Partnering with a Third Party Administrator (TPA) can be very beneficial to help manage compliance-oriented and day-to-day tasks related to managing a retirement plan. Many TPA’s refer to themselves as ERISA Consultants. 401(k) plan sponsors know that running a plan requires a lot of work, whether it’s seeking answers to…
Do you know who’s who in the world of the 401(k)? With 401(k) plans set to celebrate their 40th birthday in 2018, their popularity continues to grow. Assets neared the $5 trillion mark at the end of 2016. 401(k) plans are a great way for participants to save for their…
It’s that time of year again where limits for 401(k) plan contributions are released by the IRS. Because the cost of living index did not rise by much, the limits, for the most part, have remained unchanged. We put together a comparison of 2016 and 2017 to show which limits…
The potential for an audit is a fact of life for retirement plan sponsors. Audits can be conducted by either the Internal Revenue Service (IRS) or the Department of Labor (DOL). They can’t really be avoided—but you can prepare in advance for an audit. Incorporating a process of prudence…
Many assume the Form 5500 is a tax form, but the development of the entire 5500 series was a joint effort by the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guarantee Corporation (PBGC) to “satisfy annual reporting requirements under ERISA and the Internal Revenue Code.” In other…