A 401(k) plan helps your employees save for their future by giving them the opportunity to invest a portion of their paycheck into an employer-sponsored retirement account. Employees can select to invest either pre-tax or after-tax dollars into diversified investment lineup within their 401(k) portfolio. Many 401(k) plans offer employer matching, to entice employees to contribute a specific percentage of their paycheck into the plan in exchange for a matching investment from you, their employer. Employer 401(k) benefits include tax deductions and competitive retirement plan packages to attract top talent to your team. Curious about 401(k) plan options, regulatory details, and contribution rules? Head over to the Watkins Ross blog to browse 401(k) articles written by our retirement plan experts who have your goals and interests in mind. Looking for a retirement plan partner who understands the intricacies of your business and can help guide your 401(k) plan goals and compliance efforts? Connect with the Watkins Ross retirement team here.
If your plan elected any of the CARES Act provisions to allow for coronavirus-related distributions or the expanded loan provisions, there has been a change to who may be considered a “qualified individual”. Participants defined as a qualified individual include:...
The 2020 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.
Are you meeting the initial required minimum distributions of your contribution plan? Learn more about what conditions need to be met with Watkins Ross!
Corrective distributions must be processed by March 15 for a failed ADP/ACP test for a calendar plan year. Take these steps to prepare.
A beneficiary form determine who is entitled to the defined contribution retirement plan benefits upon the death of a participant. Is your form current?
A qualified retirement plan must meet various requirements throughout the year, check out our defined contribution compliance calendar today!
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.
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your required minimum distribution could result in tax penalties, such as a 50% excise tax on the amount that was not withdrawn.
Your plan document will dictate if bonuses are excluded from the definition of compensation and special rules for the treatment of deferrals on bonuses.