Missing Participant and Uncashed Checks

As a plan sponsor of a company retirement plan, it is important to have a process for locating missing participants and notifying participants of uncashed checks. Failure to do so can result in penalties and fines from regulatory agencies, as well as potential litigation from participants. Missing participants are those who cannot be located by […]

Profit Sharing Plan and Retroactive Amendment

As a follow-up to last month’s blog on the benefits of retroactively establishing a profit-sharing plan, the Secure Act 2.0 also gives retirement plan sponsors the ability to retroactively amend their existing plans to increase plan benefits as long as the plan is amended prior to the filing of the entity tax return.   This added […]

Tax Planning and Profit Sharing Plan

If you’re a business owner looking to save for retirement while also reducing your taxable income, adding a profit-sharing component to an employer retirement plan could be an attractive option. Not only does it allow you to set aside a portion of your profits for your retirement, but a profit-sharing plan also provides tax advantages […]

The Secure Act 2.0 – Expanded

The Secure Act 2.0 - Expanded

The Secure Act 2.0 has been signed into law with the goal of promoting retirement security among Americans. The bill contains dozens of provisions that will impact various aspects of retirement plans. As a plan sponsor, it’s important to understand how the Secure Act 2.0 will impact your organization and employees. Below are several significant […]

Secure Act 2.0

The Secure Act 2.0 is poised to be signed into law with the goal of promoting retirement security among Americans. The bill contains dozens of provisions that will impact various aspects of retirement plans. As a plan sponsor, it’s helpful to understand how the Secure Act 2.0 will impact your organization and employees. Below are […]

Retirement Plan Solutions to Address the Tight Labor Market

woman with calculator and pen

Employers who face staffing challenges in the current worker-driven labor market are implementing innovative retirement plan solutions to help them recruit new candidates and retain experienced personnel. Over the past two years, organizations have lost millions of valued team members as the Great Resignation and the Great Retirement boosted turnover. Filling those positions means competing […]

Three Major Differences Between a Broker and Fiduciary Plan Sponsor

For plan sponsors, managing a 401(k) plan can be complex and time consuming. Some plan sponsors hire outside advisors to help the plan stay compliant with the various IRS and ERISA regulations. When hiring outside advisors, many plan sponsors are unaware of the added benefits of hiring an investment fiduciary as opposed to a broker […]

Tax Planning Opportunities Through Proper Retirement Plan Design

Many business owners, principals, and executives are not aware of the tremendous personal and corporate tax benefits that can be achieved through the proper retirement plan design. Most retirement plans are designed for administrative efficiency – not for tax planning purposes. As a result, most businesses are not aware of the options available for designing […]

End-of-Year Reminders for Companies with Retirement Plans

As 2021 draws to a close and everyone begins preparing for a new year, employers with qualified retirement plans should review several factors that could affect their plans before moving on to 2022. The fourth quarter presents a perfect opportunity for plan sponsors to take a snapshot of the year’s activities, review potential impact on […]

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