The 2024 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
2024 Plan Limits Released
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Employee Stock Ownership Plans
An employee stock ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock. Employers can use ESOPs to align the interests of their employees with those of their shareholders. ESOPs boost employee satisfaction, retention, and job performance by linking your business’s financial success to employee retirement benefits; the better your business performs as a whole, the more your employees will benefit from their hard work.
Watkins Ross is 100% ESOP-owned; we understand the intricacies and unique provisions of employee stock ownership plans. Discover the specific benefits of employee stock ownership plans by exploring our ESOP articles on the Watkins Ross blog. Wondering if an ESOP can enhance your business’s retirement benefits? Connect with us here to obtain professional insight from our retirement plan team and discover whether an employee stock ownership plan is the right fit for your business.
2020 Plan Limits Released
The 2020 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
2019 IRS Operational Compliance List
The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.
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!
How to Submit a Federal Withholding Tax Deposit
Although you cannot mail a check for a federal withholding tax deposit, there are a few options to submit these payments to the IRS electronically.
Why an Unbundled TPA is Better for a Defined Contribution Plan
Having one provider might seem like an effective and cost-saving solution, but having an unbundled TPA is better for several reasons.
Defined Contribution Plan Termination Procedure
There are various reasons a company decides to terminate their defined contribution retirement plan, but specific steps must be followed.
Protect Your Qualified Plan From RMD Failures
Qualified retirement plans are subject to Required Minimum Distribution (RMD) rules. It’s important to protect your qualified plan from RMD failures.