…plan to maximize the owners’ savings and tax benefits or is it intended to attract and retain top talent? Is financial wellness of the employees important to the company? After all, a 401(k) is a great savings vehicle, but it only works best when employees…
…gain access to a new layer of prospective retirement plan clients. How Does a Pooled Employer Plan Work? Simply put, a PEP allows multiple employers to adopt a retirement plan that covers their employees under one overall plan. Rather than each employer establishing a separate…
…minimis financial incentives to employees to encourage employee deferrals in 401(k) and 403(b) plans. This provision is optional and could be used as early as 2023. It’s likely that a plan amendment would not be necessary. Financial incentives could include such things as a small-value…
How does an advisor benefit from partnering with a CEFEX-certified TPA? And why is it important? Listen in to find out…
What does it mean for a Third Party Administrator to be…
How does a plan sponsor benefit from its advisor being CEFEX…
The Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) have extensive reporting and disclosure requirements for qualified retirement plan officials. These reporting and disclosure requirements serve the important function of educating and supporting participants in their retirement planning journey,…
In a merger and acquisition (M&A) situation, where the acquiring organization does not assume the seller’s retirement plan, what is something that the selling company often overlooks with respect to its retirement plan? M&A scenarios are notorious for treating retirement plans as an after-thought. Because…
This is the second article on the recent IRS “Grab Bag” guidance on provisions of SECURE 2.0 (Notice 2024-02). Let’s dive into the guidance on SECURE 2.0’s cash balance provision. To start with the bottom line: The Grab Bag guidance will generally allow plans that…
If you are ready to explore the possibility of establishing a retirement plan for your business, there are many plan design options that may fit your needs. Whether your business is large or small, whether it has unique requirements or not, or whether you simply…
For decades—before the 401(k) plan came on the scene—defined benefit (DB) pension plans ruled the retirement plan world. If an employer offered a retirement plan, it was quite likely a DB plan. Certainly governmental and union plans were almost always DBs. And many private sector…
The management of retirement plans has become increasingly complex, demanding that plan sponsors navigate evolving regulatory requirements, administrative responsibilities, and fiduciary obligations. As key stakeholders in retirement plan oversight, financial advisors often serve as the first line of defense, guiding clients through administrative challenges, mitigating…