ERISA Consultants Blog

A library of knowledge for a better retirement plan.

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...

read more
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...

read more
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...

read more
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...

read more
SECURE Act Changes for Part Time Employees

SECURE Act Changes for Part Time Employees

Some Payroll Solutions Could Cost Employers Thousands Because of the SECURE Act  Beginning on January 1st, 2021, employers who do not track how many hours their employees work every year risk incurring hundreds, if not thousands of dollars in unexpected costs. These...

read more
Revenue Provisions of SECURE Act

Revenue Provisions of SECURE Act

Penalties for IRS Forms 5500 and 8955-SSA You may be familiar with the SECURE Act, but chances are you may not be familiar with revenue provisions that affect employers, employees, and retirement funds. A lesser discussed section of the SECURE Act is the Revenue...

read more
The Danger of One Size Fits All Investment Solutions

The Danger of One Size Fits All Investment Solutions

Choosing a Retirement Investor When picking an investment advisor, many plan administrators (e.g. employers) ask about firms’ fees, available funds, and participant outreach, but they often miss another important factor: the investment selection process. Even though...

read more
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...

read more
The Department of Labor’s Fiduciary Rule RFI

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...

read more

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...

read more

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...

read more

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...

read more

The New Fiduciary Rule’s Important Take Aways

On April 7, 2017, just three days before the original set applicability date, the Department of Labor announced they will be postponing the applicability dates originally stated in the Fiduciary Rule from April 10, 2017 to June 9, 2017, and certain provisions in the...

read more

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. 

Third-party links included in any articles are not intended as, and should not be interpreted as, constituting or implying ERISA Consultants’ endorsement, sponsorship, or recommendation of third-party information, products, or services, unless expressly stated otherwise. ERISA Consultants is not affiliated with the owners or participants of any linked websites. The opinions expressed by any guest writers and/or article sources are strictly their own and do not necessarily represent those of ERISA Consultants. Please use caution when linking to other websites.

Information from the ERISA Consultants blog should be used at your own risk. Investing in securities involves risk, and there is always the potential of losing money. Past performance is not a guarantee of future results. Investment returns vary and may involve gains or losses.

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.

Ready for a Better Retirement Plan?

Find Out More Today, Risk Free

Explore the possibilities.