Blog

A library of knowledge for a better retirement plan.

401k Plan Eligibility Best Practices

401k Plan Eligibility Best Practices

On the surface, 401k plan eligibility seems simple enough.  However, there are several rules and factors that trip many plan sponsors up in this area.  One of the most common compliance failures can be on the first day an employee becomes eligible for the plan, and...

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Millennials and Retirement

In today’s changing economic climate, younger generations are facing new obstacles in saving for retirement. In contrast to previous generations, Millennials are set to have fewer Social Security benefits, as well as less personal retirement savings from a 401(k) or...

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The Department of Labor’s Fiduciary Rule RFI

The U.S. Department of Labor recently released a Request for Information (RFI) regarding its Fiduciary Rule. According to the Department, this RFI “seeks public input that could form the basis of new exemptions or changes/revisions to the rule and PTEs.” They are...

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Revenue Procedure 93-42

Revenue Procedure 93-42 Internal Revenue Service 1993-2 C.B. 540   26 CFR 601.201: Rulings and determination letters. Rev. Proc. 93-42 SECTION 1. PURPOSE AND OVERVIEW .01 This revenue procedure provides guidelines for substantiating com­pliance with the...

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Sidecar Accounts

Sidecar Accounts

Before the retirement community shifted to a pretax 401(k) system in the 1980s, many companies offered a supplemental savings account (to be used for short-term emergencies) to complement the defined benefit (DB) plans of their employees. These supplemental savings...

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Hardship Withdrawals from 401(k) and 403(b) Plans

On February 23, 2017, the Internal Revenue Service released its Substantiation Guidelines for Safe-Harbor Distributions from Section 401(k) Plans. And on March 7, 2017 they released a similar memorandum regarding section 403(b) plans. These two statements outlined the...

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The Cadillac Tax

Health insurance has always been a hot topic of conversation both in the political and financial worlds, and it’s easy to see why, especially in recent years. Health care costs continue to skyrocket, not just for individuals, but also for employer-sponsored health...

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Nevada’s New Fiduciary Standard

As discussed in a previous article, the Department of Labor’s Fiduciary rule, which went in to effect on June 9, could have its final applicability date pushed back beyond January 1, 2018 to allow firms more time to come up with more cost-efficient, long-term...

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A Look at The New Fiduciary Rule’s First Month

The Department of Labor’s Fiduciary Rule went in to effect less than a month ago, and already new concerns surrounding it are arising. The first of these is the struggle of the SEC and DOL to come to an agreement on the technical definition of a “fiduciary.” For the...

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