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Five Key Concerns for Retirement Plans in 2020

…the Senate last year, is expected to be reintroduced this year; in fact, the House Ways & Means Committee held a hearing on the bill on Feb. 6. The bill would expand multiple employer plans (MEPs) and alter some restrictions in an effort to make…

Pensions, Retirement and Markets: Five Questions for 2020

…to join together to create open Multiple Employer Plans (MEPs) and to expand retirement plan participation to part-time workers. 5. Will Exchange Traded Funds (ETFs) continue their rapid growth? While ETF assets remain a relatively small fraction of the total of passive index funds and…

Why Non-Profits Should Embrace the 403(b) MEP

A blog by Pete D’Angio, CFP, CRPS, National Director, Not-for-Profit Markets, Pentegra Retirement Services – November 21, 2016 Small to mid-size plan sponsors have for years been simplifying their 401(k) plan oversight by merging their plan into a Multiple Employer Plan (MEP), a retirement plan…

Driving your Organization’s Success using Benefits as a Recruitment Tool

…is a retirement plan. Today, with unemployment trending lower, wage growth is picking up. This is good news for job candidates. Employers have positions to fill, which also means that workers now have leverage, confidence and options. For organizations competing for job candidates, a comprehensive…

Understanding Forfeitures

…can Redistribute the forfeited amount to the remaining eligible participants. Or they can Apply the forfeited money towards reasonable plan expenses. This reduces the employer’s out of pocket expense of maintaining the plan. Or the forfeited money can be used by the employer to reduce…

Employer Connect: When to Set Sail with Safe Harbor

…highly compensated employees can’t be more than two points more than that of the non-highly compensated employees to pass this test. The ACP test – which stands for – Actual Contribution Percentage – compares employer matching contributions between these two groups. And the Top-Heavy test…

Depositing Plan Contributions Timely

…and may result in significant penalties, including possible loss of the plan’s tax-qualified status. Seven-day safe harbor. Employers that sponsor small plans (those with fewer than 100 participants) can avoid potential problems by satisfying a seven-day safe harbor rule. Under the safe harbor provision, employers…

Auto-Portability: A Way to Address 401(k) Leakage

…be on the way in the form of auto-portability – the standardized and automated movement of an inactive participant’s retirement account from a former employer’s retirement plan to their active account in a new employer’s plan. In 2017, the Employee Benefit Research Institute (EBRI) stated…

Enhancing Your Bank’s Competitive Position with an Executive Benefit Plan

…candidate who is considering multiple offers. The bottom line: benefits, especially retirement benefits, can be a game changer. What are your top three compensation challenges? Source: Bank Director 2017 Compensation Survey A tighter job market requires that an organization present itself as an employer of…

Pentegra at 75: Still Going Strong

…the wayside in most industries, with a shift toward the defined contribution plan like the 401(k), which revolutionized saving for retirement when it was enacted into law in 1978. The 403(b) savings plan, the individual retirement account (IRA) and Roth IRA, the multiple-employer plan (MEP)…

Tales of 401(k) Administration Gone Awry – Part 2

…first eligibility; the second, regarding matching funds, must be made manually by the employer. Should that task go unattended, the employer ultimately will have to make up back contributions plus interest. Shouldn’t have sent the check. In one case, a former employee at a doctors’…

Getting to the Truth of a True Up

…Revenue Service (IRS), which determined that the matching true-up was calculated incorrectly. The employer went to their then-plan service provider – which was not acting in a fiduciary capacity — whose response essentially was that the employer must have supplied them with the wrong numbers….