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Our Latest Articles

IRS Update – Retirement Plan Documentation Deadline

IRS Update – Retirement Plan Documentation Deadline

In July 2020, the IRS announced employers with pre-approved defined contribution retirement plans (401(k), profit-sharing, and money purchase plans) will need to have their retirement plan documents rewritten within the next two years. The deadline to do so is July...

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Processing Retirement Plan Participant Contributions

Processing Retirement Plan Participant Contributions

Department of Labor (DOL) rules require that employers deposit retirement plan participant deferrals as soon as administratively possible. For small retirement plans (under 100 participants), this is typically a timeline of 7 business days. Large retirement plans (100...

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Retirement Plan Compensation Considerations

Retirement Plan Compensation Considerations

A common operational failure for retirement plans is when plan sponsors fail to apply the correct definition of compensation for retirement plan testing and benefit allocation purposes. Using an incorrect compensation total can impact the average deferral percentage...

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