What Is a True-Up Matching Contribution?

DWC | 09/18/18

Facts

Our 401(k) plan provides for a matching contribution of 50% of the first 6% deferred by each participant (for a maximum match of 3% of pay per year).  We deposit the matching contributions to the plan each pay period at the same time we deposit employee deferrals.  After year-end for the last couple of years, our TPA has informed us that we have to make “true-up” matching contributions, sometimes for employees who are no longer with us.

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Q3 Pension Pontifications

DWC | 09/13/18

All of us here at DWC thrive on the really geeky stuff, and some of the best discussions start with Adam and Keith’s pontifications about how different topics impact our clients and our industry.  We decided to bring the best of those conversations to you, still with a touch of geekiness but also distilled into easily digested, bite-sized pieces. Anyone can summarize a summary and call it commentary or analysis. But as always, our commentary is based on reading the actual rules, regulations, executive orders, and advisory opinions.  - As originally published in our Q3 401(k) Q&A Update newsletter

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Decoding the Alphabet Soup: What's With All the Acronyms? | Part 3

DWC | 09/11/18

Facts

People in the retirement plan business sure do like their acronyms.  All these letters get thrown around, and I do not know what half of them mean.

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No Beneficiary Form: Now What?

DWC | 08/28/18

Facts

A participant in our 401(k) plan recently passed away.  His daughter is the executor of his estate and has asked about the process for getting his plan account paid out.  We’ve gone through all our files and cannot locate a beneficiary designation form for the deceased participant.

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DWC's Tianna Schulz Relocates to New Orleans, Expands Company Presence

DWC | 08/23/18

NEW ORLEANS - Aug. 20, 2018 -  DWC - The 401(k) Experts, an industry leader in providing 401(k) plan compliance, defined benefit services, consulting services and third-party plan administration, today announces the relocation of Retirement Plan Consultant Tianna Schulz to New Orleans.

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Breaking News: The IRS PLR on Student Loan Benefits in 401(k) Plans is Much Ado About Not Much

DWC | 08/21/18

We interrupt your regularly scheduled programming to highlight the IRS’ not-so-ground-breaking entrance into the world of student loan benefits in 401(k) plans.

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How Are Corrective Refunds Determined for a Failed ADP Test?

DWC | 08/21/18

Facts

Our 401(k) plan failed the ADP test for the first time this year.  We decided to correct the failure by making refunds to the highly compensated employees instead of making additional contributions for the other participants.  However, when we got the actual refund amounts from our TPA, we were surprised to see that those HCEs with the highest deferral percentages are to receive smaller refund amounts.

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Retirement Planning & Regulatory Trends You Should Be Watching

DWC | 08/16/18

Feeling out of the loop on industry happenings this summer? DWC stays on top of what's trending, and our self-proclaimed pension geeks often offer their insights in industry publications. Get caught up with this month's round-up: 

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Decoding the Alphabet Soup: What's With All the Acronyms? | Part 2

DWC | 08/14/18

Facts

People in the retirement plan business sure do like their acronyms.  All these letters get thrown around, and I do not know what half of them mean.

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What Do We Do With Mutual Fund Settlement Proceeds?

DWC | 08/7/18

Facts

Our company sponsors a 401(k) plan, and we moved to a new recordkeeper about two years ago.  Last week we received a letter and a check from our previous recordkeeper indicating that the check represented our portion of the proceeds from a legal settlement involving one of the mutual funds that used to be part of our plan investment menu.

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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.