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Our Latest Articles
What Is a Top-Heavy Retirement Plan?
The IRS requires several annual nondiscrimination tests for defined contribution retirement plans, and the top-heavy test is one of those. A retirement plan is top-heavy when, as of the last day of the preceding plan year (the determination date), the total value of...
The New IRS Pre-Examination Retirement Plan Compliance Program
On June 3, 2022, the IRS announced a pilot pre-examination retirement plan compliance program beginning in June 2022. Under the pilot program, the IRS will notify a qualified retirement plan sponsor by letter that their retirement plan has been selected for an...
Maintaining Retirement Plan and Participant Records: Who’s Responsible and for How Long?
Retirement plan record retention rules are found in both the Department of Labor (“DOL”) Regulations and the Employee Retirement Income Security Act of 1974 (ERISA), plus there are statutes of limitation concerns in relation to retirement plan sponsor liability for...