A terminated employee moves and doesn’t tell you and the check for the small benefit forced out of your retirement plan gets returned. A participant requests a distribution and the check gets delivered, but it is never...more
7/24/2025
/ 1099s ,
Benefit Plan Sponsors ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary Duty ,
Financial Institutions ,
IRS ,
Reporting Requirements ,
Retirement Plan ,
Revenue Rulings ,
Unclaimed Property ,
Withholding Requirements
For the first time in four years, the IRS adjusted the affordability percentage used for the shared responsibility penalties. The IRS recently announced that the affordability percentage for 2025 will be 9.02%....more
Unless an exception applies, all ERISA-covered benefit plans have to file an annual Form 5500 each year with the DOL and IRS (filed through the DOL’s website). Plan sponsors have the ability to combine their welfare plan...more
For the third year in a row, the IRS adjusted the affordability percentage used for the shared responsibility penalties down. The IRS recently announced that the affordability percentage for 2024 will be 8.39%. This is down...more
Errors in retirement plans happen even to the most well-intentioned plan sponsors. Several decades ago, the IRS published the first version of the Employee Plans Compliance Resolution Program (EPCRS), which outlines...more
SECURE 2.0 has changed the game again by now allowing employers to save time and money by eliminating certain notices to be sent to unenrolled employees. In the past sponsors were required to send voluminous documents...more