2019 Government Shut Down Affects Lump Sum Payments from Defined Benefit Plans
How the 2019 government shut down affected lump sump payments from defined benefit pension plans due to the timing of the interest rates.
Changes to Hardship Rules
Regulatory changes as a result of the Tax Cuts and Jobs Act of 2017 and the Bipartisan Budget Act of 2018 may impact certain provisions of your 401(k) Plan.
1099-R
If your plan retirement plan had distributions from it this year, you must report these to the participants on a Form 1099-R.
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your required minimum distribution could result in tax penalties, such as a 50% excise tax on the amount that was not withdrawn.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...