New Pooled 401(k) Plans Coming in 2021

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.

Read More

Revisiting Changes to 401(k) Hardship Withdrawals

Retirement plans were in the news a lot during 2020, but one thing that may have been missed or overlooked are the changes made to hardship withdrawal rules. The following changes were made as of January 1, 2020, with some being mandatory and some being optional. We’ve outlined the most

Read More

Securing a Strong Retirement Act of 2020

COVID-19 has had a monumental impact on the economic landscape in 2020, and the repercussions will be felt long after the year is over. While economic studies of retirement contributions for 2020 have found that most participants stayed the course during the pandemic and continued regular retirement contributions, the overwhelming

Read More

Does Your 401(k) Plan Need An Audit?

Some businesses’ 401k and retirement plans are too small to need an external audit. Generally speaking, only when your participant count exceeds 100 will you be required to conduct a benefit plan audit. However, there is one exception to this general rule. The “80-120 rule,” as it is commonly known,

Read More

PCORI Fee Applies for Another 10 Years

It’s that time of year again. Time for self-insured health plan sponsors to prepare to report and pay the annual Patient-Centered Outcomes Research Institute (PCORI) fee that was established by the ACA.  Although originally established for plan years ending from October 1, 2012 through September 30, 2019, the fee has

Read More