The census request is a tool for plan administrators to report the employee data required for annual testing and other important business changes that occurred in the prior year.
Do you or your clients have a 401(k) plan that could benefit from amending to include a safe harbor provision? Generally, the plan must be amended on or before November 30 to implement the change.
OMB Completes Review of the Presidential Executive Order on Increasing Retirement Security in America
President Trump executed this order to make it easier for businesses to join together to offer multiple employer plans, which are referred to as Association Retirement Plans (ARPs) in the order.
John Hancock has declared October 16, 2018 the fourth annual National TPA Day as a way to acknowledge what TPAs do to make 401(k) plans work the way they should.
President Trump’s Executive Order on Strengthening Retirement Security in America was signed in Charlotte, NC on August 31, 2018. The goal of the executive order is to expand access to retirement plans for American workers at small to mid-sized.
Do you or your clients have a SIMPLE IRA but could benefit from establishing a 401(k) plan?
Enactment of The Tax Cuts and Jobs Act changed the way taxes are calculated for many taxpayers in 2018, including retirees receiving monthly benefits from a pension plan.
Termination of employment is a valid reason for a participant to receive a distribution from their retirement plan. However, what if that employee is terminated, receives a distribution and is then hired back? Is this still a valid distribution?
The IRS requires Plan Sponsors to adhere to specific hardship withdrawal guidelines for the distribution to take place. In the event of an IRS audit, failure to provide these items is a qualification failure.
The number of new cash balance plans adopted by employers increased 15% in 2016, compared to a 1% growth in 401(k) plans.
Michigan Now Requires More Disclosure from Local Governments Regarding their Pension and Retiree Health Systems
Michigan Public Act 202 of 2017 requires local units of government to disclose information to the Michigan Department of Treasury with the intent of being more transparent to the community with the funded status and other information about their retiree health care and pension benefits.
Cash balance plans allow high-income earners to save more towards retirement than a defined contribution plan.