Retirement plans, post-employment health plan benefits, and self-insured business financial and liability reporting requirements continually evolve and change over time. Retirement and health plan regulatory parties must consequently update terms, conditions, and reporting obligations regularly. Keep your business up-to-date and compliant by connecting with the latest retirement and health plan news on the Watkins Ross blog. From 401(k) rules and pension benefit specifics to deferrals, distributions, and incurred liability considerations, Watkins Ross breaks down the latest news and important retirement and health plan updates so you can ensure your business provides the best possible benefits for your employees at the least amount of regulatory reporting risk. Interested in obtaining an expert look into your business’s current benefits and exploring how they fit within an ever-changing regulatory climate? Contact the Watkins Ross actuaries and retirement and health plan teams to obtain an in-depth assessment of your plan positioning, reporting liabilities, and cost-saving opportunities.
Watkins Ross is 100% employee owned – we believe in ESOPs – we believe that ESOP laws should be continued and expanded. ESOP’s are in the law and Congress can take them away. It is important to keep advocating laws that encourage the creation and operation of...
2I – 2O – 2P – 2Q – 3I, Bingo! Entering incorrect information on the return or report, or leaving a field blank when there should be an entry increases the likelihood that you’ll be selected for an Employee Plans Compliance Unit compliance check. Plan characteristic...
Watkins Ross has been named a Silver ESOP Award winner by The ESOP Association. The Silver ESOP Awards recognize companies for their work in sustaining their ESOP for 25 years or more. Watkins Ross is one of 48 corporate members of the Association to be honored in...
The IRS recently published guidelines for Plan Sponsors to adhere to regarding the documentation of hardship distributions and participant loans. Generally speaking, plan participants sign a distribution form certifying that they qualify for a hardship...
Section 401(a)(17) provides an annual compensation limit for each employee under a qualified plan.
ESOP-Owned Companies are unique through their values, integrity, teamwork and passion. Do you ooze ESOP?
Plan sponsors of defined benefit pension plans who are subject to PBGC coverage receive an email each year from the PBGC requiring input (and payment). What’s also required is a deep breath and a strong heart. Although the purpose of the PBGC is meaningful...
Owners and highly compensated employees who are eligible participants in a safe harbor 401(k) plan are typically allowed to receive an employer contribution using the same safe harbor formula that is applied to the rank-and-file plan participants. However, some plans...
It’s an easy detail to overlook. Participants occasionally overlook the importance of updating their beneficiary form. It is even more important to update their form if their status has changed, such as divorce, marriage, etc. Maintaining updated beneficiary forms...
January 1st brings anticipation for the future, a fresh start, and a chance to follow through on those New Year’s resolutions. But it also means that it’s retirement-plan reporting season as well. It’s time again to notify your TPA of any business changes that may...