Be aware: IRS is starting to send letters to companies asking them to self-examine their retirement plans before selecting them for an audit. The agency’s Employee Plans department recently announced a compliance pilot program beginning in June 2022. Plan sponsors…
401(k)
Lately, senior management at businesses like yours has been feeling the need to get serious about diversity, equity and inclusion (DEI) and other socially responsible policies and practices. In a post on HRMorning.com, experts Stephanie Ashton and Monem Salam said…
IRS has released proposed regs on the Setting Every Community Up for Retirement Enhancement (SECURE) Act. If your company offers a defined contribution plan as an employee benefit, the regs contain important info for you. The regs go into detail…
Time to take a new step to ensure employees remain retirement ready, courtesy of a new federal 401(k) disclosure rule. And to help, the Department of Labor (DOL) just released new FAQs that spell out the timing of its execution,…
Employer retirement plans have been in the spotlight lately. Many employers are ahead of the game, offering workers a variety of options for saving and matching contributions. So how does your company measure up against your peers? Most are opting…
Lately, lawmakers have been focusing more on boosting participation in retirement plans. And many of their solutions involve your Payroll team. Legislators have already made several changes. More could be coming soon, according to a statement from the ERISA Industry…
It’s important for your Finance team to know all the regs when it comes to pay deductions and 401(k) plans, especially when employees are repaying loans they’ve received from the company plan. One employer wasn’t diligent with following the rules…
Unfortunately, many employees experience financial stress. So, more employers are stepping up to help by offering their workers emergency savings accounts funded by payroll deductions. As the COVID-19 pandemic continues, workers have had trouble saving money for a rainy day.…
Your company's retirement plan poses serious cybersecurity risks. So says the Government Accountability Office (GAO). It just released a new report on defined contribution plans. First, think of all the sensitive info needed for a 401(k). Then that data travels…
Do you ever wonder whether employees actually read the 401(k) fee disclosures you send them? It might not matter -- they can still sue you years down the road. That's what came out of the U.S. Supreme Court in a…
The feds passed a $1.4 trillion spending bill in the last days of 2019, and it will drastically change the way you administer your company’s retirement plan. The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) has been…
Suspect you made a misstep in your 401(k) administration? There’s now a greater chance you can correct that on your own, without ever having to get the Taxman involved. (more…)
