by Jill Northup, Conversion/Document Coordinator | Dec 27, 2018 | Latest News
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 the first day of the plan...
by Mishelle Becker, QKA, Retirement Plan Administrator | Dec 18, 2018 | Latest News
If your plan had distributions from your retirement plan this year, you must report to the participants on a Form 1099-R. A distribution will have occurred from your plan for a number of reasons including a cash or rollover distribution due to terminations,...
by Mishelle Becker, QKA, Retirement Plan Administrator | Dec 5, 2018 | Latest News
If you or your employees must take a required minimum distribution (RMD) by December 31, there are a few rules to consider: If you have a RMD from a 401(k) plan, the RMD amount must be calculated separately. You cannot lump the amount together with another plan...
by Mishelle Becker, QKA, Retirement Plan Administrator | Dec 5, 2018 | Latest News
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 bonus. Your plan document will state whether or not bonuses are...
by Sheila Freund, QKA, Compliance Coordinator | Nov 26, 2018 | Latest News
When participants terminate employment many often leave their defined contribution accounts with their former employers. Over time, many simply forget they even had an account. In these cases, they are still participants even though they are not actively contributing...
by Jill Northup, Conversion/Document Coordinator | Nov 5, 2018 | Latest News
The Bipartisan Budget Act of 2018 is a federal law regarding the US spending and budget that was signed into law by the President on February 9, 2018. Impacts on Hardship Distributions from Defined Contribution Plans For plan years beginning January 1, 2019, the...
