How Should a Plan Sponsor Handle Required Minimum Distributions For Missing or Nonresponsive Participants?

DWC | 01/16/18

Facts

One of our employees retired on July 31, 2017 at age 73.  During her tenure with the company she was an active participant in the 401(k) plan, accumulating a balance while having never taken a distribution to date.  Now that she’s terminated, I understand she’s subject to required minimum distributions, with the first one due by April 1, 2018.

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DWC in Bloomberg: Pension Funds and Bitcoin Futures

DWC | 01/8/18

Regulated exchanges such as the Chicago Board Options Exchange, CME Group, and Nasdaq are either already trading or planning to trade bitcoin futures, an asset that is known to be particularly volatile and risky.

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DWC in Kiplinger: Leveraging a Backdoor Roth IRA

DWC | 12/28/17

If Roth IRAs offer a legitimate long-term savings strategy by allowing people to generate tax-free income, why do less than a third of IRA investors have such an account? The short answer is income limits; taxpayers above certain levels can't invest directly into a Roth IRA.

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Can I Keep My Retirement Plan After I Sell My Business?

DWC | 12/12/17

Facts

I recently sold my business, and all of my employees went to work for the buyer. My goal is to continue working for a period of time, but I do not expect to hire any more employees.

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DWC in BenefitsPRO: Tax Bill Might Affect 401(k) Offerings

DWC | 12/6/17

The reconciliation of the tax reform bills working their way through Congress is prompting retirement industry experts to speak up. Many are expressing concern that the unintended consequence of the some of the proposed changes would create a disincentive for some business to offer or maintain 401(k) plans for their employees.

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How Do I Set Up an Individual 401(k) Plan?

DWC | 12/5/17

Facts

I am self-employed, and my business is doing well. As a result, I would like to setup a retirement plan so that I can not only set aside some income for retirement but also to help with my current income tax planning. I don’t have any employees.

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Is Your 401(k) Required to Have a QDIA?

DWC | 11/28/17

Facts

Like many 401(k) plans, ours allows employees to decide where to invest their accounts among a menu of approximately 20 different mutual funds. For employees who do not make an investment decision, their contributions are invested in a default fund recommended by our investment advisor.

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Do 401(k) Testing Requirement Apply to Owner-Only Plans?

DWC | 11/14/17

Facts

I and my three business partners each own 25% of our company. We do not have any employees other than the four of us. We would like to set up a retirement plan, but we know there are nondiscrimination tests that limit how much owners can benefit based on how much the employees receive.

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How Do We Report a Plan Merger on Form 5500?

DWC | 11/7/17

Facts

Our company sponsors two separate 401(k) plans, each of which covers a different group of our employees. Due to some internal changes, we now want to merge those plans so that we only have a single plan, covering all of our employees.

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DWC Continues Expansion, Adds Jennifer Gibbs Swets as Partner

DWC | 11/2/17
ST PAUL, Minn. – October 31, 2017 – DWC – The 401(k) Experts, an industry leader in providing 401(k) plan compliance and defined benefit and consulting services, has expanded its team by adding Jennifer Gibbs Swets, ERPA, QPA, QKA, as its newest partner.

DWC, which has grown rapidly in recent months, serves more than 3,000 clients across the country, ranging in size from single-participant defined benefit plans to complex 401(k) plans, including several thousand employees. Swets's announcement follows that of Lori Reay, who joined DWC as a partner in September 2017.

"Jen's passion for the industry and dedication to client service fits seamlessly with our firm. Her work ideology—treating each case with attentiveness to individual client needs—aligns seamlessly with the DWC company philosophy," said Keith Clark, co-founder and managing partner of DWC.

Swets, a former senior manager of retirement plan services at Dixon Hughes Goodman LLP, brings over 15 years of retirement services experience. Swets specializes in creative and innovative plan design, adding a valuable skill set to the DWC team.

"The retirement plan industry is ever-changing, and it's crucial to find a company that proactively adapts to those changes, while also serving its clients accordingly," Swets said. "DWC has consistently and successfully responded to industry changes in the best way that serves its clients."

Based in Hampton Roads, Virginia, Swets will work with clients and financial advisors on a local and national level to help design and maintain retirement plans. She joins existing partners Keith Clark, Doug Hoefer, Adam Pozek, and Lori Reay.


For media inquiries, contact Kaitlyn Smith of Flackable at 610-698-6014 or kaitlyn@flackable.com.
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.