The DOL and the IRS have established guidelines when e-mail or other electronic delivery methods are used to distribute retirement plan information.
Electronic Delivery of Participant Disclosure Materials
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Retirement Plans
Choosing the right retirement plan for your employees can be a challenge. From navigating contrasting rules and regulations pertaining to various types of retirement plans to determining which type of retirement plans best suit the unique needs of your employees, small businesses and large corporations alike have a plethora of important decisions to make when it comes to retirement plan selection. The experienced retirement plan team at Watkins Ross understands these challenges, regulations, and decisions. We expertly help you navigate your retirement plan options so you can choose the perfect retirement plan for your business’s specific needs. Explore our collection of retirement plan articles on the Watkins Ross blog to learn more about the various types of retirement plans available for business owners like you, including 401(k), 403(b), 457 plans, cash balance retirement plans, defined benefit retirement plans, ESOP, profit sharing, non-qualified retirement plans, and multi-employer retirement plans. Not finding the retirement plan information you need? Connect with us here to learn more about Watkins Ross retirement plan design and administration services.
DOL Electronic Disclosure Guidance
The DOL Electronic Disclosure guidelines recognize two Safe Harbor methods in addition to two supplemental methods
Utilizing a Pre-Approved Plan
Many employers adopt a pre-approved plan for their employees’ retirement plan. Adopting a pre-approved plan means the IRS has already issued an opinion letter or advisory letter regarding the acceptability of the type of plan. There are different types of pre-approved...
Census Request & The Data Requested
It’s important to understand the census request and the data requested from your TPA to avoid inaccurate tests and potential penalties.
Updated IRS Procedures for Correcting Retirement Plan Errors
IRS Revenue Procedure 2016-51 modifies the procedures for correcting retirement plan errors under the Employee Plans Compliance Resolution System (EPCRS).
Eligibility – Know Your Retirement Plan’s Provisions and Apply Correctly
It is important you understand the provisions of your retirement plan eligibility to make sure all eligible employees, and only those eligible, are included as participants. Mistakes can easily occur if eligibility is not tracked accurately. During the Plan...
Have You Reviewed Your Fidelity Bond Coverage? Should You?
A Third Party Administrator (TPA) must collect plan information from Plan Sponsors each year in order to complete the valuation and required filings. Providing accurate information to your TPA is critical, but one area often overlooked is reporting accurate fidelity...
Have Your Clients Missed The PPA Restatement Deadline?
IF YES: WR CAN ASSIST YOUR CLIENTS IN CORRECTING THIS FAILURE! The deadline for your clients to restate their 401(k), profit sharing and money purchase plans onto a pre-approved PPA document was April 30, 2016. To ensure these plans stay qualified, WR can assist your...
2016 Michigan Employee Owner of the Year
Watkins Ross is pleased to announce that Sharon Miller-Walcott, QKA, Certified ESOP Specialist, was elected as the 2016 Employee Owner of the Year by the Michigan Chapter of The ESOP Association. The ESOP Association, a non-profit trade association founded in 1978, is...
Price Slashing at the IRS!
If you have identified an operational error with your qualified retirement plan (401(k) plan, profit sharing plan, defined benefit plan) and are considering correcting it through the IRS Voluntary Correction Program (VCP), you’ll be glad to know that the IRS has just...