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.
Is This a Sham Termination?
Is a distribution from a retirement plan valid if the participant is rehired after the distribution occurs or is this a sham termination?
Safe Harbor Hardship Withdrawal Guidelines
The IRS requires Plan Sponsors to adhere to specific safe harbor hardship withdrawal guidelines for the distribution to take place.
Cash Balance Plans Continue Outpacing 401(k) Plan Growth
The number of new cash balance plans adopted by employers increased 15% in 2016 (the most recent year that full 5500 data is available), compared to a 1% growth in 401(k) plans. Why have cash balance plans experienced so much growth? Several factors contributed to the...
Michigan Now Requires More Disclosure from Local Governments Regarding their Pension and Retiree Health Systems
Michigan Public Act 202 requires more disclosure from local governments regarding their pension and retiree health systems.
Who Should Consider a Cash Balance Plan?
Cash balance plans may allow high-income earners to save more towards retirement. So, who should consider a cash balance plan?
Attention all PBGC Premium Filers
The PBGC has a new mailing address! Make sure to update your files so that your filing and payment are sent to the correct address.
401(k) Plan Eligibility Requirements for Summer Help
RMDs for Missing Participants in Defined Contribution Plans
Minimum distributions are required for certain participants age 70½. How do you handle RMDs for missing participants in defined contribution plans?
Salary Deferral Limits in Defined Contribution Plans
The 2018 contribution limit for salary deferrals is $18,500 and includes both pre-tax and after-tax Roth deferrals. This limit is aggregated across plans.