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Is There an "Easy Button" for Setting Up a New Retirement Plan?

DWC 09/1/20
Facts As a small business owner, I’m constantly looking for cost-effective ways to improve the benefits I offer my employees. My industry is a competitive one, and it’s important to me to have a package that helps attract top talent and retain current employees too. Recently, my attention has turned toward implementing a retirement plan, but it ...
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Which Common Plan Fees Can (and Should) We Pay from Plan Assets?

DWC 08/18/20
Facts We are reviewing our company expense budget to identify any that we can eliminate or reduce. We’ve read that it is possible to pay expenses related to maintaining company retirement plans out of plan assets. We sponsor both a 401(k) plan and cash balance plan for our employees, so shifting some of those fees from the company to the plan ...
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Can We Pay Plan-Related Expenses Out of Plan Assets?

DWC 04/28/20
Facts Like many businesses, we’ve been watching our cash flow carefully over the past several weeks. We’re making adjustments where necessary so that we can stay on top of the invoices we receive from our service providers. Among those invoices are a few related to expenses for our 401(k) plan. I think I’ve heard that I can pay those invoices ...
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What New Tax Credits are Available for Adding an Automatic Enrollment Feature to our Plan?

DWC 02/4/20
Facts Our business currently has a retirement plan and we are considering adding automatic enrollment. We have heard that there are new tax credits available to employers who include automatic enrollment features in their plans.
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What Tax Credits are Available for Setting Up a New Retirement Plan?

DWC 01/14/20
Facts Our business is thinking of setting up a retirement plan. We’ve heard that there are new tax credits offered under the SECURE Act available to employers who set up new plans.
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The Importance of Due Diligence in Choosing a TPA

DWC 04/19/18
Choosing a third-party administrator to manage your company's document design, compliance or government reporting services should be based on careful due diligence, rather than on the price of fees, DWC Managing Partner Keith Clark wrote in an article on choosing a TPA published on the Benefit News website. "If I am hiring an attorney or any ...
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Which 401(k) Plan Fees Can Be Paid Out of Plan Assets?

DWC 03/20/18
Facts When we first established our 401(k) plan, the company didn’t have a lot of discretionary income, so we went with a low-cost provider and set it up so the plan would pay for its own fees. We have since been told that paying fees out of the plan isn’t that straightforward.
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Can We Split QDRO Fees Between Participant and Ex-Spouse?

DWC 08/8/17
Facts We have a participant who is going through a divorce and told us that he will be submitting a Qualified Domestic Relations Order to assign a portion of his 401(k) account to his ex-spouse. It is our normal practice (which has been communicated to our participants) to charge the participant’s account for the fees associated with reviewing and ...
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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.