Resource Center - Page 3 of 14 - Noble Davis Consulting, Inc.

401(k) Loans During a Leave of Absence

April 2021

What happens when an employee with a loan takes a leave of absence? It depends on the type of leave. There are different rules for a normal leave of absence versus military leave. When it is a non-military leave, the... Read more

Welfare Plans and Plan Documents

April 2021

Welfare Plans

Do you offer any benefits to your employees on a pre-tax basis such as medical, dental, life insurance, Flexible Spending Accounts or Health Savings Accounts? Most employers offer at least one of these benefits but don’t always realize that there... Read more

The Saver’s Credit

April 2021

Participants

Many participants in your plan may be eligible for a Retirement Savings Contributions Credit, more commonly known as The Saver’s Credit, and not realize it. All participants making elective deferrals are eligible if they are adults, not claimed on another... Read more

What is the difference between a furlough, a layoff, or a termination?

March 2021

Participants

These words are often used interchangeably when their meanings are actually different. A furlough is a mandatory temporary leave of absence where the employee is expected to return to work. Furloughs may involve a reduction in hours or several weeks... Read more

Qualified Child Births and Adoptions

March 2021

Distributions

One of the less talked about provisions of the Secure Act is the allowance of in-service distributions for qualified child births and adoptions, otherwise known as a “QBAD”. In November, the IRS provided guidance for how these distributions are to... Read more

E-Signatures

March 2021

General

E-signatures are quickly becoming a part of the retirement industry. As processes become paperless, they lend themselves to the efficiency of an electronic signature. E-signatures are a safe and legal way to give consent or approval on an electronic document... Read more

Fraud Alert

March 2021

General

Identity theft is on the rise in the state of Ohio. Many Ohioans have had their identities stolen and used to file fraudulent unemployment claims. The fraud is not known till paperwork for the claim arrives at an employer or... Read more

How Hiring and Recruiting Will Change in 2021

March 2021

General, Hiring, Recruiting

After a tumultuous 2020, it is hoped 2021 may see a return to normalcy – but what is normal may look a little different, especially in the world of recruitment. The impact of the pandemic will leave its mark on... Read more

Importance of Year End Census Information

February 2021

Retirement Plans

We never want to bother you, but it is important for us to gather precise information about your employee census data and company structure. Retirement plans are required to pass complex annual compliance testing to make sure that the plan... Read more

What’s Next When a Participant Leaves Employment?

February 2021

Distributions

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