Employee Benefits Update
Showing 129–144 of 395 results
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The uncertain future of Form 5500 – Will compliance burden increase?
April / May 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 743
Abstract: January 1, 2019, might seem like a long way off, but to critics of the Department of Labor’s proposed overhaul of Form 5500, it’s right around the corner. That’s because proposals will require setting up systems to collect and report detailed data. This article reviews the proposal’s rationale, as well as industry concerns.
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Understanding IRS determination letter program changes – How changes affect individually designed retirement plans
April / May 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 769
Abstract: Since the beginning of the year, sponsors of individually designed retirement plans generally have no longer been able to receive a periodic official regulatory compliance seal of approval from the IRS in the form of a routine determination letter. While this has been a source of concern to many plan sponsors and their advocates, options remain. This article summarizes the reasons for the change, the option of a mass-submitter plan and possible problems brought on by the change. A sidebar reviews some of the industry concerns about the change.
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COMPLIANCE ALERT
February / March 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 168
Abstract: This feature lists a few key tax reporting deadlines for February through April.
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2016 vs. 2017 retirement plan limits
February / March 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 96
Abstract: This chart contains updated retirement plan limits for 2017.
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Hardship withdrawal programs require strict administration
February / March 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 810
Abstract: While not required, most 401(k) plans offer a hardship withdrawal option. The IRS recently updated its guidance on how plan sponsors can remedy errors in the administration of hardship withdrawals. This article highlights the basics of hardship withdrawals and how to correct mistakes when administering a hardship withdrawal program.
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Who’s to blame? Court equitably apportions fiduciary misdeeds
February / March 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 490
Abstract: When a fiduciary breach occurs, some fiduciaries may be more culpable than others. And when that’s the case, the court can order those parties to indemnify other fiduciaries who were, despite their technical status as fiduciaries, without blame. This article summarizes a recent case of the U.S. Court of Appeals for the Seventh Circuit where the court equitably apportioned relief in a fiduciary duty setting.
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Get your fiduciary house in order – DOL’s newest regulations require plan sponsor action
February / March 2017
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 874
Abstract: The majority of the U.S. Department of Labor’s complex regulations mandating fiduciary status for individuals dealing with retirement investment decision-making involve investment advisors. But the regulations, which are scheduled to take effect on April 10, 2017, also require plan sponsors to take certain steps. Remember, plan sponsors are always the fiduciary, and the regulations expand the definition of fiduciary status. A sidebar discusses the distinction between investment education and investment recommendations or advice.
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COMPLIANCE ALERT
Year End 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 160
Abstract: This feature lists a few key tax reporting deadlines for December and January.
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IRS permits high-earner Roth IRA rollover opportunity
Year End 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 358
Abstract: As highly compensated employee (HCE) 401(k) plan participants approach retirement, a potentially useful tax-efficient IRA rollover technique may be a valuable savings tool. This brief article reviews IRS rules about how HCEs can allocate both pretax and after-tax employee contribution 401(k) assets between standard and Roth IRAs.
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Where’s Waldo? Locating missing plan participants
Year End 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 828
Abstract: It’s not uncommon for previously active employed plan participants to fall off the radar screen. They include retirees and former employees that move away without informing the plan administrator. Before anyone realizes it, they become “lost” participants. This article sets out the steps to take when dealing with these participants.
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Too many investment options may increase litigation risk
Year End 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Giving plan participants a wide range of investment options is a good thing — but only to a point. That’s one of multiple allegations in recent class action lawsuits filed against several prominent universities. This article reviews recent litigation, and offers a cautionary note for plan sponsors who offer a high number of investment options.
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Using eligibility rules to control plan enrollment
Year End 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 902
Abstract: Plan sponsors have more flexibility than they may realize when it comes to setting eligibility rules for 401(k) plan participants. Even though ERISA sets many rules for eligibility, plan sponsors have leeway to meet the demands of the employment market. This article offers some thoughts for plan sponsors to consider when determining plan enrollment.
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COMPLIANCE ALERT
October / November 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 96
Abstract: This feature lists a few key tax reporting deadlines for October and November.
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Hybrid pension plan interest credit rule amendment deadline nears
October / November 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 306
Abstract: The deadline for hybrid pension sponsors to adopt plan amendments bringing them into compliance with key provisions of final IRS hybrid plan regulations is fast approaching: January 1, 2017 (2019 for collectively bargained plans). This article reviews the deadline for transitional amendments to satisfy the regulations’ market rate-of-return rule.
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Fair Labor Standards Act update – New employee exempt status threshold rules affect retirement plans
October / November 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 550
Abstract: Changes to the Fair Labor Standards Act (FLSA) that take effect December 1 could have implications for retirement plans. The changes affect what forms of compensation businesses use to calculate employer contributions to their qualified retirement plans and determine highly compensated employee (HCE) status. This article reviews the new exemption rules and how they affect retirement plans.
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IRS places high priority on retirement plan internal controls
October / November 2016
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 725
Abstract: When IRS examiners check under the hood of many retirement plans, they often find a lack of sufficient internal controls. The consequences can be severe — even if an IRS audit doesn’t turn up any other problems. The worst-case scenario? Theft of plan assets that is financially damaging to participants and your company, and can also lead to plan disqualification. This article highlights the importance of internal controls for both retirement plan sponsors and their service providers.