IRS has recently announced that employers with pre-approved defined contribution plans (401(k), profit sharing and money purchase) will need to have their plan documents rewritten within the next two years. The deadline to do so is July 31, 2022. IRS goes through this...
Defined Contribution Plans
Initial Required Minimum Distributions (Defined Contribution Plans)
Are you meeting the initial required minimum distributions of your contribution plan? Learn more about what conditions need to be met with Watkins Ross!
2019 Defined Contribution Compliance Calendar
A qualified retirement plan must meet various requirements throughout the year, check out our defined contribution compliance calendar today!
Year-End Required Minimum Distributions (Defined Contribution Plans)
Failure to take your required minimum distribution could result in tax penalties, such as a 50% excise tax on the amount that was not withdrawn.
Year-End Bonuses and Compensation (Defined Contribution Plans)
Your plan document will dictate if bonuses are excluded from the definition of compensation and special rules for the treatment of deferrals on bonuses.
Finding Missing Participants in Your Defined Contribution Plan
Finding missing participants can be frustrating but employers carry the responsibility to provide disclosures to them just as often as active employees.
RMDs for Missing Participants in Defined Contribution Plans
Minimum distributions are required for certain participants age 70½. How do you handle RMDs for missing participants in defined contribution plans?
Salary Deferral Limits in Defined Contribution Plans
The 2018 contribution limit for salary deferrals is $18,500 and includes both pre-tax and after-tax Roth deferrals. This limit is aggregated across plans.
Why an Unbundled TPA is Better for a Defined Contribution Plan
Having one provider might seem like an effective and cost-saving solution, but having an unbundled TPA is better for several reasons.
Defined Contribution Plan Termination Procedure
There are various reasons a company decides to terminate their defined contribution retirement plan, but specific steps must be followed.