Building and Maintaining Effective Compensation Plans

One of the continuing challenges that construction companies are facing today involves designing the best compensation strategy that helps attract and retain top talent, while also achieving the business goals of the company. At the Barnes Dennig Annual Construction Seminar on February 7th, 2018, Pryia J. Kapila, of

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Fixing Plan Mistakes – Failure to Start Minimum Distributions

Managing a retirement plan can be a challenging task. There are many rules and regulations that the plan sponsor must follow which include participant deferrals, hardship loans, contribution management and limits to review and hardship distribution management. In addition, the plan sponsor needs to work closely with the plan custodian

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What Does the DOL Look For In An Audit?

A Department of Labor (DOL) Audit can be a costly and time consuming endeavor. In addition to monetary penalties, those subjected to an audit can spend a significant amount of time gathering information in response the DOL’s inquiries. By 2016, the DOL’s monetary recoveries exceeded $700 million. What Triggers a

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Preparing For an Employee Benefit Plan Audit

For many growing businesses, there may come a time for an when an employee benefit plan (EBP) audit is mandated by the Department of Labor. If you’re not prepared for the additional scrutiny, especially in light of ever-changing rules and procedures governing qualified employee benefit plans, it can cost valuable

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401(k) Contribution Limits Increased for 2018

For the first time in three years, the IRS has increased the annual 401(k) contribution limit for 2018. The annual limit was increased $500, to $18,500. The catch-up contribution limit remains unchanged at $6,000, resulting in a total contribution limit of $24,500 for individuals over the age of 50. Additionally,

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