Retirement Plans
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Building Toward a Better Retirement: Choice Architecture and Plan Participants
Overwhelming. That’s normally the first response plan participants give as to why they didn’t start saving for retirement. HR professionals and retirement consultants have heard it before, “Too many options; too many decisions; I wasn’t sure what these words even meant.”
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December 2018 Wreaks Havoc on Pension Plan Termination Funding – Could It Have Been Avoided?
The last few months once again have shown how volatile pension plan funded status can be. In 2018, leading up to December, many thought that their pension plans were getting closer and closer to being financially ready for a plan […]
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When a Retirement Plan has the Beneficiary Blues
If you’ve administered a retirement plan for any length of time, then you’ve probably “sung the blues” at some point when it comes to distributions to beneficiaries. Whether it’s the hassle of incomplete beneficiary designation forms; the mathematical mystery of […]
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2019 Pension Plan Compliance Calendar
Calendar Plan Year & Calendar Employer Tax Year* January 2019 15 Due date to make fourth required quarterly contribution for 2018 plan year 31 Last day to file Form 945 to report withheld federal income tax from distributions 31 Last day […]
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IRS Announcement May Allow Lump Sum Window for Retirees
The Headline Pension plan sponsors may have a new tool available to use in de-risking their pension plans – paying lump sums to retirees currently in payment status. As with some other de-risking initiatives, a retiree lump sum window could […]
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Scared vs. Prepared: Conducting an Operational Compliance Review
Well, it arrived. On your desk is a white envelope with a return address to the Federal Government. Are you prepared for this day? Are your procedures up-to-date? Fortune Favors the Prepared No one likes finding out that they are […]
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Two of a Kind? Not All 457(b) Plans Are the Same
You may already know there are significant differences between a 457(b) plan sponsored by a governmental entity and a 457(b) plan sponsored by a tax-exempt organization. But do you know what they are? It can be confusing for plan sponsors […]
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Mapping Your Route to Pension Plan Termination Readiness
Trying to nail down the financial aspect of being ready to terminate a pension plan is like trying to hit a moving target. And, unfortunately, it is not the only consideration to determine if your pension plan is ready to […]
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IRS Releases 2018 Required Amendments List for Qualified Retirement Plans
The Internal Revenue Service (IRS) recently issued Notice 2018-91, which contains the Required Amendments List for 2018 (2018 RA List). The 2018 RA List does not reflect any changes in qualification requirements. This means that for individually designed plans there […]
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IRS Issues Proposed Regulations on Hardship Distributions
Just in time for 2019, the IRS has complied with a directive it was given by Congress in the Bipartisan Budget Act of 2018 (BBA 2018) and provided needed guidance on changes to 401(k) hardship withdrawal rules. These changes increase […]
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