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DWC's Thanksgiving Dinner Prep Playlist

DWC 11/24/20
DWC 401(k) Q&A Question of the Week: DWC's Thanksgiving Dinner Prep Playlist
Facts All year long we've been leaving little rock 'n' roll Easter eggs in our Cash Balance Corner feed. ICYMI: Each post title incorporates one of our favorite songs. And for our 20th century rock music fans, our  retirement plan-savvy business owner, Robert Smith's name should ring some bells. (Hint: His music has the cure for what ails you.)
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How Do Furloughed Employees Impact Our Plan at Year-End?

DWC 11/17/20
DWC 401(k) Q&A Question of the Week: Impact of Furloughed Employees on Retirement Plan at Year-End
Facts Like many businesses, we had to furlough some employees earlier this year in response to the coronavirus shutdowns. We’ve been fortunate enough to bring back a few of these employees, but a number still remain in limbo. As we approach year-end, we’ve started wondering how this might affect our 401(k) plan and potential company contributions.
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How Can We Add More Flexibility to our Standard Profit Sharing Contributions?

DWC 10/13/20
DWC 401(k) Q&A: Adding Flexibility to Profit Sharing Contributions
Facts We have made profit sharing contributions each year, and we plan to continue to do so every year that our financial situation allows. Historically, we have contributed the same percentage of pay for each person, but your previous Question of the Week about using the profit sharing feature to reward certain key performers piqued our interest.
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Can We Offer Additional Matching Contributions Without Losing our Safe Harbor Status?

DWC 08/4/20
DWC 401(k) Q&A: Can We Offer Additional Matching Contributions Without Losing our Safe Harbor Status?_Retirement Plan Design
Facts We currently sponsor a 401(k) plan for our company. While we certainly want to be able to provide meaningful benefits to the owners, our goal is to encourage all our employees to save more for their retirement, and to reward those who do. We were failing our annual testing, so we implemented a safe harbor provision to provide a matching ...
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Should We Include Government-Mandated Coronavirus PTO When Calculating Company Contributions?

DWC 04/21/20
DWC 401(k) Q&A Question of the Week: Should We Include Government-Mandated Coronavirus PTO When Calculating Company Contributions?
Facts We have several employees who have had to take time off from work either because of a loss of childcare or to care for affected family members due to the coronavirus.  As a result of recent legislation, they qualify to receive compensation during their leave from work.
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Can We Require Employees to be Employed at Year-End to Receive a Safe Harbor Contribution?

DWC 07/30/19
QOTW - 7.30.2019 - Can We Require Employees to be Employed at Year-End to Receive a Safe Harbor Contribution - Plan Design
Facts Our company sponsors a safe harbor 401(k) plan.  Each participant receives a safe harbor nonelective contribution equal to 3% of his or her annual pay.  Our TPA calculates the safe harbor contribution for us after the close of each year, and we deposit it sometime before we file our company tax return for that year.  Each year, we have a ...
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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.

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