What’s been going on in the retirement & health plan fields? Here we’ll discuss the latest information & best practices for managing your plans.
On June 29, 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-52 that provides temporarily relief to plan sponsors that amend their safe harbor Section 401(k) or 401(m) plans (“Safe Harbor Plans”) mid-year to reduce or suspend employer safe...
If your plan elected any of the CARES Act provisions to allow for coronavirus-related distributions or the expanded loan provisions, there has been a change to who may be considered a “qualified individual”. Participants defined as a qualified individual...
The SECURE Act was recently passed effective 1-1-2020 and, since then, there has been a lot of communication regarding the passage of the CARES Act due to Covid19. Both of these acts affect how RMD’s are to be processed in 2020, 2021 and onward. The...
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...
The 2020 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
There are a number of potential issues a plan sponsor may face if they use the investment rate of return as the plan’s interest crediting rate.
You are tasked with determining an appropriate discount rate for determining the Net OPEB liability under the Governmental Accounting Standards Board Statement (GASB) Nos. 74/75 for a closed, underfunded retiree healthcare plan whose plan sponsor plans to...
The number of new Cash Balance Plans continues to rise each year. Here are a few cash balance plan considerations as a popular retirement plan vehicle.
Retirement Plan errors can be costly & time-consuming. Periodically review your retirement plan to avoid issues and ensure it’s operating in compliance.
The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.