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So nice to get a break from deadlines as the weather heats up. Hope your vacation and concert schedule is full of fun times ahead. Perhaps you will prepare a hundred or so Cycle 3 document restatements during down time?
Remember preparing your 2023 PBGC Forms that reflected big asset losses in...
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One week after the release of the final retirement security rule, senior officials with the Department of Labor’s Employee Benefits Security Administration (EBSA) defended the rollout of the fiduciary while taking a deeper dive to explain some of the key changes.
The DOL on April 23 released the...
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When a client informs your firm that they’re adopting a cash balance (CB) plan alongside their existing profit sharing 401(k) (PS/k) plan, it’s crucial to understand the implications and necessary adjustments.
Okay, your firm administers a profit sharing 401(k) (PS/k) plan for a client and they...
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TPAs and entrepreneurs are now focusing on a new trend: combining cash balance plans with 401(k)s. This approach caters to profit-rich entrepreneurs seeking significant tax deductions, presenting a valuable opportunity for TPAs.
As a TPA and entrepreneur, you always seek new opportunities to...
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While sympathizing with the participant-plaintiffs in the case, a federal judge finds no obligation to use “reasonable” life expectancy and interest rates in a pension calculation conversion.
Plaintiffs Thomas Reichert, Stuart Buck, and Kenneth Henrich (on behalf of themselves and others similarly...
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Editors’ Note: This is part IV of a four-part series about the importance of aligning the retirement benefits an employer offers with employees’ interests and needs. Part I is here; Part II is here; Part III is here.
Of course, an employer does not want to waste time and resources providing...
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Of all the promising provisions in the SECURE 2.0 Act of 2022, one of the most expensive (as the federal government does math, anyway) is likely to be one of the most challenging to implement.
It’s not effective till 2027, so there’s still some time to figure it out—but I’m talking about the new...
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Legislation that seeks to bolster the retirement income of teachers in Rhode Island—including through participation in the federal Social Security system—is going to receive further study.
The Finance Committee of the Rhode Island House of Representatives at an April 25 hearing decided to further...
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Overall, private-sector employees are more than four times as likely to have access to a defined contribution plan than a defined benefit plan, according to the U.S. Bureau of Labor Statistics (BLS).
The BLS in “TED: The Economics Daily” reports that in its most recent National Compensation Survey...
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Editors’ Note: This is Part III of a four-part series about the importance of aligning the retirement benefits an employer offers with those employees’ interests and needs. Part I is here; Part II is here.
Increasing employees’ financial literacy figures into the effort to better align...
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