Enshrining these in a well-crafted loan policy statement can help plan sponsor clients take control of leakage and excess early withdrawals; like any stated compliance policy, what is written must be followed.
Some sponsors that want to use a pre-approved plan have certain provisions that were not in effect for the plan for the entire restatement period or options that have changed during the restatement period.
The upgraded fee checker tool by America’s Best 401k allows participants to lookup plans by business name to compare fees.
Cetera Expands Retirement Business; Mercer Expands Leadership in Detroit Office; OneAmerica Names West Coast Relationship Executive.
Experts with the American Academy of Actuaries argue the Annual Funding Notice process required of pension plans under ERISA Section 101(f) is “an example of a good idea gone wrong.”
The agency is seeking input about what to include in its presentation.
The agency has made changes to its opinion letter program for pre-approved retirement plans.
In a notice, the IRS reminds retirement plan sponsors it no longer issues determination letters for individually designed plans.
During a hearing, Acosta claimed that previously the SEC did not work jointly with the DOL on the rule.
403(b) plan sponsors can now seek out providers of pre-approved plan documents to adopt.
The three-day event featured speakers from the DOL, top ERISA law firms and plan providers, as well as high-performing plan sponsors from across the U.S.
Wagner Law Group says its volume submitter 403(b) plan has flexible design options to meet the needs of most 403(b) plan sponsors.
DC plan sponsors with individually designed plans can convert to a pre-approved plan now that the IRS determination letter program has ended.
The document is a volume submitter format and is designed to accommodate both ERISA and non-ERISA plans as well as church plans and plans for governmental entities.
The Lifetime Income Disclosure Act would require employer-sponsored plans to provide participants with statements detailing potential lifetime income from annuities.
The 6th Circuit said if 403(b) participants had tried to use the plan's administrative remedies for claims a plan amendment violated ERISA, it would have been futile.
Groom has developed its Document Compliance Service (DCS) for individually designed plans that have current IRS determination letters.
The new solution by Appo Group aims to cut costs and time by allowing users to create and manage multimedia communication materials through a single platform.
The last day of the remedial amendment period for 403(b) plans is March 31, 2020.
ERIC has made suggestions to the IRS to help qualified individually designed retirement plans that no longer have the ability to file for determination letters.