Secure Act 2.0 has important updates for Defined Benefit Plans, including increased RBD age and reduced excise tax on missed RMDs. Stay up-to-date with these crucial changes to ensure your retirement plan is compliant.
The Bipartisan American Miners Act of 2019 allows in-service distributions for retirement plan participants to commence at age 59 ½. However, in a defined benefit plan, to receive in-service lump sum distributions at age 59 ½, the distribution must satisfy certain thresholds. Read on to learn more about defined benefit plan lump sum distribution requirements.
The market drop of December 2018 seems like ages ago, considering recent market volatility, Coronavirus, and the missing March Madness. However, the December 2018 drop did result in lower AFTAPs for many calendar-year plans. Unless your plan’s AFTAP has been certified...
If you are responsible for administering your company’s defined benefit plan, download our 2019 defined benefit plan compliance calendar.
How the 2019 government shut down affected lump sump payments from defined benefit pension plans due to the timing of the interest rates.
Unbundled services in a defined benefit plan mean the various functions are performed by separate entities, which presents advantages for employers.
There are many reasons a company may terminate the plan, but specific steps must be followed for the defined benefit plan termination procedure.
A qualified retirement plan must meet various requirements throughout the year in order to retain the qualified status. If you are responsible for administering your company’s defined benefit plan, it’s critical to meet these deadlines. From making quarterly...
The National Retirement Planning Coalition has designated April 11-15 as the 2016 National Retirement Planning week. In celebration, each day this week Watkins Ross will share some fast facts and planning tips on the various types of retirement plans we service....
Traditional pension plans, or defined benefit plans, are the original backbone of the corporate pension system. Retired employees who have worked for a company with one of these plans are enjoying benefits provided well into old age. Middle aged employees...