One of the many elements of business ownership and management is attracting and retaining productive employees. Offering the right mix of employee benefits tailored to your employee population can play an important role in...more
5/3/2024
/ CARES Act ,
Deferral Standard ,
Employee Benefits ,
Employer Contributions ,
Hiring & Firing ,
Internal Revenue Code (IRC) ,
Job Applicants ,
Recruitment Incentives ,
Reimbursements ,
SECURE Act ,
Student Loans ,
Tax Credits ,
Tuition
If you administer a 403(b) plan you should be familiar with the term “universal availability”. This concept means that, as a general rule, all employees must be allowed to make elective deferrals into the plan immediately...more
In the laundry list of retirement plan administrative and operational requirements, plan sponsors may sometimes overlook their obligations with respect to terminated vested employees. Even though these individuals have left...more
3/6/2024
/ 401k ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Former Employee ,
Individual Retirement Account (IRA) ,
Pensions ,
Required Minimum Distributions ,
Retirement Plan ,
SECURE Act ,
Vested Benefits
Congress continues to pass laws that move 403(b) plans ever closer to 401(k) plans, but 403(b) plans remain distinct. Understanding these differences allows you to maintain a compliant plan that best serves the needs of your...more
1/12/2024
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Churches ,
Colleges ,
Contribution Limits ,
Employee Benefits ,
Employee Contributions ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
Public Schools ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Exempt Entities ,
Universities
In efforts to expand access to retirement savings programs for more Americans, the SECURE Act and SECURE 2.0 both included new rules that will require plans to allow long-term part-time (LTPT) employees to make elective...more
While many provisions of SECURE 2.0 apply to various types of retirement plans, including 403(b) plans, this update will focus on those provisions of the Act that apply only to 403(b) plans....more