August 21, 2019
The costs involved with funding a retirement plan for employees can greatly burden a small business. The U.S. Department of Labor has issued a final rule that can ease the burden.
April 18, 2019
Are you still working after age 70½ and don’t want to take required minimum distributions from your 401(k) account? You might not have to.
December 5, 2018
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year.
October 20, 2018
Hardship distributions have been burdened with red tape and regulations, but new rules that begin January 1 might make that part of an employee benefit plan a little less complicated.
August 22, 2018
Employee benefit plans are often vulnerable to fraud, but there are ways for business owners and managers to minimize risks.
December 6, 2017
Retirement plans continue to be one of the best income tax deferral techniques available, providing the joint benefits of a current tax deduction and deferred tax on investment income in the plan.
December 2, 2017
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2018.
September 13, 2017
Last year’s changes to the overtime rule under the Obama administration would have significantly impacted employers’ overtime liability and payroll taxes, but a federal court ruling blocked its implementation in November 2016.
June 5, 2017
If your employee benefit plan allows hardship distributions under the safe-harbor standards, you will want to be aware of a recent IRS memo on this matter.
June 5, 2017
Although a three-month extension delayed the applicability date (originally April 10), certain provisions of the Department of Labor’s fiduciary rule will be implemented on June 9, 2017.
December 11, 2015
The headlines about the Bipartisan Budget Act of 2015 were generally focused on how the legislation raises the debt ceiling through 2017, sets federal spending through the 2016 and 2017 fiscal years, and eases strict caps on spending. But, more importantly for many employers, the act also includes a number of changes related to defined benefit pension plans.
November 23, 2015
You have the best of intentions, but still it happens: You have failed to properly withhold 401(k) or 403(b) deferrals from an employee’s pay. What do you do?
July 22, 2015
The Internal Revenue Service encouraged eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program enabling them to quickly come back into compliance.
May 8, 2015
Many defined contribution plans include participants who are no longer employees, but a problem arises when former employees can’t be located or contacted. These “missing (or lost) participants” can have a significant financial impact on both terminated and active plans because related administrative costs and professional fees are often incurred.