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401(k) Solutions

Avoiding Noncompliance “Traps” Under the SECURE Act

The recently passed SECURE Act offers provisions that benefit employers sponsoring 401(k) plans and their employees, all with the goal of helping more Americans enjoy financial security in retirement.  However, sponsors must be ever vigilant to avoid the “trap” of noncompliance, as the SECURE Act creates significantly stiffer penalties for failure to meet certain filing and notification requirements.

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2020 A Time to Focus on SECURE Act Incentives

Aptly named the SECURE Act, a law passed by Congress in the waning days of 2019 seeks to help Americans enjoy greater financial security in retirement.  The Act contains a wide-ranging set of provisions.  While some await the development of implementing regulation, others are immediately available for employers’ consideration and offer benefits for both their organizations and employees.

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Four Essential Tips to Simplify Year-End Plan Administration

November . . . December . . . January . . . these are busy months for 401(k) sponsors whose plans have a December 31 year-end.  With forethought, there’s the opportunity during this busy time to ease plan administration and avoid errors.  Before you’re too far into November, consider four areas where a little effort now could reduce frustration down the road.

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Know Your Safe Harbor Plan Design Options, Part 2

For employers that choose to operate 401(k) Safe Harbor Plans to encourage all employees to enjoy the tax advantages available to contributing participants, we shared two Safe Harbor Plan design options and their benefits in a previous blog. Today we’ll look at a third Safe Harbor Plan design that provides additional benefits to employers and encourages greater participation and deferrals (contributions) on the part of plan participants.

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Seizing Opportunity with an Annual Plan Review!

July 5, 2019 - Today’s 401(k) plans offer employers a world of options. A mid-year plan review positions sponsors to identify areas where improvements are possible. Adopting new plan design features can significantly improve a 401(k) plan to meet organization needs and help employees build toward a secure financial future. Since many plan design changes require notice to participants 30 days before the beginning of a new plan year, now is a good time to schedule a review of plans with a December 31 year-end date.

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Do You Provide Employees What They Want?

June 6, 2019 - It’s a fact: surveys show employees value their company’s 401(k) plan. Here are other key survey insights into what employees want as well as tips to improve your plan in response – thus, helping your employees build toward a more secure retirement.

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Three Insurance Facts for Plan Sponsors

May 1, 2019—401(k) plan sponsors can benefit from knowing three simple insurance facts.  This can help keep sponsors compliant, eliminate potential reporting errors that could trigger a DOL audit, and cover their defense if charged with imprudent plan management.  Given that there’s so much for employers with company retirement plans to keep track of, these simple facts often are either unknown or forgotten . . . with plan sponsor fiduciaries exposed to potential liability.

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