In the coming year, plan administrators may be approached to join a new type of pooled 401(k) plan. The SECURE Act established a new type of multiple employer plan called a “pooled employer plan” (PEP). These plans allow unrelated employers to participate in a single, shared 401(k) plan. The U.S.
At a recent Roundtable, hosted by Barnes Dennig, USI Insurance and Custom Design Benefits, local manufacturers gathered to discuss compensation and benefits, the future of manufacturing in the region, and some of the greatest challenges facing similar companies in today’s market. Jillian Fisher, a FastWorks Team Lead from GE Aviation
Does my plan need an audit? ERISA generally requires “large plans” to have an audit of the financial statements. The general rule is that plans with 100 or more participants at the beginning of the plan year are considered “large plans,” and plans with fewer than 100 participants are considered
Managing your company’s 401(k) plan is no doubt a difficult task. There are many rules and regulations that must be followed, and as fiduciary of a 401(k) plan, you have certain responsibilities that are required under ERISA. When something is missed it can have an impact on a plan participant’s