Required minimum distributions (RMDs) are the minimum amounts that must be withdrawn from a retirement account when a participant reaches age 70 ½ or if later, the year he or she Continue reading
The IRS issues favorable letters for various types of plans that meet the requirements of the Code. The type of letter a Plan needs to obtain depends on the structure of Continue reading
If you are either quick to toss things, or are one who keeps things around until you run out of space, you might want to take a step back and reevaluate Continue reading
Plan Sponsors often fall short in one simple area of plan administration: record keeping. It is important that Plan Sponsors keep proper documentation for each area of the Plan. One important Continue reading
You’ve read all the articles and DOL publications about how to choose a Third Party Administrator (TPA) (see Monitoring your TPA, Selecting a TPA, Duties of Plan Administration, and Fiduciary Responsibilities). Continue reading
If your plan allows for hardship distributions, as a Plan sponsor you are required to verify that proper evidence has been obtained which verifies the participant has immediate and necessary need Continue reading
Considering the current state of the economy and the new and complex regulations, I was pleasantly surprised to read some interesting survey results that indicate the 403(b) retirement plan system appears Continue reading
In order to ensure that employee benefit plans do not violate certain standards that the DOL/IRS believe are important, plans must be subjected to numerous compliance tests annually. These tests are Continue reading
If you contributed to your 401k plan during a year and then received a refund for a portion of your contributions for that year, then chances are your Plan failed the Continue reading
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