The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.
2019 IRS Operational Compliance List
read more
/ Category:
403(b) Plans
Are you a benefit plan administrator for a public school district, hospital group, or 501(c)(3) organization? 403(b) plans provide retirement benefits for employees in these specific nonprofit business sectors. Like a 401(k), 403(b) plans allow participants to diversify their investment allocations and tailor their portfolios to meet their long-term retirement goals. Unlike 401(k) plans, 403(b) plans incur limits in terms of investment options and employer matching potential. Leveraging a 403(b) plan to meet your nonprofit business goals can be tricky and complicated. Expand your 403(b) plan knowledge by exploring our 403(b) articles on the Watkins Ross blog. From minimum distribution requirements to IRS updates, Watkins Ross has everything you need to customize your retirement plan and ensure your benefits align with your long-term objectives. Contact us here to learn more about 403(b) plan designs and administration features.
Initial Required Minimum Distributions (Defined Contribution Plans)
Are you meeting the initial required minimum distributions of your contribution plan? Learn more about what conditions need to be met with Watkins Ross!
Who Retains The Beneficiary Forms?
A beneficiary form determine who is entitled to the defined contribution retirement plan benefits upon the death of a participant. Is your form current?
Defined Contribution Compliance Calendar
A qualified retirement plan must meet various requirements throughout the year, check out our defined contribution compliance calendar today!
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.
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your required minimum distribution could result in tax penalties, such as a 50% excise tax on the amount that was not withdrawn.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.
Bipartisan Budget Act of 2018
The Bipartisan Budget Act of 2018 impacts hardship distributions from defined contribution plans.
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?