ERISA Consultants Blog

A library of knowledge for a better retirement plan.

Identifying Related Employers: Part II – Control Groups

Identifying Related Employers: Part II – Control Groups

There are two major types of Related Employers: Affiliated Service Groups and Control Groups. Part I of this series discussed the general purpose of Related Employer rules, how they affect plan testing, and explained Affiliated Service Groups.   Why are the...

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New 2021 Contribution Limits

New 2021 Contribution Limits

Each year, the IRS adjusts the contribution limits for qualified retirement plans to account for cost of living increases. On October 26, 2020, the IRS published contribution limits for 2021 in Notice 2020-79.   Cost of Living Increases While several limits...

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What Does E-Delivery Mean for My 401(k) Plan?

What Does E-Delivery Mean for My 401(k) Plan?

In May, the DOL passed a new regulation that allows plan administrators to deliver retirement plan documents to participants online. This is a significant departure from previous rules surrounding plan disclosures. So what does this mean for your 401(k) plan?...

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Government Filings for Your Retirement Plan

Government Filings for Your Retirement Plan

Government filings are an important part of maintaining an employee benefits retirement plan. The DOL and IRS require the plan sponsor of 401(k) plans to file a Form 5500 annually as part of Title I of ERISA. The Form 5500 is designed to provide the Federal Government...

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The Small Business Guide to 401(k) Matching

The Small Business Guide to 401(k) Matching

Many employers are looking for ways to enhance their 40(k) plans. One of the best ways to do this is by offering a matching contribution to plan participants. A matching contribution is when an employer contributes to an employee’s retirement account based off of the...

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Electronic Delivery Updates for Retirement Plans

Electronic Delivery Updates for Retirement Plans

On May 21, 2020, the Department of Labor (DOL) announced a final rule for the electronic delivery of retirement plan documents. The new electronic delivery rules allow plan administrators to provide retirement plan disclosures to participants electronically, which...

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How to Suspend or Eliminate Your 401(k) Plan’s Match

How to Suspend or Eliminate Your 401(k) Plan’s Match

During times of economic uncertainty, like the COVID-19 situation that we're currently in, many companies look for ways to reduce expenses to help keep employees on payroll.  One of the expenses you may be considering reducing or eliminating is your company's matching...

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CARES Act Changes for COVID-19 Relief

CARES Act Changes for COVID-19 Relief

Congress passed the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act) Friday March 27, 2020. This 2 trillion dollar bill provides economic relief to Americans in the midst of the global COVID-19 pandemic. The provisions of the bill relating to retirement...

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SECURE ACT Safe Harbor Amendments and Retirement Plans

SECURE ACT Safe Harbor Amendments and Retirement Plans

How does the SECURE Act affect safe harbor retirement plans? Among the many recent changes to retirement plans, three provisions of the SECURE Act impact safe harbor plans. The provisions center around notice requirements and safe harbor 401(k) plan design to decrease...

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IRS Finalizes New Hardship Distribution Rules

IRS Finalizes New Hardship Distribution Rules

In October 2019, the IRS responded to the Tax Cuts and Jobs Act of 2017 and the Bipartisan Budget Act of 2018 through its release of the final amendments to the hardship distribution regulations.  Thanks to these newly-amended regulations, plan sponsors will now have...

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ERISA CONSULTANTS BLOG DISCLAIMER

Articles posted on the ERISA Consultants Blog are provided for general informational purposes only. The materials and content are not intended to provide tax, legal, accounting, financial, or other professional advice. Readers are advised to seek out qualified professionals that provide advice for specific client circumstances. ERISA Consultants makes no warranties about the accuracy or completeness of the information contained in the published articles. While articles are generally published with the most up to date information, ERISA Consultants does not guarantee that the articles will be updated with the most recent information or reflect the most current laws and regulations. 

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Any articles or commentary included on the ERISA Consultants blog do not constitute a tax advice and cannot be used by any taxpayer to avoid penalties that may be imposed under the Internal Revenue Code on the taxpayer.

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