2018 isn’t over until the data’s scrubbed!
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.
Getting Noticed . . . A Guide to Enrollment Notices for New 401(k) Participants
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.
Have You Noticed? A Guide to Year-End (and other) 401(k) Disclosures
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.)