February 2013 Newsletter Benefit Insights® February 2013 Newsletter Don’t let Missing Participants and Small Balances become a Big Problem In this issue: Introduction Forcing Distribution of Small Balances What if the Participant’s Account Balance includes Rollovers? Check the Plan Document What about Large Balances? What if the Plan is Terminated? What about Residual Balances? What…Read More

December 2012 Newsletter Benefit Insights® December 2012 Newsletter The IRS Meets Letterman In this issue: Introduction 1. Failure to timely adopt amendments required by tax law changes 2. Failure to follow the plan’s definition of compensation when determining benefits 3. Failure to include eligible employees or exclude ineligible employees 4. Failure to follow the rules…Read More

October 2012 Newsletter Benefit Insights® October 2012 Newsletter How to Survive a Visit from the IRS or DOL In this issue: Introduction What Are They Looking for, Anyway? Department of Labor Internal Revenue Service Why Me? What Should You Do When You Receive an Audit Notice? What Should You Do on the Big Day? Be…Read More

August 2012 Newsletter Benefit Insights® August 2012 Newsletter Top Heavy Impact on 401(k) Plans In this issue: Introduction What is a Top Heavy Plan? How is Top Heavy Calculated? Consequences of Being Top Heavy Impact on 401(k) Plans How to Avoid Top Heavy Contributions in a 401(k) Plan The Safe Harbor Alternative SIMPLE 401(k) Plan…Read More

June 2012 Newsletter Benefit Insights® June 2012 Newsletter Fiduciary Fact or Fiction In this issue: Introduction Fidelity Bond Qualified Default Investment Alternatives (QDIAs) Co-Fiduciaries Participant Investment Direction and 404(c) Compliance Service Providers Fees Summary The rules that govern the behavior of retirement plan fiduciaries are quite complex. Any time we are required to deal with…Read More

February 2012 Newsletter Benefit Insights® February 2012 Newsletter At Your Service In this issue: Introduction Methods of Counting Service Elapsed Time Method Actual Hours Method Equivalency Method Reasons for Counting Service Initial Plan Eligibility Vesting Other Reasons to Count Service Conclusion One of the most fundamental requirements in managing a qualified retirement plan is counting…Read More

December 2011 Newsletter Benefit Insights® December 2011 Newsletter Increasing 401(k) Plan Participation In this issue: Introduction Advantages of Increased Participation Methods of Increasing Participation Relaxed Eligibility Requirements Automatic Enrollment Matching Contributions Regular Employee Communications Enhanced Withdrawal Opportunities Frequent Election Periods Adequate Investment Options Conclusion IRS and Social Security Annual Limits Cash or deferred retirement plans,…Read More

October 2011 Newsletter Benefit Insights® October 2011 Newsletter Participant Fee Disclosure Requirements for Individual Account Plans In this issue: Introduction Plans Subject to the Disclosure Requirements Compliance Dates Who Must Provide the Disclosures? Designated Investment Alternatives Plan-Related Information Investment-Related Information Variable Rate of Return Investments Fixed or Stated Rate of Return Investments Website and Glossary…Read More

August 2011 Newsletter Benefit Insights® August 2011 Newsletter Should They Stay or Should They Go: Dealing with Terminated Participants In this issue: Introduction Why do we Care? Count the Cost Stand and be Counted Tell the Participants Tell the IRS What are the Options? Small Balances Larger Balances Fees Residual Distributions What about Plan Terminations?…Read More

June 2011 Newsletter Benefit Insights® June 2011 Newsletter Fiduciary Liability for Participant-Directed Plans In this issue: Introduction 404(c) Basic Requirements Automatic Disclosures Disclosure on Request I complied with 404(c), and all I got was this lousy T-shirt Compliance Challenges An Optional Safe Harbor Worth the Effort? It seems that every month there are new stories…Read More