Does Your Ohio 401(k) Plan Need An Audit?
Some Ohio 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
DOL Relaxes 401(k) Rules for Small Businesses
On July 29, 2019, the U.S. Department of Labor released a final ruling that allows smaller businesses to link together and create joint 401(k) retirement plans for employees. This ability to link plans, historically restricted to businesses with common ownership, can provide significant cost savings as these joint plans will
How Benefit Plan Leaders Use Cybersecurity to Protect Participant Data
On June 13, 2019, Barnes Dennig and The Rinehart Sussli Financial Group of UBS hosted a group of experienced professionals for the sixteenth Annual Employee Benefit Plan Seminar. Given that retirement plans are a valuable tool for rewarding and attracting top talent, our goal is to help the business community
2019 ERISA Deadlines Plan Administrators Should Know About
As we move into 2019, there are important deadlines for plan administrators to note on ERISA compliance items. These items and deadlines are listed below: Please keep these important ERISA items and deadlines to ensure compliance throughout 2019. If you have any questions please contact me via email here,
Expect the First Major Changes to Retirement Plan Bills in 2019
Retirement bills that are in the works by a bi-partisan group of Senators could change 401(k) plans starting in 2019. If these bills are passed, it will be the first major change to 401(k) plans in more than a decade. These changes will make it easier for small companies to
Increased 401(k) Contribution Limits Present Opportunities for Employers
The IRS has increased the annual 401(k) contribution limits for 2019. The annual contribution limit was increased $500, to $19,000. The catch-up contribution limit remains unchanged at $6,000, resulting in a total contribution limit of $25,000 for individuals over the age of 50. Additionally, the annual compensation limit was increased,