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Cash Out Limit is Movin' On Up

Carter Kimball 10/17/23
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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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Are We Required to Force Former Employees to Take Their Money Out of Our Plan?

DWC 04/23/19
Facts We just received our year end testing and it mentioned that we have several terminated participants with small balances that we are required to distribute from the plan. I remember seeing something in one of our documents that mentioned distributions for account balances below $5,000, but I’m not entirely sure what that means or how I’m ...
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What is the Form 8955-SSA and What Does It Do?

DWC 04/2/19
Facts Our company has been very fortunate to have low turnover over the years. Those that have left either were not eligible for our 401(k) plan, or they had very small balances and had their accounts forced out when they terminated. We recently did have one longer-term employee leave us. She was an active participant in our plan and has a ...
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How Do We Report a Plan Merger on Form 5500?

DWC 11/7/17
Facts Our company sponsors two separate 401(k) plans, each of which covers a different group of our employees. Due to some internal changes, we now want to merge those plans so that we only have a single plan, covering all of our employees.
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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.