Search Results

We have found 155 results matching your search query.

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

In Part 2 of our series on 401(k) administration errors, I will discuss some other problems we commonly see when working with clients – particularly new clients – and how we address them. “You won’t have to do anything at the end of the year.”…

Administering Your Own Plan: What Could Possibly Go Wrong?

As many people are aware, serving as the fiduciary or plan administrator for your company’s retirement plan can be a tricky business indeed. After all, most company executives have other bits of business to tend to besides making sure they fully understand their legal duties…

A Look at What the Biden-Sanders Task Force Report Means for Retirement

The “Combating the Climate Crisis and Pursuing Environmental Justice” policy paper issued earlier this month by former Vice President and presumptive Democratic Presidential nominee Joe Biden and Sen. Bernie Sanders (D-VT) may not sound like something that those concerned with retirement should necessarily worry about….

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

Getting Ready for a PEP Rally!

The U.S. Department of Labor’s (DOL) June 18, 2020 request for information (RFI) on prohibited transactions involving Pooled Employer Plans (PEPs) is good news for plan sponsors and potential participants alike. As we wrote at the time of its passage, one of the major provisions…

Finding Security in Social Security

Despite widespread evidence to the contrary, many American workers appear to still believe that Social Security benefits will be enough to see them through their retirement. Whether that’s true depends on a number of factors affecting each individual. But the nation’s general reliance on Social…

401(k)s and Student Loans – A Good Match?

Millennials are not the only cohort to have student loan debt, but they are the latest and the largest. According to the U.S. Federal Reserve, 44.7 million Americans (not all Millennials) owe $1.56 trillion in total student loan debt. One study showed that 69% of…

New Self-Certification Rules for Hardship Distributions Should Be Embraced

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently published final regulations modifying the hardship distribution rules for profit sharing, 401(k), 403(b), and eligible governmental 457(b) plans. And as you might guess, plan sponsors and participants alike need to know what…

The SECURE Act Has Finally Passed – What Does It Mean? (Part Two)

Continuing a look at some of the other major provisos in the recently passed Setting Every Community Up for Retirement Enhancement (SECURE) Act, I would like first to discuss its change in how compensation for some health care workers is treated. Many such workers do…

Hardship Cases Can Be Hard Work

Working with plan participants looking to make a withdrawal from their retirement plan to deal with a hardship can be challenging – especially for employers/plan sponsors. One Pentegra advisor recalls how one of his clients – a fairly large one – prefers not to get…