…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…
…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…
…common inquiry related to excess salary deferrals. The advisor asked: “Why is March 1st an important date with respect to excess deferrals in a 401(k) plan? I thought a participant had until April 15th to correct an excess deferral.” Highlights of the Discussion March 1st…