Category: 403b Plans
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