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Why Make Company Stock Part of Your Retirement Plan?

…Initial Public Offering (IPO). HOW DO YOU INCORPORATE COMPANY STOCK IN A RETIREMENT PLAN? 401(k) plan with stock option A 401(k) plan with employer stock as an investment option combines the equity ownership of employer securities with the retirement savings benefits of a 401(k) plan,…

Not So PEPpy? Think Group of Plans

…is of course a solid option as well, but by its very definition, an employer may not realize the collective bargaining power that the economies of scale can afford them in a GoP, PEP, or multiple employer plan (MEP). Another not insignificant detail when it…

A Wish List for Santa

…about that – and then think again! Easier access to Multiple Employer Plans (MEPs). A MEP can be a cost-effective way of managing a retirement plan, making it simpler for a given company or business owner to run its plan while providing a level of…

The Importance of Plan Compliance

…any calendar year for which the plan is deemed disqualified. IRS Example: Pat is a participant in the XYZ Profit Sharing Plan. The plan has immediate vesting of all employer contributions. In calendar year one, the employer makes a $3,000 contribution to the trust under…

Consequences of Plan Disqualification

…them over to an individual retirement account or another employer’s retirement plan. Distributions generally are taxable to the recipients in the year they are received. For Employers If your retirement plan is disqualified, your deductions for contributions to the plan could be restricted and delayed….

Your Company’s Retirement Plan – Time for a Check-up?

No question, keeping a retirement plan in compliance with tax and pension law requirements can be challenging for employers. Since mistakes in plan administration are not unusual — and can be costly if uncovered in a government audit — it’s smart for employers to review…

What Is A Section 79 Plan?

…Typically, employees are offered three options. (1) Permanent life insurance with a death benefit that is a multiple of salary, (2) term insurance with a death benefit that is a multiple of salary, and (3) $50,000 group term insurance. The multiple of salary offered is…

Second Thoughts About the SECURE Act

…employees, through an Open MEP (Multiple Employer Plan); raise the required minimum distribution age from 70½ to 72; and concurrently remove the age limit for contributing to Individual Retirement Accounts (IRAs). It also would make it easier for employees to transfer their retirement plan assets…

Five Retirement Plan Changes that Employers Should Consider

“Set it and forget it” might be the approach that many participants prefer to take when it comes to their retirement plan account, but for employers such an approach can be extremely limiting – or even detrimental. As with most components of a successful business,…

The Ins and Outs of Plan Notices

…a new copy of the SPD must be distributed every 10 years. Can the SPD be sent electronically to participants? If certain requirements are met, employers may furnish the SPD using electronic media, such as the Internet, an intranet, or e-mail. However, employers should ensure…

The Ins and Outs of Fiduciary Outsourcing for Community Banks

…ultimately belongs to the bank, it is the named fiduciary who holds the liability in such instances. Such an arrangement can also be of value in the case of multiple employer plans (MEPs), an employee benefit plan that can be maintained as a single plan…