Resource Center - Page 2 of 12 - Noble Davis Consulting, Inc.

What’s Next When a Participant Leaves Employment?

February 2021

When an employee leaves your company, their status as a participant in the company’s retirement plan is often an afterthought. However, you have a fiduciary obligation to distribute the participant and beneficiary vested balances accrued under the plan, so they... Read more

Loan Defaults

February 2021

Loans

Although offering loans in your 401(k) plan is not required, many plans offer this feature. Such a feature allows a plan participant to withdraw pre-tax money from their plan account without incurring taxes on the withdrawal. Generally, 401(k) loans are... Read more

The Best Ways to Spend Your Tax Refund

February 2021

Coronavirus, General, Payroll, Retirement Plans, Tax Refund, Taxes

Tax season is well and truly underway in America. While it is no fun preparing a return for the IRS, many of us rather enjoy getting a check back from Uncle Sam. And with the average refund being nearly $3,000,... Read more

Should I be withholding 401(k) deferrals if my employee leaves?

January 2021

Compensation, Retirement Plans

Determining what counts as compensation for your plan can sometimes be confusing, especially when you are paying amounts to participants who have left employment. When someone leaves employment, you may or may not be able to use their final compensation... Read more

Retirement Plan Compliance Problems Can Be Corrected

January 2021

Retirement Plans

A retirement plan is a great employee benefit. The flipside is that most types of plans are subject to numerous government regulations. So many, in fact, that it’s easy to see how an employer might fail to dot every “i”... Read more

Why Go Paperless?

January 2021

Participant Website

In this day and age there are many reasons why electronic delivery is the superior method for communicating with plan participants. Here are some of them: Direct Cost Savings The incremental cost of printing and mailing participant communications can be... Read more

arms writing on tax documents and using calculator in front of computer

Important Tax Reminders in the Year Ahead for Employers

January 2021

Compensation, Contributions, General, Taxes

With January well underway, the Christmas decorations have been stored for another year and we turn our attention to the next festive matter – tax season. As an employer, there are many responsibilities to help you and your employees have... Read more

Happy New Year from Noble-Davis Consulting!

January 2021

General

At the end of this uniquely challenging year, we wanted to take a moment to show the appreciation we have for the relationship we have with you. We hope that the coming year will be a good one, bringing you... Read more

Resumption of Loan Payments

December 2020

Loans

2020 has been a hard year for many of us. To provide a little relief, one of the provisions of the CARES Act passed by Congress this year gave plans the option to allow participants to defer starting payments on... Read more

How Does Your 401(k) Compare to the Average?

December 2020

Retirement Plans

More than 97 million Americans have access to a 401(k) plan and more than $5.3 trillion is invested in those plans. You may have wondered how your plan stacks up to the competition. Let’s take a look. Average Employee Contribution:... Read more