The end of the calendar year is fast approaching which means the plan year end for many qualified plans. It will be time for plan sponsors to collect complete employee data to enable their service providers to perform the numerous compliance tests required to retain the plans tax qualified status.

This article provides a brief description of the required defined contribution plan compliance tests as well as an overview of the census data collection process.

It’s four o’clock on Friday afternoon and there’s a knock on the door of the Human Resource Manager’s office. It’s Zachary, a fairly new employee who entered the company’s 401(k) plan last month. He’s been deferring $40 a week into the plan, which means he has accumulated $160 by now. But last night his cable TV was shut off because he couldn’t afford to pay the bill and from his 23-year-old point of view, retirement seems like a long way off.

While they don’t have a book called Retirement Plan Sponsorship for Dummies, they should. So in the interim, here is a checklist that plan sponsors should review that can help them develop good practices and avoid unnecessary liability in their stewardship of retirement plans for their employees.

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February 2014 Newsletter Boomerang Employees: Rehires and Retirement Plans February 2014 Benefit Insights® Newsletter Introduction First Things First    Leave of Absence    Inconsistent Work Schedule    Transfers Rules of the Road    Rule of Parity       Breaks in Service     One-Year Holdout Rule Putting the Rules into Play    Eligibility    Vesting Conclusion A boomerang…Read More

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