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Step Aside 3(16) – the 402(a) Fiduciary Is The New Flavor of the Week

DWC 08/24/21
In the color-by-numbers world of retirement plan fiduciaries, the 3(21) was the first one on the block, followed quickly by the 3(38). Then came the 3(16), widely sold as the silver bullet that would protect plan sponsors from the liabilities lurking around every corner. Now, the 402(a) fiduciary is ready to kick all of them to the curb…if you ...
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“Cover Me” with the Pension Benefit Guaranty Corporation

DWC 08/19/21
Welcome back to Cash Balance Corner (CBC) after a brief summer hiatus. We thought you deserved a break after all the math we threw at you in the last few entries. This is the 15th installment for CBC, which started with cash balance plan basics and progressed to the complexities of nondiscrimination testing. Our plan is to wind up CBC by the end ...
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The Mega Backdoor Roth…Here We Go Again

DWC 07/29/21
Every year, the financial press seems to write about the so-called Backdoor Roth and Mega Backdoor Roth strategies in 401(k) plans, and this year is no exception. (Maybe the Super Duper Mega Backdoor Roth will be next year.) The difference is that the articles usually start to appear closer to the Fall, but they are trending earlier this time ...
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When Is the Best Time to Set Up a Safe Harbor 401(K) Plan?

DWC 06/17/21
Facts We have been thinking about setting a safe harbor 401(k) plan and have heard that there are some pretty stringent timing requirements depending on some of the provisions we select.
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Designing Your 401(k) Plan for Combined Testing

DWC 05/6/21
Thousands of 401(k) plans are designed each year to promote savings in the most cost-effective manner. Most are established as stand-alone plans and will remain that way for their entire existence. Some, however, are initially set up as stand-alone, only to be paired with a cash balance plan down the road. Since most cash balance plans are ...
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IRS Enforcement Initiatives: It’s Not Paranoia If They’re Really After You

DWC 04/29/21
 
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2020 Retirement Plan Tax Deductions - It's Not Too Late

DWC 04/15/21
 
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Nondiscriminatory Benefit Amounts - Treat Me Right

DWC 04/8/21
Outside the complex world of qualified plans, the term “nondiscrimination” can take on many different meanings based on many different points of view. Fortunately, in the qualified plan world, the meaning of “nondiscrimination” is well defined, albeit quite complex. Here, the only point of view that matters is that of the IRS.
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Will Moving My Company Ownership Into a Trust Impact Our 401(K) Plan?

DWC 03/25/21
Facts I’ve been working with my personal attorney and financial advisor on some estate planning. and one item I’m considering is placing some of my assets, including my company ownership, in a trust. While this is all for personal estate planning purposes, I’ve been told that anything that changes company ownership could also have an impact on how ...
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Interesting Compliance Scenarios - 2021 Edition

DWC 03/18/21
 
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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.