…we provide insights into what’s involved with nondiscrimination testing and what you need to know: Timing Satisfying the IRS Code Contributing factors for plan testing failure Plan design best practices We will also provide some working examples that will help with the overall planning picture….
…as employee status. It is also one of the top sources of plan errors that can have long term, expensive consequences. The start of the new year is an ideal time to learn more about best practices in compensation reporting to improve your plan’s outcomes….
With the Department of Labor regulations on investment advice fiduciaries vacated, the industry reverts to prior guidance on the proper steps to completing a compliant IRA rollover, including best practices as outlined in FINRA Notice 13-45. Attend this course to understand the changing rollover reality;…
…income. Was this an oversight or error on Congress’s part? Further clarification is needed. Plan sponsors and administrators will also need a mechanism, like the one for Roth IRAs, to recharacterize pre-tax catch-up contributions to designated Roth catch-ups and vice versa. Sponsors can provide de…
…needs and goals. To be an effective advisor, it’s important to recognize these distinctions and ask the right questions to determine the 401k that best fits your clients’ needs. And in a competitive environment, our ability to customize their plan and experience can make all…
…we focus on how we reduce complexity, how we reduce risk and how we deliver a great relationship – all things that differentiate us best. It’s no surprise that many of the people and companies we meet find it difficult to understand the vocabulary and…
…behalf of the plan. Some number of plan sponsors don’t know this even though we try to do our best to make this clear. There are real and serious consequences for them and for your relationship with them if they don’t execute their role well….
…guidance on how to best evaluate these programs and optimally align programs with opportunities. Learn more about the pros and cons of each type of design and how to best meet the needs of the enterprise recordkeeping partner to the investment manager and individual advisor….
…once ESAs become available.[11] The decision to allow plan participants greater flexibility to take money out of their retirement accounts early rests with plan sponsors. SECURE 2.0 offers numerous options, each of which must be judged according to the best interest fiduciary standard: Is this…
…and one provider as recordkeeper, TPA, investment manager and custodian. Investment offerings are usually limited, and service delivery reflects the choices and qualities of the provider who may or may not be a leader in all facets of retirement plan work. When we partner with…
…a 3(16) fiduciary can also help minimize liability. A “3(16),” named for the section of governing ERISA Code, can assume many key retirement plan responsibilities from the plan sponsor—such as reporting and disclosure tasks—in addition to others. By engaging a 3(16), plan sponsors not only…
…Rowan’s case, $10,000. The plan administrator determines the salary deferral ADP limit for the year is $8,000. The lesser of $22,500, $10,000 or $8,000 is $8,000. Therefore, any salary deferral Rowan would make above $8,000 (up to a maximum catch-up limit of $7,500 for 2023)…