…about retirement. Those include protecting and strengthening “Medicare as we know it”; preserving and strengthening Social Security (“the bedrock of American retirement”); equalizing tax benefits of defined contribution plans; and providing help for older workers who want to keep working. When – and whether –…
…There, among other items, he argued for equalizing those incentives in defined contribution (DC) plans for middle-class workers, ostensibly to bring them closer in line with upper-income families who currently receive a stronger tax break for saving. The ”Plan for Older Americans” also calls for…
…which information is correct.” Comments on the proposed regulations are due on or before October 1, 2020. The DOL expects that about 3,200 firms will apply to become PPPs: “Recordkeepers and plan administrators of existing defined contribution plans are most likely to enter the market,”…
…responsibility to a dependable, proven company can free up time and help protect both plan sponsors and their organizations from litigation. Keep in mind other sources of retirement income. Besides 401(k) plans and IRAs, defined benefit (pension) plans, employee stock-ownership plans, and of course Social…
…or unrelated – to file a single Form 5500 for multiple defined contribution plans – again, to help cut down costs and receive higher levels of service. The plans making up the GoP must have the same trustee, administrator, fiduciaries, investments and plan year in…
…summer, discussion has begun in earnest. The proposed bill (the American Jobs Plan) totals $2.3 trillion. First, it is important to define what is meant by “infrastructure.” Broadly defined, infrastructure is the basic system of services that a country and a society needs to function…
…Pooled Employer Plans (PEPs) may prove to be extremely attractive and beneficial to sponsors and participants alike. In addition, the wave of Defined Contribution (DC) plan-only retirees that we are seeing offers even another reason to expand retirement savings options. Guaranteed income, through in-plan annuities…
Cybersecurity is defined as the state of being protected against the criminal or unauthorized use of electronic data, or the measures taken to achieve this. What does this mean for your employer sponsored retirement plan? ERISA-covered plans often hold millions of dollars or more in…
…will be required to check a box on the 2021 Form 5500 indicating that the employer elects to treat the plan as retroactively adopted as of the last day of the employer’s 2020 taxable year.) In addition, if the plan is a defined benefit plan,…
The primary and, arguably, only reason individuals invest in defined contribution (DC) plans is to eventually have adequate income for retirement. Until recently, it seems the retirement industry has lost sight of that end goal. Many of the machinations of plan committees, plan advisors and…
…fit and there are situations where they may not be the best solution for plan participants. While most defined contribution plans include a stable value fund option, often the best choice depends on certain facts and circumstances. Considering a stable value product for a plan’s…
Each year nondiscrimination testing must be performed on your Defined Benefit Plan. Do you have a strategy in place? The right plan design strategy can address potential testing failures. Join us on as we provide insights into what’s involved with nondiscrimination testing and what you…