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Cash Out Limit is Movin' On Up

Carter Kimball 10/17/23
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Finding Balance with Form 5500

Adam C. Pozek 02/24/23
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 Labor today. In nearly 250 pages of new regulations, revised instructions and sample forms, the DOL announced some changes for the 2023 plan year that ...
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MEP, PEP, or Stand Alone Plan, Which Is the Best Fit for Your Company?

DWC 02/18/21
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Adding an Employee to Your Cash Balance Plan? You Should be Thinking This Article is "Just What I Needed"

DWC 12/3/20
Sponsoring a retirement plan can provide significant benefits to a company (and its participants). But with great benefits comes great responsibility…responsibility to follow all of the various regulatory requirements. Since these plans provide hundreds of billions of dollars in tax deductions each year, Congress and the various agencies want to ...
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Cash Balance Compliance: "Takin' Care of Business"

DWC 11/5/20
Wow! We have covered a lot of ground over the last few entries, learning about how cash balance benefits are earned and funded. So far, our plan sponsor Robert Smith, Inc. has dealt with the complexities of an owner-only plan. Now, it’s time to take a step back to take a look at some of the more mundane-sounding but still very important ...
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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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Who Signs Our Form 5500?

DWC 06/2/20
Facts The person in our office who handles many of our administrative functions, including those related to our 401(k) plan, will be retiring soon, so we’re reviewing many of our internal processes in anticipation of training someone new to take on those functions. We know that our Form 5500 must be filed by the end of July, so that particular ...
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What Retirement Plan Filings and Records Must We Keep?

DWC 05/5/20
Facts We’ve sponsored a 401(k) plan since 2002 and the amount of paperwork and related records we’ve accumulated is incredible. Cleaning up these records has always been on my to-do list for a while, but it’s not the most exciting task. As much as I would like to I know I can’t just throw it all away, but it seems like the mountains of old filings ...
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Is It Possible to Avoid an Audit for the First (Short) Year of Our Plan?

DWC 10/1/19
Facts Our company has about 200 employees, and we launched a new 401(k) plan on October of last year. We were eager for all of our existing employees to get excited about this new benefit, so we waived the waiting period to join so that everyone would be eligible on day one. The good news is that it worked, and we had a lot of our employees sign ...
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Meet the MEPs: Grab Bag

DWC 09/11/19
The Department of Labor’s new regulations that expand the availability of multiple employer plans cover quite a bit of ground. In previous posts, we’ve explored Association MEPs, PEO MEPs, Corporate MEPs, and working owners. Though not technically part of the regulations themselves, the Department of Labor also addresses a grab bag of questions ...
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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.