Discover simplified disclosure rules for DC plan participants under SECURE 2.0. New options for plan sponsors explained. Effective Dec 31, 2022.
New Simplified Disclosure Rules for Plan Participants in DC Plans
read more
/ Category:
Plan Documents
Retirement plan documents form the backbone of a retirement benefit’s standards of operation and regulatory compliance. As legally binding agreements, your business’s retirement plan documents function as both proof of IRS compliance and an up-to-date record of retirement plan operating details, plan participant qualifications and rights, and your responsibilities within the plan as an employer. Failure to properly maintain retirement plan documents can result in penalties and legal recourse. Protect your business’s retirement plans by familiarizing yourself with the plan document articles shared on the Watkins Ross blog. We unpack the rules and regulations surrounding plan documents and provide sound advice for employers seeking to create or improve their plan documents. Looking for a solid, proven plan document solution for your business’s retirement plans? Watkins Ross document services specialists are experts at ensuring your plan documents meet federal compliance rules. Connect with us here to learn more about Watkins Ross plan document services and how together we can protect your business.
The Importance of Maintaining Retirement Beneficiary Forms
It’s essential plan sponsors provide retirement beneficiary forms when enrolling a new employee in a retirement plan. Learn more on the Watkins Ross blog.
Policies, Procedures & Internal Controls
With the New Year just beginning, now is a good time to review your policies, procedures and internal controls for your retirement plan. Having strong internal controls and documenting policies/procedures is important to ensure you are operating your plan properly; as...
Hardship and Participant Loan Documentation
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...