Forfeitures
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It’s rare that updates to the Form 5500 warrant little more than a yawn, if anyone other than those who prepare the forms even notice. That is NOT the case with changes issued by the Department of ...
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Facts We’ve been following your recent posts about how making even small changes to certain plan provisions can make managing the plan easier without sacrificing our objectives. Making life easier, ...
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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 ...
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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 ...
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Facts The annual compliance report that our TPA provided to us indicates that we over-funded matching contributions for certain employees and instructs us to transfer the excess amounts out of the ...
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Facts We allow new employees to join our 401(k) plan on the first of the month after they are hired. They become eligible to make deferrals and also receive the company safe harbor contribution at ...
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With all the responsibilities that come with being a plan sponsor, not to mention a business owner, your plan’s forfeiture account probably doesn’t make it anywhere near the top of the priority list. ...
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Facts In last week’s QOTW, you provided some tools we could use to identify which participants were affected by our decision to close one of our locations, and to calculate our actual turnover rate ...
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Any company that sponsors a retirement plan for its employees has a responsibility to operate the plan properly, to follow a prudent process in making plan-related decisions (and monitoring those ...
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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 ...
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Facts We have a 401(k) plan that includes several different types of contributions—employee deferrals, a company-provided safe harbor match, and a profit sharing contribution. The plan has a 6-year ...
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