Category: 403b Plans
Will You Hit or Miss the Target?
November 20, 2012
Having a target in mind is always a helpful approach when attempting to guide oneself towards a particular finish line.
Playing it Safe with Rollovers of Mandatory Distributions
September 27, 2012
In our previous blog entry Moving the Goal Posts of Humaneness, we went over the news of the IRS no longer allowing their Letter-Forwarding Service for the use of […]
Moving the Goal Posts of Humaneness
September 13, 2012
In one of our previous blogs Mind Watching My Stuff for a Minute?, we discussed how to go about finding a participant who is unresponsive to communications from the plan sponsor.
“Can You Hear Me Now?” – Part II: Summary Plan Description and Summary of Material Modifications – Electronic Delivery
May 03, 2012
Posted by Christopher Ciminera In last week’s blog I drew a parallel between Verizon’s network coverage and communications of the retirement plan provisions through a Summary Plan Description (SPD) and Summary of Material Modifications (SMM). This week I will go into further detail on how to provide these communications electronically. The analogy to Verizon’s network coverage is still applicable since … Continued
Can You Hear Me Now? – Summary Plan Description and Summary of Material Modifications
April 26, 2012
Posted by Chris Ciminera I think back to the cell phone commercial with the Verizon spokesman with his black glasses and hand to his head as a parallel for retirement plan communications. Creating a plan or changing provisions without employees knowing about it doesn’t create good “coverage” for plan sponsors. In fact, the Employee Retirement Income Security Act … Continued
Employee Benefit Plan Bonding & Fiduciary Liability Insurance
April 12, 2012
Posted by Michael E. Mast, CPA The Employee Retirement Income Security Act (ERISA) section 412 requires plans to obtain an ERISA bond equal to the greater of $1,000 or 10% of the plan’s beginning of year plan assets, with a $500,000 maximum. In addition, if the plan assets include employer stock, then the maximum bond … Continued
Tax Filing Requirements for Voluntary Employee Benefit Association Trusts
February 09, 2012
Posted by Michael Mast, CPA Disclaimer: All blog posts are valid as of the date published. Voluntary Employee Benefit Association (VEBA) Trusts meet requirements to file both Form 5500 and Form 990. This requirement to file two returns made me question why other collectively-bargained benefit plans, such as the Pension, Annuity Funds, as well as … Continued
K.I.S.S.: Keep It Simple and Straightforward with Safe Harbor Plan Designs
January 05, 2012
Posted by Maria T. Hurd, CPA Most employers think that the maximum amount every participant can contribute to their 401(k) plans as a deferral from their own salary for 2012 is $17,000 plus $5,500 as a catch-up contribution if they are 50 or over. Unfortunately, the maximum limit may be cut back for the employer’s … Continued