Lost participants are those participants who have balances in the plan (unclaimed benefits) or have been distributed an amount from the plan (uncashed benefit checks) and cannot be located. The participant either doesn’t know or forgot they have a balance … read more
If you are about to undergo a 401K audit, there are many things that can be done to ensure that the audit goes smoothly. This means getting audit packages ready early on, being in contact with the individuals that are … read more
Employee benefit plans are often a side note in the day-to-day transactions of a business, lacking the constant oversight and review given to the operational activities. Also, benefit plans involve the majority of the employees in a company in some … read more
We recently had some questions about how blackout periods work, and I learned a lot by consulting some of our TPA (third party administrator) colleagues and the DOL website. A blackout period is basically a time that participants temporarily lose … read more
The Profit Sharing/401k Council of America (PSCA) recently teamed up with the Principal Financial Group to survey over 700 403(b) plan sponsors about how they are coping with all of the recent changes their plans and non-profit organizations are experiencing … read more
Another year end has passed and now you are probably compiling and sending the 401(k) files to your third party administrator for them to complete their compliance testing, and other plan financial reports. Many of these documents will then be … read more
As we enter January of every year, it is time to start thinking about personal income taxes. While this is not a favorite to many, there are many important tax reporting forms that individuals must be on the lookout for … read more
Finding information on employee benefit plans can be difficult and time consuming. As a service to our clients, and other interested parties who are involved in or in need of employee benefit services, we'll gather all of the information for you. We'll keep you up-to-date on the latest laws and regulations and we will even add our own personal insight into what else is occurring in the employee benefits world. We will provide these posts weekly and hope to get your input and feedback on the various topics. We will also share that feedback with others, as we find appropriate.
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- How to Handle Forfeitures
- Benefits and Preparation for Auto Enrollment and Auto Escalate in a Benefit Plan
- What You Need to Know When Filing Form 5500
- Determination Letters Will Not be Issued for 403(b) Plans
- Plan Corrections Necessary? DOL Corrections Program
- Journal Entries for Benefit Plan Accounting
- Tips to Prepare for a Retirement Plan Audit
- 10 Steps to Put on Your Retirement Planning Checklist
- How is Compensation Defined?
- Hardship Distribution Documentation