by Sheila Freund, QKA, Compliance Coordinator | Mar 11, 2019 | 401(K) Plans, 403(B) Plans, 457 Plans, Defined Contribution Plans, Employee Stock Ownership Plans, Profit Sharing Plans
Initial Required Minimum Distributions (Defined Contribution Plans) In general, participants in a defined contribution plan are required to receive minimum distributions after turning age 70.5 if they have separated from service or are a 5% owner in the company...
by Mishelle Becker, QKA, Retirement Plan Administrator | Feb 19, 2019 | 401(K) Plans, 403(B) Plans, 457 Plans, Cash Balance Plans, Defined Benefit Plans, Defined Contribution Plans, Employee Stock Ownership Plans, Profit Sharing Plans, Retirement Plans
Who Retains The Beneficiary Forms? Beneficiary designation forms are used to determine who is entitled to the defined contribution retirement plan benefits upon the death of a participant. While participants complete these forms upon entering a plan, it’s often...
by Mishelle Becker, QKA, Retirement Plan Administrator | Feb 14, 2019 | 401(K) Plans, 403(B) Plans, 457 Plans, Defined Contribution Plans, Employee Stock Ownership Plans, Profit Sharing Plans
2019 Defined Contribution Compliance Calendar 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 contribution plan, it’s critical...
by Jill Northup, Conversion/Document Coordinator | Dec 27, 2018 | 401(K) Plans, 403(B) Plans, Defined Contribution Plans
Changes to Hardship Rules Recent regulatory changes as a result of the Tax Cuts and Jobs Act of 2017 (“Tax Cuts Act”) and the Bipartisan Budget Act of 2018 (“Budget Act”) may impact certain provisions of your 401(k) Plan. Many of these changes will become effective...
by Mishelle Becker, QKA, Retirement Plan Administrator | Dec 5, 2018 | 401(K) Plans, 403(B) Plans, 457 Plans, Defined Contribution Plans
Year-End Required Minimum Distributions (Defined Contribution Plans) If you or your employees must take year-end required minimum distributions (RMD) from your defined contribution plan by December 31, there are a few rules to consider: If you have a RMD from a 401(k)...
by Mishelle Becker, QKA, Retirement Plan Administrator | Dec 5, 2018 | 401(K) Plans, 403(B) Plans, 457 Plans, Defined Contribution Plans
Year-End Bonuses and Compensation (Defined Contribution Plans) It’s that time of year when many companies will give year-end bonuses to employees. When running these through your payroll, be sure you know if you need to deduct employee deferral elections from the...
