Archive | Newsletters

October 2016

Keeping Abreast of Plan Loan Rules October 2016 Newsletter Introduction Background Loan Requirements    Plan Document    Loan Policy    Maximum and Minimum Amounts    Number of Loans    Interest Rate    Amortization    Other Repayment Terms    Documentation Conclusion If you have a 401(k) plan, you’ve likely had participants ask about taking loans from […]

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August 2016

DOL Issues New Fiduciary Rule August 2016 Newsletter Introduction Background Activities Considered Investment Advice Advice Provider Relationship Activities not Considered Investment Advice     Providing an Investment Platform for Directed Investment     Selection and Monitoring Assistance for Plan Fiduciaries     Investment Education     Advice Provided by Employees     General Communications Best Interest Contract (BIC) Exemption What […]

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June 2016

Fun with Forfeitures June 2016 Newsletter Introduction What is a forfeiture? What isn’t a forfeiture? When do forfeitures occur?     When is a distribution “complete”?     What is a one-year break in service? How are forfeitures used? Can forfeitures be reinstated? When must forfeitures be used? What can I do to get this right? Sooner […]

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April 2016

A Fresh Look at Your Form 5500 Filing April 2016 Newsletter Introduction How is the Form 5500 Data Utilized? Which plans are considered “small”? Which plans need an accountant’s audit? What is the due date for filing the Form 5500? What’s new on the 2015 Form 5500?    What information was the IRS attempting to […]

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February 2016

Part-Time Employees in 401(k) Plans February 2016 Newsletter Introduction Minimum Age and Service Requirements Entry Date Effect of a Short Service Requirement Excluding Classes of Employees Excluding Part-Time Employees with a Fail Safe Provision Service Requirements for Employer Contributions Impact on ADP and ACP Tests Making Excluded Participants Whole Conclusion More and more businesses are […]

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October 2015

A Plan Fiduciary’s Responsibilities Many employers establish retirement plans without being fully aware of their fiduciary responsibilities. It is imperative to know whether you are a fiduciary and, if so, what your responsibilities are because there are risks for the unwary. A fiduciary that breaches any obligation or duty can be held personally liable to […]

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August 2015

The IRS is Back with Some Brand New Corrections Let’s face it. Finding out that the IRS wants to poke around is not going to be the highlight of anyone’s day. Voluntarily admitting a mistake to the IRS and asking for forgiveness is probably even lower on the wish list! So hearing about new voluntary […]

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July 2015

The Right Combination for Your Retirement Plan Although not a new design, there has been renewed interest in the “combo plan” as a way for higher income business owners to turbocharge their retirement savings. The term “combo plan” generally refers to the combination of a defined contribution plan (usually a 401(k) profit sharing plan) and […]

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June 2015

The Best Plan to Drive Your Retirement Needs   Excuse me, can you tell me what kind of car is best for me? It is impossible to answer that question without getting more information…how will the car be used? What is the budget? For fuel efficiency and driving in a crowded downtown area, maybe a […]

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April 2015

Automatic Enrollment for 401(k) Plans   McDonald’s may have been the automatic enrollment pioneer 30 years ago, but it wasn’t until 2008 when the new Pension Protection Act rules kicked in that it really started to gain serious momentum. Since that time, articles have regularly extolled the virtues and almost every new retirement-related bill introduced […]

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