Retirement Plans
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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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Reminders of What’s New for Plan Sponsors in 2019
Retirement and health and welfare plan sponsors have a relatively short list of employee benefit changes that begin on or around January 1, 2019. However, some changes were announced so long ago that they could be easily forgotten; here’s a […]
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Employee Benefit Plan Limits for 2019
Findley is pleased to provide you the following 2019 limits (and comparable 2018 figures) for various employee benefit plans and Social Security. Employee Benefit Plans 2018 2019 401(k) elective deferral dollar limit $ 18,500 $ 19,000 403(b) elective deferral dollar […]
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Pension Plan Liabilities to Decrease with Updated Mortality Scale
The Society of Actuaries’ (SOA) Scale MP-2018 mortality improvement rates are slightly lower than the corresponding Scale MP-2017 rates issued last year. With the release of the new scale on October 23, 2018, the SOA estimated that pension obligations will […]
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Government Pension Plans in Focus: Is the Plan Actuarially Sound?
If stakeholders in a government entity’s pension plan were told that the plan is actuarially sound, they would probably believe that a simple, clear definition of actuarial soundness is known and understood by all actuaries and that every actuary would […]
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IRS Updates Model Tax Notices for Eligible Rollover Distributions from Retirement Plans
In its recent Notice 2018-74, the Internal Revenue Service (IRS) provides updated model tax notices for the required written explanations given to recipients of eligible rollover distributions from qualified retirement plans. These updated notices reflect recent changes to the laws […]
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Using Actuarial Experience in Managing a Public Pension Plan
For government pension plan sponsors, regular analysis of the plan’s experience is a vital tool in the ongoing financial management of the plan. The experience analysis not only provides monitoring of recent trends, it is the basis for determining the […]
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Pension Accounting Changes Reduce Volatility and Increase Flexibility
Reorganization of how portions of net periodic cost are recognized in a pension plan sponsor’s income statement is effective for privately held entities beginning after December 15, 2018. Now that the items most sensitive to the interest rate environment are […]
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401(k) Student Loan Benefits Still Around the Corner for Most
You would have to be hiding under a rock not to have heard that student loan debt in the United States is a runaway train. Millennials reportedly rank student loan assistance as an employee benefit that would not only attract […]
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A Hidden Hazard of Plan Administration—A Mishandled Power of Attorney
Plan sponsors have a lot to think about with the administration of their employee benefit plans. There may be loans, hardship distributions, beneficiary designations, and numerous optional benefit forms. It can spin heads. Fortunately, federal law (i.e., ERISA and the […]
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