Plan Sponsor and Administration Resources

With communication mediums like email, text, and IM’s becoming the standard in business industries worldwide, plan sponsors are becoming increasingly interested in abandoning paper processes for a more electronic means of communication with plan participants and beneficiaries. Since e-delivery is not an “all or nothing” prospect, this new approach presents itself as an accessible and

It is estimated that uncashed checks account for billions of dollars, representing a fortune of uncollected funds belonging to plan participants or beneficiaries that they are not able to use and also represent serious issues for fiduciaries. Uncashed distribution checks occur when retirement plan participants fail to cash or deposit a distribution check from their

At Markley Actuarial, we can help you understand the impact of Pension Plan decisions. We have successfully implemented several strategies described in this article. New Mortality Tables For several years, Markley Actuarial has been encouraging our clients to act before updated mortality tables increase the liability of their Pension Plan. The IRS has now issued

If you have a 401(k) plan, you’ve likely had participants ask about taking loans from their accounts. If you haven’t yet, it is only a matter of time. While the concept of taking a loan is pretty straightforward—you borrow money, you repay it with interest—there are some pretty detailed rules that govern loans in the

A 401(k) plan permits employees to defer a portion of their salaries on a pre-tax basis with the objective of accumulating assets for retirement. Additional assets are accumulated if the employer makes contributions to the participant’s account. With today’s mobile workforce, many distributions are made before retirement because employees usually become eligible to receive distributions

Written by: Erik Mitchell, CPC, QPA, QKA, ERPA – Client Manger I attended the Department of Labor’s program “Getting It Right- Know Your Fiduciary Responsibilities” on August 18 in Newark, New Jersey.  This seminar is part of the Employee Benefits Security Administration’s (EBSA) Fiduciary Education Campaign designed to improve workers retirement security by educating employers

On April 8, 2016 the Department of Labor (DOL) issued final guidance that greatly expands the types of retirement investment advice that will be subject to the fiduciary duty rules under the Employee Retirement Income Security Act of 1974 (ERISA). The so-called “conflict of interest” rule for retirement investments will have a significant effect on

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. What is a forfeiture? Putting it simply, a forfeiture is the non-vested portion of a

Forty two years ago the Employee Retirement Income Security Act, ERISA, was signed into law by President Ford on Labor Day 1974 and it contained a two part definition as to who was a Fiduciary Advisor to a qualified employer retirement plan. The person renders investment advice with respect to any moneys or property of

If your firm has a profit sharing plan, a 401(k) plan or some other tax-qualified retirement plan, then you have been given a Form 5500 to sign and file every year since your business adopted the plan. While the form looks like most other IRS forms, the information reported on the filing is automatically provided