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Upcoming Compliance Deadlines for Calendar-Year Plans

Upcoming Compliance Deadlines for Calendar-Year Plans

1st December 2020 Participant Notices – Annual notices due for safe harbor elections, Qualified Default Investment Alternatives (QDIA), and Automatic Contribution Arrangements (EACA or QACA). 31st ADP/ACP Corrections – Deadline for a plan to make ADP/ACP...
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Required Year-End Participant Notices

Required Year-End Participant Notices

As the end of the year approaches, our to-do lists become longer but our bandwidth becomes condensed. To compound matters, when you sponsor a retirement plan, you know you will be in close contact with your TPA firm about the various year-end notices that must be distributed to plan participant...
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Cycle 3 Plan Document Restatements

Cycle 3 Plan Document Restatements

Approximately every six years, the IRS requires that pre-approved qualified retirement plans update (or restate) their plan document to reflect recent legislative and regulatory changes. Plan restatements are divided into staggered six-year cycles depending on the type of plan (e.g. defined benefit ...
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Cost of Living Adjustments for 2021

Cost of Living Adjustments for 2021

On October 26, 2020, the IRS announced the Cost of Living Adjustments affecting the dollar limitations for retirement plans. Contribution and benefit increases are intended to allow participant contributions and benefits to keep up with the “cost of living” from year to year. Here a...
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New Plan Tax Credits

New Plan Tax Credits

When we talk about new retirement plans, we usually focus on the savings advantages they grant to business owners or the big-picture advantages of helping employees achieve ongoing financial wellness. Tax credits granted to plan sponsors are another important, but sometimes opaque, piece of this puz...
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Electronic Delivery Could Save Billions

Electronic Delivery Could Save Billions

On May 21, 2020, the U.S. Department of Labor and the Employee Benefits Security Administration (EBSA) announced the publication of a final rule that will allow employers to communicate the required retirement plan disclosures and other plan information electronically. The rule finishes a 2018 ...
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IRS Issues Additional Pandemic Relief

IRS Issues Additional Pandemic Relief

On June 29, 2020, the IRS issued Notice 2020-52 in response to the COVID-19 pandemic providing welcome relief to plan sponsors who are considering suspending safe harbor contributions and also to those who may already have regardless of whether the employer is suffering an economic loss. The no...
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Paying Fees from Plan Assets

Paying Fees from Plan Assets

 Download The Action DocCOVID-19 is obviously causing financial stress and, when it comes to your clients’ qualified retirement plans, they may be looking for ways to reduce expenses. In this talk, we’ll detail the three options they have to use plan assets to pay some plan expenses...
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How the CARES Act Applies to Your Retirement Plan

How the CARES Act Applies to Your Retirement Plan

 IMPORTANT HIGHLIGHTSThe Coronavirus Aid, Relief and Economic Security (CARES) Act includes provisions that may apply to your retirement plan. Here are some important highlights to know first.The CARES ACT expands and relaxes rules on withdrawals, participant loans, and defers mandatory distrib...
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Understanding the CARES Act

Understanding the CARES Act

On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic, was signed into law. Besides the generalized financial relief afforded to individuals, as well as loans and other concessi...
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