Retirement Planning

13 Ways the SECURE Act Impacts Employers and Retirement Plans

January 9, 2020

Congress recently passed, and the President signed into law, the SECURE Act, landmark legislation that affects the rules for developing and maintaining employer-provided retirement plans. Whether your business currently provides your employees a retirement plan, or are planning to do so, you should consider how these new rules may affect your current retirement plan (or…

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employee benefits 401k

New Tax Law Has Implications Related to 401(k) Loans to Participants

April 3, 2018

By Angela Juvelis, CPA, Senior Audit Manager Many employer-sponsored 401(k) plans allow for participants to borrow against their vested account balance as a “loan to participant.” Loans to participants are legally enforceable agreements, which also carry tax ramifications when repayment is not adhered to per the Internal Revenue Code and plan rules. Passage of the…

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employee benefits

How to Make the Most of Your Defined Contribution Plan

February 27, 2018

Most of us will depend on defined contribution plans, such as 401(k) or 403(b) plans, to fund much of our retirement. If this includes you, it’s important to understand how to make the most of the money you’re saving — both short- and long-term. Here are some tips. Stay on Top of Matching Contributions Many…

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Reimbursement Road Map for Sponsor Services

February 23, 2018

As illustrated in a recent case, Perez v. City National Corporation, thorough expense documentation is critical when a retirement plan sponsor is reimbursed for administrative services rendered on behalf of the plan. To Determine Reimbursement The Employment Retirement Income Security Act (“ERISA”) sets forth certain standards for plan sponsors which they are required to meet…

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Close to Retirement?

Making a Change

January 27, 2018

Six Financial Planning Steps for the New Year To many cultures, the beginning of a new year is a time for new beginnings and self-improvement. Along with the old standard of promising to exercise more and eat less, many Americans use the change in calendar as a reason to address their bad financial habits. For…

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The Right Plan?

GAO Report: Some Plan Designs May Reduce Retirement Savings

December 11, 2017

There are various practices that retirement plan sponsors can utilize to reduce their outlays for younger employees, and those that relocate to other employers soon after being employed. The General Accountability Office (“GAO”) recently examined those plan design opportunities, and is signaling alarm bells. The GAO has communicated their apprehensions to Congress that these options…

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