Jul 13, 2019
Scott M. Cloud, MBA, CPC The Retirement Plan Company Scott has over 15 years of experience in the retirement plan industry, with expertise in plan design, documents, administration/consulting, and employee education/enrollment. Employers that are establishing a new 401(k) plan are often unaware of an IRS-required compliance test that can...Jul 8, 2019
Scott M. Cloud, MBA, CPC The Retirement Plan Company Scott has over 15 years of experience in the retirement plan industry, with expertise in plan design, documents, administration/consulting, and employee education/enrollment. Including a safe harbor contribution provision in a 401(k) plan enables the employer’s owners and...May 28, 2019
Though some employers may not think so, the truth is that in today’s world 401(k) plans are subject to fraudulent activity and that the often-overlooked retirement plan can be the perfect place for it to occur. For example, in late 2017, several news outlets reported a scheme targeting individual 401(k) accounts. The U.S. Attorney’s...May 28, 2019
With the future of Social Security in question, it is becoming ever increasingly important for workers to self- prepare for post-retirement living. Studies show that approximately one out of every three eligible workers choose NOT to participate in their employer-sponsored 401(k) plan. Offering automatic enrollment in your 401(k) plan is a way...Mar 12, 2019
In 2018, the 401(k) plan celebrated its 40th birthday! Though extremely popular today, 401(k) plans came about almost by accident. IRC Section 401(k) was passed into law as part of the Revenue Act of 1978 and was included to limit executive compensation. However, in 1980, Ted Benna of the Johnson Companies used the provision to create and get IRS...Mar 12, 2019
If your plan offers a Roth 401(k) provision, your participants might ask, “Which one is better for me?” As the availability of Roth options in 401(k) plans and Roth contribution percentages continue to rise, it’s important to be able to guide participants in making the right choice. 401(k) plans offer many advantages to participants; the ability...