Newsletter

Form 5500 Insights Every year, most employers file a Form 5500 for each qualified plan that they sponsor. The purpose of the Form 5500 is to provide required information to the Department of Labor (DOL), but it can also provide valuable insight to the plan sponsor. The Form 5500 has several “types” and the type […]

Timing of Deposits 401(k)/403(b) Deferrals and Loan Repayments One of the questions asked by your TPA during the annual census collection may be whether your participant contributions and loan payments were transmitted within the Department of Labor (DOL) safe harbor time frame. It’s an important question because both the DOL and the Internal Revenue Service

2022 – An Ideal Time to Review Plan Design Each year, those in the retirement community collect, analyze and calculate data to ensure plan compliance with the laws that govern qualified retirement plans. The calendar of deadlines repeats each year, challenging plan sponsors and service providers to focus on the current plan compliance along with the

Save More for Retirement in 2022 On November 4, 2021, the IRS announced the Cost of Living Adjustments affecting the dollar limitations for retirement plans for 2022. In October, the Social Security Administration announced a benefit increase of 5.9%, the largest increase in nearly 40 years. Following suit, many retirement plan limits have increased as

Missing Participants: Ready or Not, Here I Come! Most plan sponsors can relate to the trials and tribulations of having missing participants in their retirement plan. At times, it may feel like you are on the losing end of an intense game of hide-and-seek. Your opponents, the missing participants, may not have intended to pick the

Retirement Planning is a Team Sport Some would say that retirement plan administration is a team sport! Putting together technical and compliance competence with ongoing investment and fiduciary expertise is key to keeping your plan healthy and participants happy. So, what roles and responsibilities should you look to fill for your firm to have a

Upcoming Compliance Deadlines for Calendar-Year Plans 1st February 2021 IRS Form 1099-R – Deadline to distribute Form 1099-R to participants and beneficiaries who received a distribution or a deemed distribution during the prior plan year. IRS Form 945 – Deadline to file IRS Form 945 to report income tax withheld from qualified plan distributions made during the