Importance of Plan Amendments

With the ever changing regulatory landscape surrounding employee benefit plans, it’s important that the plan sponsor consider the impact of regulatory changes.  As discussed in previous blogs, there are a significant number of fiduciary responsibilities bestowed upon a plan sponsor.  One of these responsibilities is to keep the plan in compliance with all current laws …

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What is Compensation?

Compensation is key for 401(k)’s and other employee benefit plans. In many plans employees make contributions based on a percentage of their compensation. Other times, employer matching or profit sharing uses compensation as the basis for allocating employer contributions to employees. Compensation is generally defined as gross wages, which are subject to income tax withholding. …

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