I remember when I was 10, there was no such thing as a debit card. In fact, growing up in the ‘80s meant no internet, no PayPal, no direct deposit or any type of remote banking. While they make things extremely efficient and easy for us, these techno...
December
26
2019
Five Best Practices to Protect Your Retirement Nest Egg from Cybertheft
Posted by Joné E. Liuzza, ERPA, QPA, QKA
in 401(k), Retirement, Wealth Management, Financial Planning
with No Comments
November
08
2019
Retirees receiving Social Security will see a small benefit increase in 2020. Savers in qualified retirement plans (but not IRAs) will have the ability to put a bit more money away in 2020.
September
11
2019
Three Things You Should Be Doing as a Plan Sponsor
Posted by Joné E. Liuzza, ERPA, QPA, QKA
in 401(k), Retirement, Third Party Administration, TPA, fiduciary obligation
with No Comments
If you sponsor a 401(k) plan, you are likely working with great partners. You probably work with an advisor who maintains the investment lineup. You are also probably working with a Third Party Administrator (TPA) who handles the daily administration...
August
21
2019
How to Fix a Participant Loan
Posted by David J. Kupstas, FSA, EA, MSPA
in 401(k), participant loan, epcrs, irs, vcp
with No Comments
Recently, we shared the basic rules related to participant loans in qualified retirement plans. From time to time, there will be loans that are not in compliance with one or more of these rules. What happens then? Is there a fix? Today, we will g...
July
10
2019
Many 401(k) and profit sharing plans are set up to be cross-tested plans. (Most of those that aren't probably should be.) There are times, however, when using cross-testing is not the best way to satisfy the nondiscrimination rules. Sometimes, you mi...
June
19
2019
Participant loans are a popular feature of 401(k)s and other qualified retirement plans. It is safe to say that if employees didn’t have the ability to borrow from their retirement account when times were tough, some number of these employees simply ...
June
12
2019
Hello summer. I have teenage girls so summer arrives with an energy in my house that is filled with sleepovers, karaoke, ice cream and late night laughter. Summer is a season where people slow down a bit to catch their breath. In a world so busy with...
May
08
2019
What to Know about Your 401(k) Plan
Posted by Joné E. Liuzza, ERPA, QPA, QKA
in 401(k), Retirement, defined contribution
with No Comments
We all know the saying Knowledge is Power. This quote hits the mark when it comes to retirement plans – for both the participant and plan sponsor. Being equally important, I will discuss what you should know about your plan from both perspectives. Pl...
April
17
2019
IRS Reverses Position on Retiree Lump Sum Windows
Posted by David J. Kupstas, FSA, EA, MSPA
in 401(k), Retirement, defined contribution
with No Comments
In a somewhat surprising reversal of guidance issued four years ago, the IRS announced recently that it is okay to offer retirees and beneficiaries who are currently receiving annuity payments under a defined benefit plan a temporary option to elect ...
April
10
2019
As most of us have either recently filed our 2018 federal income taxes, or are in the frantic last-minute scramble to do so, now is a good time to consider your retirement investment options. Recently, a growing number of employers offer a Roth 401(k...