Viewing articles about Plan Operation
Dealing with Uncashed Distribution Checks and Missing Participants
This article will focus on defined contribution plans, although defined benefit
plans have issues as well, especially since benefits may not be payable until...
Fun with Forfeitures
Sooner or later, almost all 401(k) plans will face the "fun" of dealing with forfeitures.
Just like every other plan-related operational item, there are specific rules that provide
guidance on the "who, what, why, when and where" of using forfeitures.
Timing is Everything
For years now, we have been hearing from the Department of Labor (DOL) about the importance
of depositing employee 401(k) deferrals and loan payments as quickly as possible.
The Ultimate Plan Sponsor Checklist
While they don't have a book called Retirement Plan Sponsorship for Dummies, they should. So in the interim,
here is a checklist that plan...
Ready or Not, Here it Comes...the PPA Plan Restatement
It's time again to participate in that never ending ritual of qualified retirement plan restatements.
As legislation affecting retirement plans is enacted...
Boomerang Employees: Rehires and Retirement Plans
A boomerang employee (as we will use that name in this article) is, quite simply, one who leaves and then comes
back to work…a rehire. As is so often the case, the retirement plan rules related to rehires are quite different
than those that...
The IRS Meets Letterman
Anyone who has ever watched late night television is familiar with the ubiquitous Top 10 List, counting down
humorous examples of whatever is in the news. Not to be upstaged, the IRS has its own Top 10 List—the top 10
How to Survive a Visit from the IRS or DOL
There are few things that will give a person that sinking feeling in the pit of their stomach like opening the
mailbox and seeing an envelope with the words "Internal Revenue Service" (or Department of Labor) in the return
Fiduciary Fact or Fiction
The rules that govern the behavior of retirement plan fiduciaries are quite complex. Any time we are required to
deal with complicated subject matter, things can get confusing, potentially leading to decisions based on a
The Final Fee Disclosure Regulations Have Arrived
Nearly five years in the making, the Department of Labor (DOL) has published its long-awaited plan sponsor fee
disclosure regulations under ERISA section 408(b)(2). With these new regulations taking effect on July 1, 2012,
Increasing 401(k) Plan Participation
Cash or deferred retirement plans, more commonly referred to as 401(k) plans, have become the backbone of the
private pension system in America. They long ago replaced employer-sponsored pension plans as the most common
Dealing with Terminated Participants
Sooner or later, every retirement plan will have to deal with participants who have terminated employment but
still have balances in the plan. In most circumstances, the plan document provides guidance on how to proceed;
however, there are...
Plan Year-End "To Do" List
The end of the year is fast approaching which signals important assignments for plan administrators. First are
the items that must be completed by year-end, such as establishing a new plan or making required minimum distributions.
Voluntary Corrections for Qualified Plans
Given the complex nature of administering qualified retirement plans in accordance with ever-changing pension
law, mistakes are inevitable. When the IRS discovers plan mistakes through audit, the plan risks being
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