Benefit Plans Plus Releases Mobile Adviser App

Benefit Plans Plus (BPP) LLC has released a new mobile application (app) designed to support retirement plan advisers and 401(k) wholesalers.

The app grants advisers quick access to BPP’s business development team and sales tools, and allows advisers to remotely request recordkeeping and third-party administrator (TPA) proposals. Users can also quickly view BPP’s sample plan designs and walk clients through the potential benefits of plan design changes via the app.

Other functionalities include a weekly newsletter featuring hand-picked industry articles and a schedule of upcoming events. The firm says the app is designed to help 401(k) advisers be more efficient and to provide instant access to business development consultants and tools.

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BPP’s free mobile app is compatible with iPhones, iPads and Android devices. The app is available on the Apple iTunes Store and Google Play Store, and can be located by searching “BPP.”

IRS Issues Guide for Retirement Plan Reporting

The Internal Revenue Service (IRS) has created a guide for retirement plan sponsor reporting and disclosure responsibilities.

Retirement plans are generally required by law to file certain forms with the IRS and the Department of Labor (DOL) and to send out notices to affected parties when certain events happen. Different reporting and disclosure requirements apply depending on the type of plan and the plan’s circumstances.

The Reporting andDisclosure Guide for Employee Benefit Plans was prepared by the IRS and reviewed by the Treasury Department, the DOL, and the Pension Benefit Guarantee Corporation (PBGC). It is intended to be used as a quick reference tool for certain basic reporting and disclosure requirements under the Employee Retirement Income Security Act (ERISA).

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This Guide should be used in conjunction with the DOL Retirement Plan Reporting and Disclosure Guide at www.dol.gov/ebsa/pdf/rdguide.pdf.

More information about retirement plan reporting and disclosure responsibilities is here.

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