You’ve Received Fee Disclosures, Now What?
It’s Your Turn to Disclose Fees to Participants Did you suffer from sticker shock when you received the recent fee disclosures from your service providers? If so, you weren’t the only plan fiduciary to...
View ArticleHow Do Your Avoid IRS Penalties on Your IRA?
With our government requiring more cash each year, there is growing sentiment is the financial community that the IRS is becoming more vigilant in obtaining all revenue available related to Individual...
View ArticleDo You Need to Send an Annual Notice to Your 401k Participants?
As we begin the last quarter of the year, if your company sponsors a calendar year 401k plan, don’t forget about participant notice requirements. They must be furnished by December 1, 2012 and may...
View ArticleWill You Be Ready for Retirement?
You may have heard the retirement terminology “three-legged stool” used to describe the three most common sources of retirement income: Social Security, employer sponsored retirement plan and personal...
View ArticleWho is Responsible for Fidelity Bonding?
When it comes to following the ERISA requirement of fidelity bonding, the devil, as they say is in the details. The Employee Retirement Income Security Act of 1974 (ERISA) requires that fidelity...
View ArticleDo You Need to Send an Annual Notice to Your 401k Participants?
Does your 401k plan have a calendar year end? If so you have until December 1, 2012, to send notice requirements to plan participants or the operation or qualification of your plan could be impacted....
View ArticleWhat Changes Do Pension Plans Need by Year-end?
In the midst of the publicity surrounding the new ERISA fee disclosures requirements, it is important not to lose sight of the fact that other recently enacted legislation may impact your retirement...
View ArticleAre You Ready For FASB 715-80 Disclosures?
From ERISA fee disclosures to benefit limitation regulations, 2012 has been a year of regulations for retirement plans. If your company offers a retirement plan, you may feel like you’ve spent the...
View ArticleEmployee Welfare Benefit Plans Making Your Head Spin?
Every year, we receive questions regarding whether a filing requirement exists for a client’s welfare benefit plan. Clients want to ensure that their plans remain ERISA compliant without taking on the...
View ArticleWhat Does ASU 2011-04 Mean For Your Pension Audit?
How to Prepare For Changes to Your Retirement Plan While the basics of double entry accounting haven’t changed in hundreds of years, the devil, as they say, is in the details. And, when it comes to...
View ArticleHow Can Retirement Provisions in the President’s 2014 Budget Proposal Affect...
The past few weeks have been full of high visibility news stories ranging from the tragic Boston Marathon bombing to the devastating plant explosion in West, Texas. Amidst these stories and others,...
View ArticleWhy is the Timeliness of Employee Contributions Under Scrutiny?
The Department of Labor (DOL) has focused on the timely remittance of employee contributions to retirement plans for a few years. And recently, they stepped up efforts during agency-conducted audits,...
View ArticleWhat Happens if My 401(k) Plan is Out of Compliance with an IRS or DOL Rule?
With all of the rules in the business world, it sometimes can be difficult to know and understand all of the rules we need to follow – there are a lot of them. So what happens if you find yourself in...
View ArticlePart 2 | What Happens if My 401(k) Plan is Out of Compliance with an IRS or...
In the last issue of Illuminations, you read about some initial consequences you may face if you find that your 401(k) plan is out of compliance with an IRS or DOL rule. In this week’s issue, check out...
View ArticleHow Can You Ensure You’re Compliant With Disclosure Review?
Let’s face it. You like to be prepared when it comes to your finances. So do participants of your benefit plans. That need for preparation is what has driven the recent changes in regards to fee...
View ArticleWhat Are The Rules For Taking A Distribution from My 401(k) Plan?
So maybe you’ve been storing up money in your 401(k) plan for years, possibly even decades. Or maybe you’ve just started paying into your 401(k), and have a little bit of money in your account. You...
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What Are Some Changes Plan Sponsors Can Expect To See In 2014?
Every fall, just as we can expect the leaves to change colors and the weather to turn colder and a little dreary, we can also anticipate changes we will see coming in the following year with respect to...
View ArticleHow Can I Make My Benefit Plan Audit A Smoother Process?
Your time is precious and you want to use it effectively. The last thing you want to face is multiple requests from auditors that make you feel like you’re running around without purpose. It doesn’t...
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What Should Plan Sponsors Ask Their Investment Advisors?
Like many business owners, running your business every day is a top priority for you. But as a sponsor of a 401(k) plan, you have an obligation to your employees to make your plan a priority as well....
View ArticleWhy Should You Review Your Retirement Plan Documents Now?
“If it’s not broken, don’t fix it.” A lot of people adhere to this philosophy, but in some cases, a review of how something works is not only helpful, it is required. If a business’s retirement plan...
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