to meet their goals. As a...
Executive Order on Strengthening Retirement Security in America
The goal of President Trump’s executive order is to expand access to retirement plans for American workers at small to mid-sized companies.
Switch From Offering a Simple IRA to a 401(k) Plan
Do you or your clients have a SIMPLE IRA but could benefit from establishing a 401(k) plan? It’s not too late to make the change for 2018.
Sufficient Tax Withholding from Pension Payments
The IRS urges everyone (including retirees) to use their Withholding Calculator to determine if they have sufficient tax withholding from pension payments.