Substantial retirement reform legislation expected to pass by year’s end being cobbled together from three bills with many similar objectives Provisions in all three bills Some of the provisions that are in all three bills include: Further expand eligibility for long-term, part-time employees to make 401k plan contributions by lowering the service requirement from 3 years to 2 years. … Read More
DP Grow – What is a Retirement Plan Restatement?
From time to time, all qualified retirement plans are required to be updated to reflect recent legislative and/or regulatory changes. As you may know, it is a fiduciary responsibility to update your retirement plan document with the most recent legislative or regulatory changes. The Internal Revenue Service (IRS) requires that qualified retirement plans be restated to incorporate regulatory changes in … Read More
Penalty Relief Pilot for Small Retirement Plans Begins in June
The Internal Revenue Service will begin a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot program, they can avoid penalties. The IRS is reaching out to certain small businesses that maintain retirement plans and may have been unaware … Read More
401k Payroll Processing Business Services
Single point of contact for your 401k payroll processing Services Same-day reply to all phone calls and email 100% of electronic contributions (such as ACH) invested within 3 days of receipt of orderly data and funds 100% of participant transactions processed within 3 days of receipt of orderly data and funds Assumption of co-fiduciary responsibility to assist plans in meeting or … Read More