Plan Operations & Admin

Hardship Withdrawals: New Year, New Rules
This past November, the IRS issued proposed regulations to effectuate changes made for hardship withdrawals in the Bipartisan Budget Act of 2018. Comments were due by Jan. 14, 2019. Although the statutory changes are effective beginning in 2019, the proposed regulations do not require any changes in how hardships are administered until 2020. Plan documents  Read More →
Six Easy Steps to Keep Plan Assets Safe in a Virtual World
Cyber fraud is a growing concern globally. Individuals are typically very careful to keep their bank account and email authentication information safe, but they aren’t always smart with the rest of their personal information. Participants need to be vigilant with their retirement savings accounts as well. In the past year we’ve seen a slew of  Read More →
Fee Payment Methods in 401(k) Plans: Know Your Options
A plan sponsor (i.e. employer) can elect to pay or allocate plan fees in a number of different ways, and it is important to understand all available options, as this is a fiduciary decision. In fact, the DOL observed in Field Assistance Bulletin (FAB) 2003-03 that plan sponsors and fiduciaries have considerable discretion in determining,  Read More →

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