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DWC News Update: House Passes the SECURE Act

DWC 05/24/19
Secure Act_News_5.24.2019_blog header image 2
-A breakdown of breaking news from DWC's Managing Partner, Keith Clark If you are reading the mainstream press, the SECURE Act being signed into law is just around the corner. While the overwhelming bi-partisan approval in the House of Representatives is an important (and increasingly rare) development, there are still a number of steps that must ...
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Top Heavy vs. ADP: What's the Difference?

DWC 05/7/19
QOTW - 5.7.2019 - Top Heavy vs. ADP - Whats the Difference - Plan Compliance
Facts As a plan sponsor, I do my best to review the annual compliance reports my TPA sends to me, but to be honest, it might as well be written in a foreign language. For example, several of our participants were recently required to receive corrective refunds due to contributing too much for 2018. I thought it was because our plan was top heavy ...
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How Can We Pass Nondiscrimination Testing with Low Non-HCE Participation?

DWC 01/22/19
QOTW - 1.22.2019 - How Can We Pass Nondiscrimination Testing with Low Non-HCE Participation - Plan Compliance
Facts I am fed up with sponsoring my current retirement plan. My wife and I contribute the maximum amount we can in deferrals each year. Due to low participation by our employees, we fail ADP testing every year and have to take refunds.
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What is the Deadline to Deposit our Safe Harbor Matching Contribution?

DWC 12/4/18
QOTW - 12.4.2018 - What is the Deadline to Deposit our Safe Harbor Matching Contribution - Plan Compliance
Facts Our company sponsors a safe harbor 401(k) plan that provides a matching contribution equal to 100% of the first 4% each participant defers. I had always thought that the deadline for us to deposit the match is the due date of our company tax return (with extensions), but my TPA mentioned something about a quarterly deposit requirement.
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Starting A New 401(k) Plan? Make Sure You Start On Time

DWC 02/13/18
QOTW - 2.13.2018 - Starting a New 401k Plan - Make Sure You Start On Time - Retirement Plan Design
Facts We are planning to establish a new 401(k) plan for our employees. Between getting set up with a recordkeeper, selecting the investment menu, working with our TPA to prepare the plan documents and getting the employees enrolled, there are a lot of moving parts to coordinate. We want to launch the plan as soon as possible, but we also don’t ...
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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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