Changes to Form 5500 Audit Requirements Will Save Small Plans Time and Money
A revision regarding which qualified retirement plans need independent audits when filing Form 5500 takes effect this year. The update concerns how plan participants are counted and it determines what qualifies as…
CEFEX TPA Overview Value to Plan Sponsor
The very best tpa firms understand the importance of operating at the highest standard. Plan administration requires dedication to details, accuracy, and client satisfaction.
How to Handle Retirement Plan Missing Participants
Companies that offer a qualified retirement plan (a defined contribution or defined benefit plan) must often deal with the challenge of finding a missing participant. This happens when former employees do not provide current contact information, are no longer actively...
Rothifying a 401(k) Plan: Five Things Advisors and Plan Sponsors Need to Know About SECURE Act 2.0 and Roth Accounts
Some provisions in the SECURE Act 2.0 have a direct effect on 401(k) and other qualified retirement plans. The provisions outlined below are specific to the “Rothification” of certain retirement plans. These Roth-related features and options—regarding contributions and RMDs—are highly pertinent to plan sponsors and advisors with a retirement plan practice.
How Outsourcing 3(16) Fiduciary Services to Intac Futureplan Saved a Medical Practice Valuable Time and Money While Ensuring Plan Compliance
When a small business offers a workplace retirement plan, it must have the manpower to manage all the required administrative work to run the plan. When human resources are stretched, the plan sponsor can choose to outsource the company’s 3(16) fiduciary…
Cash Balance Plans, Qualified, and Nonqualified Retirement Plans: Which is Right for Your Business?
The small-business owners we serve often have questions about implementing a cash balance plan or nonqualified retirement plan. These are two distinct plans that share a common goal: to accelerate retirement savings.
Employers: You Can Add a Roth 401(k) Feature to Your 401(k) Plan
Employers that already offer a 401(k) plan to their employees can add the opportunity for them to make Roth 401(k) contributions to maximize their retirement savings.
New Plan Tax Credits
When we talk about new retirement plans, we usually focus on the savings advantages they grant to business owners or the big-picture advantages of helping employees achieve ongoing financial wellness. Tax credits granted to plan sponsors are another important, but...
Paying Fees from Plan Assets
COVID-19 is obviously causing financial stress and, when it comes to your clients’ qualified retirement plans, they may be looking for ways to reduce expenses. In this talk, we’ll detail the three options they have to use plan assets to pay some plan expenses as long...
The Power of Re-Enrollment
Auto-enrollment and automatic contribution increases have proven to be popular and successful retirement plan design features that get more people to save for retirement. A little less known is “re-enrollment.” It’s another important tool we have to help encourage...