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)…
How to Increase Employee 401(k) or 403(b) Participation
A 401(k) or 403(b) plan is a powerful retirement savings vehicle for employees as well as an important employee benefit…
IRS-Required 401(k) Plan Restatements: Deadline is July 31, 2022
About every six years, the Internal Revenue Service (IRS) mandates businesses and organizations with qualified, pre-approved plans to restate (or…
401(k) and 403(b) Plans: The Importance & Benefits of Offering Employer Match
Beyond being a remarkably attractive employee benefit in today’s hot job market, a 401(k) or 403(b) plan can incentivize employees…
401(k) & 403(b) Plans: 8 Red Flags That Could Trigger a DOL or IRS Audit
For most Americans, any letter from the Internal Revenue Service (IRS) or Department of Labor (DOL) sparks fear, especially a…