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IRS Compliance Initiatives

The IRS has recently updated its Compliance Program and Priorities for retirement plans. They have identified several areas that will be focused on in 2021 by their agents. These include: General Compliance – There will be a focus on determining... Read more
Red And Blue Directional Arrows Showing Traditional And Roth Ira Options On Wooden Blocks

Is a Roth conversion right for you?

A Roth conversion refers to taking all or part of the account balance of any existing pre-tax retirement account and moving it to a Roth account within the same plan. Plans do not need to offer Roth accounts or allow... Read more

Should your plan offer Roth Contributions?

There are two basic types of employee contributions in a 401(k) retirement plan, traditional pre-tax, and Roth. Although it is a popular feature, not all plans offer the option of Roth contributions. Traditional pre-tax contributions are paid to the plan... Read more

Matching Formulas

Employer matches in 401(k) plans provide an incentive for companies wanting to attract and retain good employees. There are many different variations in matching formulas. Some companies may match dollar for dollar, while others match at a smaller percentage. In... Read more
huge stack of papers

How does your 401(k) plan stack up?

Automatic enrollment helps participants save for retirement. In 2020, plans with automatic enrollment saw a 92% participation rate where plans with voluntary enrollment saw 62% participation rate. At the end of 2019, 94% of plans offered target date funds which... Read more
New Rules

Summary of Recent Tax Law Changes

A lot of new legislation has been passed in the last few years. Here is a summary of those changes. The SECURE (Setting Every Community Up for Retirement Enhancement) Act was passed in December 2019. It includes many new provisions... Read more
Children playing hide and seek

Missing Participants

The Employee Benefits Security Administration (EBSA) has recently undertaken a nationwide compliance initiative to help retirement plans focus on best practices, maintain complete and accurate census information, communicate with participants and beneficiaries about their eligibility for retirement benefits, and implement... Read more
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