…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” test – compares employer matching contributions between these two groups. And the Top-Heavy test which determines if…
…distributions from traditional Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans for 2020; waiving the 10% tax penalty for early distributions from 401(k), 403(b), 457(b) plans and IRAs, under certain circumstances; and increasing the maximum amount of a loan from an employer-sponsored 401(k) plan, from…
…and Cory Booker (D-NJ). The Retirement Security Flexibility Act (S. 2602) would improve access to retirement plans and protect against burdensome regulatory requirements. Title I, “Expanding Coverage And Increasing Retirement Savings,” would: Expand access to retirement-savings vehicles by giving employers more flexibility when setting up…
…They can have modest limits on contributions or can go up to multiple six figures in DB and cash balance plans. The key driver here is that unless a client is simply focused on the least expensive way to offer any sort of “retirement benefit,”…
…inflation to rise above that level before considering pulling back on its support. The Fed, along with federal stimulus programs, have helped stock markets surge to record levels, sustaining multiples rivaling the dot-com era of 1999 and 2000. So why are we hearing more concern…
…convertible to dollars. Cryptocurrencies are generally unregulated and would raise multiple fiduciary and legal concerns for an ERISA benefit plan. Its short history precludes meaningful risk and return analysis. Overview of the Cryptocurrency Market According to Bianco Research, the size of the cryptocurrency market is…
…another 22 percent said that they “have other savings priorities.” (Multiple answers were allowed.) On the time side of the equation, 45 percent said that retiring earlier was their top priority – the survey did not define what “earlier” means in this circumstance. Drilling further…
A review of the multiple proposals Congress is currently considering that have the potential to dramatically reshape the retirement plan marketplace….
…and service agreements. Plan officials are faced with analyzing and interpreting numerous documents from multiple entities. By creating a governance process, plan officials can help ensure plan operations are consistent and adhere to fiduciary standards. *Disclaimer: This recording is not eligible for Continuing Education Credits….
Plan rules and procedures are contained in a series of governing plan documents and service agreements. Plan officials are faced with analyzing and interpreting numerous documents from multiple entities. By creating a governance process, plan officials can help ensure plan operations are consistent and adhere…
…consultants and a key tool to have in your arsenal. With a Defined Contribution plan, it’s the employees who make many of the contributions and take on the investment risk. Their retirement benefit is their accumulated balance. With a Defined Benefit plan, the employer makes…
…employer-sponsored money purchase plans are included in those retirement plans that qualify for the temporary rules enacted under the CARES Act, which allow individuals to make penalty-free withdrawals from certain retirement plans for coronavirus-related expenses. Such plans cover less than one-fifth of private industry workers,…