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Revisiting the Overhauled Form 5500 Rule: How the New Audit Requirements Simplify 401(k) and 403(b) Plans
Key TakeawaysThe updated Form 5500 rule now counts only participants with account balances at the beginning of the plan year…
Tips for Plan Sponsors: Spring Clean Your 401(k) or 403(b)
Spring is in full swing, and while you're busy dusting off shelves and decluttering closets, don't forget about giving your…
Ensuring Alignment: Bridging the Gap Between SPDs and Employee Handbooks in Retirement Plans
Key TakeawaysDiscrepancies between the SPD and the employee handbook often stem from updates, different departmental management, and lack of regular…
Uncovering Hidden Opportunities: The 401(k) Startup Tax Credit for Small Businesses
Key TakeawaysSurvey reveals significant lack of awareness among small business owners regarding 401(k) startup tax credit and other incentives for…
SECURE Act 2.0: Catch-Up Contributions for High-Earning Employees
UPDATE: On August 25, 2023, the Internal Revenue Service (IRS) released guidance that addressed Section 603 of the SECURE 2.0…
Dealing with Former Employees with Accounts Under 401(k) or 403(b) Plans
Key TakeawaysEmployers must provide certain notices and disclosures to not only existing participants, but also to terminated participants with account…
Owner-Only Solo 401(k)s: Plan Sponsor Responsibilities & Benefits
Key TakeawaysOwner-only Solo 401(k)s is a great way for business owners to pay less taxes, including being able to tuck…
SECURE Act 2.0 Becomes Law: Highlights of the Changes Affecting Retirement Plans
On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act into law which also contained the SECURE 2.0 Act…
Year-End Reminders for 401(k) and 403(b) Plans
The end of the year means upcoming due dates for many calendar-year qualified plans such as 401(k)s and 403(b)s. And…
Sept. 9: Happy National 401(k) & 403(b) Day!
Started in 1996 by the Plan Sponsor Council of America (PSCA), Friday following Labor Day was chosen as the “401(k)…