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SECURE – What It Can Mean for Small Businesses

Understandably, the global and national effects of the COVID-19 pandemic are top of mind today. But, now that we generally appear to be on the downside of the coronavirus’s curve, it is worth revisiting the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and

The CARES Act and Your Retirement Plan

The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law on March 27, is designed to provide much-needed economic relief to individuals and businesses adversely affected by Coronavirus (COVID-19). But what everyone might not know about CARES is that it also…

ERISA-Related Lawsuits Beg the Question: How Much Is Too Much?

How much is too much? Recent Employee Retirement Income Security Act (ERISA)-related lawsuits have made the question “top of mind” for many in our industry. In one case, the Trader Joe’s grocery chain has been charged with “breaching its ERISA fiduciary duties in the management,…

Are More Modifications Needed Before We Feel SECURE?

When the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was finally signed into law on December 20, 2019, it was a cause for celebration among retirement industry professionals everywhere. After all, the SECURE Act was the first major legislation for our…

Five Key Concerns for Retirement Plans in 2020

New years are often viewed as opportunities for new beginnings. And while that may be true, it is also the case that a new year can present new problems – or in some instances, the continuation of old problems. When it comes to defined contribution…

Dealing with the DOL and Missing Plan Participants

There are two sides to a particular coin being minted by the U.S. Department of Labor (DOL); namely, its efforts to get plan fiduciaries to work harder when it comes to locating terminated vested participants in retirement plans. On one side is the plain fact…

Electronic Delivery of 401(k) Information: An Idea Whose Time Has Come

We regularly hear of businesses going paperless as the time and money spent filling out, sending and storing paperwork has continued to spiral upwards. Filing forms electronically, digitizing data, and saving it to “the cloud” can be a much more cost-effective method than continuing to…

Retroactive 2021 Tax Planning; Overlooked Deductions and Credits

With 2021 behind us, many business owners are discovering that, despite COVID-related challenges, they had a good year from a business perspective. That means it would be great to have additional tax deductions and credits to help reduce the business’s overall tax liability. Fortunately, certain…