401(k) Solutions

Retirement sponsors know it: while others are ringing in the new year, January is a time for 401(k) plan administrators to assemble, scrutinize and validate prior-year data for plans with a December 31 year-end date. Diligent information scrubbing is important. “Clean” data will result in accurate testing and tax filing. A lack of attention to detail can result in tax-filing errors, the need for voluntary corrections, regulatory audits, and – worst-case – plan repayments, fines and penalties.

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December 6 - There are good times and bad times to be noticed.  Most 401(k) plan sponsors don’t want to be noticed (and then investigated) by the U.S. Department of Labor. But employers need to provide notices to employees as they become eligible to join a 401(k) plan . . . or face potential employee complaints and DOL investigation.

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November 1, 2018 — It’s an important time of year for most 401(k) plan sponsors: the time to give notice . . . to participants . . . as required by the U.S. Department of Labor. When I say “most,” I’m talking about the sponsors of plans with a December 31 year-end. (For other sponsors, file this blog and revisit it two months prior to your plan’s year-end.)

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October 5, 2018 - Are you getting all you can out of your company’s 401(k) plan?

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September 6, 2018 — It’s attainable – employers can reduce the financial stress of employees and help them reach retire-ability – to the benefit of employees and to enhance the profitability and productivity of the companies they work for.

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August 13, 2018 — We’ve been talking about the way a 401(k) plan can be a great benefit for employers. By building employees’ financial confidence and increasing their ability to retire on time, organizations reduce the workplace distractions that result when employees are financially stressed. They also decrease the future potential for the higher salary and benefits costs that occur when employees work past retirement.

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July 5, 2018—Have you started the conversation at your company to determine how to get the biggest organization benefit from your company's 401(k) plan?

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June 7, 2018—Previously, I suggested that the ability of employees to retire at a normal retirement age is a benefit of as much significance to the organization for which they work as it is to them individually. Increasingly, employers recognize that it’s in their company’s best interest to do what they can to help their employees establish a firm financial footing and build toward retirement readiness.

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May 1, 2018—A company 401(k) plan can be a great asset for an employer – with the three Rs resulting when the plan is thoughtfully designed and managed. Consulting with knowledgeable service providers, plan sponsors can construct a plan that will Recruit, Retain and Retire. The beneficiaries will be employer and employee alike.

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