…Q2 (20.6% for the year-to-date, “YTD”). Large-cap stocks significantly outperformed their small-cap counterparts for the period as the Russell 2000 Index fell by -2.4% (14.2% YTD). Meanwhile, the Russell Midcap Index returned 0.5% for the quarter (21.9% YTD). In terms of style, value outperformed growth…
…chance at putting aside real savings for their retirement. On the administrative side, there are a number of improvements that should also be noted. SECURE permits businesses to treat qualified retirement plans adopted before the due date (including extensions) of the tax return for the…
…the information regarding pooled plan providers posted on its website and available to the public is up to date. “Otherwise,” it continued, “the Department, employers, and the public would have to rely on outdated information until a Form 5500 was filed for the plan and…
…is the federal government’s latest economic stimulus package and the first under President Biden. Key Items Defined Benefit Single Employer Plan Funding Relief Defined Benefit Multiemployer Plan Funding Relief Impacts to Defined Contribution Plans Update on The Securing a Strong Retirement Act of 2020 (SSRA)…
…are many PEPs out there to choose from, but even at this early date in the calendar year it does not look like the prediction from the U.S. Department of Labor (DOL) that 3,200 firms would apply to administer PEPs — Pooled Plan Providers (PPPs)…
…31, 2021, with respect to individuals who attain age 72 after that date. The Increasing Retirement Amount Act would allow individuals who do not have access to a workplace retirement plan to save more of their money for retirement by increasing their individual retirement account…
…Rainy Day Savings Act (S. 2600) would enable individuals to build emergency savings during tax time by allowing filers to save a portion of their tax refund via postponing 20% of it to a later date and placing it into a “Refund to Rainy Day…
…off or things are not looking good, the team gives the plan sponsor a “heads up,” and suggests corrections early on. It could be something as simple as a fixing a wrong birth date for a participant or applying the proper definition of compensation from…
…up-to-date retirement plan document cannot be overstated. Failure to do so could result in serious tax consequences for the plan sponsor and participants. Even though the actual plan document need not be restated until 2022, the plan’s operations must conform to the various new requirements…
…the administrative burden for plan sponsors. This provision is effective for plan years beginning after the date of enactment of SECURE 2.0. 3. Expanding Automatic Enrollment in 403(b) and 401(k) Plans Automatic enrollment will be a mandatory feature for all new 403(b)/401(k) plans established after…
…retirement; see how a plan governance process may help reduce fiduciary liability; identify plan design elements that may help plan sponsors achieve personal and business goals; and stay up to date on plan compliance issues. *Disclaimer: This recording is not eligible for Continuing Education Credits…
…established on the date it becomes effective for the employer. The timing requirements for eligibility for the contributions credit work in a similar way: The 5-year contributions credit period begins with the first taxable year during which the eligible employer plan is established. The $100,000…