The DOL Electronic Disclosure guidelines recognize two Safe Harbor methods in addition to two supplemental methods
DOL Electronic Disclosure Guidance
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Compliance
Required Minimum Distributions From Defined Contribution Plans
Once you reach age 70 ½, the IRS requires you to take money out of your retirement account. This withdrawal is called a Required Minimum Distribution (RMD). Most people don’t give RMDs much thought until they have to take one. Required Beginning Date For defined...
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.
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...
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...
OPEB Reporting – Summary of Changes to GASB Statements
The Governmental Accounting Standards Board (GASB) recently released Statements 74 and 75, which replace statements 43 and 45, respectively for reporting related to other postemployment benefits (OPEB) plans. The purpose of the update was to provide increased...
Census Request Overview
The information reported on a census requests is crucial for your TPA to provide accurate annual testing. But, what do they need?
Must your plan cover leased employees?
Does your Company utilize the services of Leased Employees? If so, it is important to be aware of the rules governing qualified retirement plans and leased employees. There are certain requirements that must be met in order for an individual to be considered a leased...
BINGO to Avoid an Audit Trigger on Your ESOP Form 5500
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...