…owners who sponsor retirement plans for employees as “3(16)” fiduciaries under federal law [ERISA Section 3(16)]. A 3(16) fiduciary is responsible for ensuring the plan is operated in compliance with the rules of ERISA day in and day out. One can say, the ERISA “buck…
…is on the participant to determine in which plan the excess was created and notify the plan administrator of the amount of excess deferrals allocated to the plan. Many plan documents include a provision that imposes a plan administrator notification deadline. IRC Sec. 402(g)(2)(A)(i) permits…
…– SEP, PEP, GoP, or MEP – outsourcing fiduciary duty to a reputable third party can save time, money and hassle. A third-party administrator (TPA) is, by design, someone who can keep track of all of the regulations, deadlines, changes, and other ins and outs…
…popularity, including the newest arrangements that credit interest based on market performance. The plan design discussion should no longer be limited to picking between one or the other—DB vs. DC, but, potentially, a combination of DB and DC. Why not have the best of both…
…have the plan design conversation? Cash Balance 101. Our virtual classroom is open and we want to provide you with the knowledge you need! Core Curriculum Plan Design best practices Strategic selection – which clients may be the best fit and why Talking points for…
…the plan. The named plan administrator is responsible for many things including: making sure eligibility is determined correctly, making sure that a number of required notices and mailings go out every year, making sure that plan-related payroll is properly processed and more. They are also…
…the right words so clients feel like they have a true partner. For example, discuss how and when you partner with attorneys, CPAs, and TPAs and recordkeepers to bring best-in-class service. Communicate how you proactively look for opportunities to optimize participation. Demonstrate how you and…
…we provide insights into what’s involved with nondiscrimination testing and what you need to know: Timing Satisfying the IRS Code Contributing factors for plan testing failure Plan design best practices We will also provide some working examples that will help with the overall planning picture….
…as employee status. It is also one of the top sources of plan errors that can have long term, expensive consequences. The start of the new year is an ideal time to learn more about best practices in compensation reporting to improve your plan’s outcomes….
With the Department of Labor regulations on investment advice fiduciaries vacated, the industry reverts to prior guidance on the proper steps to completing a compliant IRA rollover, including best practices as outlined in FINRA Notice 13-45. Attend this course to understand the changing rollover reality;…