Safe Harbor 401(k) Establishment Deadline
Elective deferrals and associated matching contributions made to a 401(k) plan must satisfy certain non-discrimination rules known as the “actual deferral percentage” (“ADP”) and the “actual...
View ArticleImportant CARES Act 2020 RMD Rollover Deadline Fast Approaching
As you may remember from the legislative update issued in our March 31, 2020 newsletter, the Coronavirus Aid, Relief and Economic Security Act of 2020 (“CARES”) Act was signed into law on March 27,...
View ArticleEmploying the Proper Definition of Compensation
The U.S. Department of Labor (“DOL”) and the Internal Revenue Service (“IRS”) routinely report common operational failures that such agencies detect in the context of retirement plan audits and...
View ArticleRequired Minimum Distributions
As we approach the end of the calendar year, it is important to be reminded about one frequently overlooked retirement plan requirement. Upon attainment of age 72, certain participants of a...
View ArticleADP Test Basics
The tax code governing 401(k) plans was written to prevent qualified retirement plans from overly favoring Highly Compensated Employees (HCEs). A series of non-discrimination tests were devised to...
View ArticleADP Test Corrections
The tax code governing 401(k) plans was written to prevent qualified retirement plans from overly favoring highly compensated employees (HCEs). A series of non-discrimination tests were devised to...
View ArticleTax Credit For Small Employer Start-Up Plans
Many employers are unaware that, in certain circumstances, they may be eligible for a valuable tax credit in connection with their establishment of a retirement plan. Although this particular tax...
View ArticlePlan Year Compliance Package
With the ever increasing need for complete disclosure; managing and maintaining all of the documents, forms, testing results, tax filings, etc. has become a daunting and exhaustive task. In addition,...
View ArticleForm 5500
Each year qualified retirement plans must successfully navigate through a myriad of deadlines and due dates. One of the most important deadlines for most plan types relates to the Department of...
View ArticleERISA Bond: What Is It and Do I Need ONe?
Almost every sponsor of every tax-qualified retirement plan must obtain a fidelity bond in accordance with section 412 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)....
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