Common 403(b) Plan Mistakes

The IRS issued the following listing of recurring mistakes noted in 403(b) plan audits: 1. Failure to be a qualified employer – Only public schools and certain tax-exempt charitable organizations qualify. 2. Failure to properly apply universal availability –This occurs when eligible employees are excluded from participation. 3. Failure to limit employee elective deferrals – The general limit …

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What Fees are being Charged for your 401(k) Investment Offerings?

If you have hired an investment consultant to assist your plan participants in choosing the funds offered in your 401(k) plan, you probably feel comfortable with your investment options, even more so if you periodically replace poor performing funds with funds that have more potential. These are good practices; however, the responsibility of the plan …

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