"Bitcoin may be the hottest thing going in the investment world, but 401(k) plan participants aren’t likely to see it on their regular investment menus anytime soon," writes Jasmine Ye Han in Bloomberg BNA.
It's official: DWC is uniting with Hawkins Retirement, a Utah-based firm that provides comparable 401(k) plan compliance, defined benefit services, and consulting services (third-party plan administration), under the DWC brand.
One of the participants in our 401(k) plan just applied for a loan for $25,000. He has enough in his account to support the loan, but there is a bit of a wrinkle. We are planning to reorganize the department he works in, and his position is scheduled to be eliminated in about a month.
"Much has been written lamenting the near extinction of the corporate pension plan," Chris Carosa writes in a book excerpt posted to FiduciaryNews.com. "Are reports shaded by rose-colored glasses? Pension and retirement experts familiar with the history of defined benefit plans have a rather different view."
One of the owners of our company is 73 years old. She remains actively employed by the company and does not show any signs of cutting back or quitting any time soon. She has accumulated a significant account balance in the 401(k) plan and has been taking her required minimum distributions (RMDs) each year since she reached age 70 ½.
If exchange-traded fund assets are hot among individual investors, why are employers slow to add them as an option for employees?
Our 401(k) plan requires employees to work for us for six months before they become eligible to join. Pretty much all of our employees have been full time and have worked continuous, nine-to-five-type schedules.
"The 401(k) service sector has evolved considerably since its introduction in the Revenue Act of 1978," writes DWC Partner Keith Clark in 401(k) Specialist.
We have considered automatic enrollment for our 401(k) plan but have, thus far, decided not to implement it. However, for our employees that do sign up to defer, we would like to offer them a way to elect automatic deferral increases at set intervals throughout the year.
We recently processed a rollover from our 401(k) plan for a former employee who wants to roll her balance into her new employer’s plan. Shortly after the payment was processed, the former employee emailed us requesting either a copy of our plan’s IRS favorable determination letter or a signed acknowledgment that we have such a letter.