Employees with Student loan debt are provided a new boon through a 401(k) Student loan benefit program with new private letter ruling under certain circumstances. The IRS made public PLR 201833012, released on August 17, 2018, which clarifies circumstances for a 401(k) plan to offer a student loan benefit program.
On June 7, 2018, Barnes Dennig and The Rinehart Sussli Financial Group hosted a group of experienced professionals for the fifteenth 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 stay up-to-date
The recently enacted Tax Cuts and Jobs Act (the Act) will impact many taxpayers. Here is what employers need to know about how the tax reform affects retirement plans. Plan Loans When an employee that has a plan loan leaves their employer the outstanding balance becomes a taxable distribution unless
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
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
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