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Student Loan Considerations for Plan Sponsors-Part Two

Wednesday, October  17,  2018

As a follow up to our first article on student loan debt, its impact on employers and the recent IRS Private Letter Ruling (PLR) regarding student loan repayments, we’ve attached a summary of items to consider when contemplating this type of arrangement.  As this ruling has just been released, we can expect additional items in … Continue reading

IRS Allows 401K Match for Student Loan Repayments

Monday, October  15,  2018

The IRS recently issued a Private Letter Ruling (PLR) for an employer interested in offering a student loan repayment benefit through their 401(k) plan.  While the ruling only applies to the plan and plan sponsor who requested it, the ruling will most likely expand interest in this type of program, resulting in legislative action in … Continue reading

Are Your Retirement Plan Committee Members Aware of Their Fiduciary Obligations?

Friday, October  5,  2018

Do your retirement plan committee members have a thorough understanding of their fiduciary obligations? In a recent court case involving the retirement plans offered at New York University, the court found that certain committee members were not fully aware of their obligations as Fiduciaries.  At Innovative Benefit Planning, we assist our clients with the establishment … Continue reading

Fiduciary Rule Update

Thursday, November  9,  2017

As you may remember, major components of the Department of Labor (DOL) fiduciary rule have been applicable to retirement advice since June 9, 2017. However, on November 2, 2017, the DOL sent a final rule that would extend the transition period of its fiduciary rule by 18 months to the Office of Management and Budget … Continue reading

IRS Releases Maximum Contribution, Deferral and Compensation Limits for HSA, FSA, and 401(k) for 2018

Wednesday, October  25,  2017

The IRS has released the maximum contribution limits for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) for 2018.  The IRS also released the maximum deferral and compensation limits for 401(k) accounts. Health Savings Accounts Single Coverage Maximum Contribution Limit: $3,450 ($50 increase from 2017) Family Coverage Maximum Contribution Limit: $6,900 ($150 increase from … Continue reading

Post-Equifax Cyber Breach: Retirement Plan Sponsor Considerations

Wednesday, September  20,  2017

Plan sponsors have a fiduciary obligation to safeguard and preserve the assets of their employee benefit plans. As the number of cyber hacks continues to increase, plan fiduciaries must take certain steps to protect plan assets. Measures include evaluating security measures currently implemented by your organization, understanding the plan’s service providers’ security procedures, reviewing plan … Continue reading

DOL Fiduciary Rule Delay Approved by Office of Management and Budget

Thursday, August  31,  2017

As you may be aware, the Department of Labor requested to push back the final implementation date of the fiduciary rule, originally scheduled for January, to July 2019. The 18-month delay was approved by the Office of Management and Budget (OMB) of the White House this week. While the delay is not yet official, the … Continue reading

DOL Releases Additional Guidance Regarding the Fiduciary Rule

Friday, May  26,  2017

As part of our commitment to ensuring that our clients are kept up to date on the changes to applicable laws, the Department of Labor (DOL) has released additional guidance regarding the Fiduciary Rule. In our recent blog post, we discussed the applicability date of the Fiduciary Rule being delayed from April 10th to June … Continue reading

The CHOICE Act and its Impact on the Fiduciary Rule & Dodd-Frank

Tuesday, May  9,  2017

Late last week, the House Financial Services Committee approved the CHOICE Act for consideration by the full House of Representatives. The CHOICE Act is likely the first step towards Congressional repeal of the Department of Labor’s fiduciary rule. In addition to undoing or potentially replacing the Dodd-Frank Wall Street reform regulations adopted after the 2008 … Continue reading

DOL Delays Applicability Date of the Fiduciary Rule

Thursday, April  6,  2017

As you are likely aware, the Department of Labor proposed a delay to the Fiduciary Rule on March 1, 2017 in response to President Trump’s Executive Order. On April 4, 2017, the DOL made their final rule public and have delayed the applicability date to June 9, 2017. It will be published in the Federal … Continue reading


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