ACG Blog

The IRS has introduced new compliance questions on the Form 5500 information returns filed annually for 401(k) and other qualified retirement plans. While these questions are optional for the 2015 Form 5500, plan sponsors and service providers should...

In the qualified retirement plan world, there are limits on how much money may be contributed to a plan by an individual or a company. There is also a cap on the wages that may be taken into account for an employee in determining contributions and be...

We talk a lot about Highly Compensated Employees (HCEs) in our business. What is a “Highly Compensated Employee?” Does it just mean someone we think makes a lot of money? No. There is a specific definition.

If you are considering setting up a 401(k) plan for 2015, you may not have as much time as you think. October 1st is the deadline for implementing a safe harbor 401(k) plan this year. Safe harbor design – whether a match or nonelective contribution –...

When someone comes up with a good idea that works, it should be kept around. Last year around this time, we told you about a wonderful pilot program the IRS rolled out providing relief to late filers of Form 5500-EZ. We are pleased to report that the...

As an update to our recent coverage of 401(k) plan lawsuits, the Supreme Court has ruled that plan sponsors have a duty to monitor investment options on a continuous basis. As we previously discussed in the Tibble v. Edison case, the central argument...

Note: This article was published in 2015. The SECURE 2.0 Act of 2022 made changes to the rules relating to an employer's ability to rely on an employee's self-certification of the need for a hardship distribution. As such, some information in this ar...

Late in 2014, the IRS posted an article on its website about how long retirement plan records should be kept. With eager anticipation, I clicked on the article and found that it said…not much.

As the April 15 income tax return deadline approaches, many individuals and business owners are wondering how to decrease taxable income and are looking for ways to reduce taxes. While it is best practice to consult a knowledgeable CPA or Enrolled Ag...

Fidelity Investments reported that about 72,000 workers had amassed $1 million or more in their 401(k) retirement plans with Fidelity at the end of 2014. While higher-paid workers should have little problem accumulating a million dollars over a 30- o...