by Paul Fennell | Apr 3, 2020 | Newsletter
Employers across the country are facing closures of offices and businesses, resulting in everything from required work at home arrangements to employee lay-offs and furloughs. This has raised important questions around retirement plan administration, including the...
by Paul Fennell | Mar 17, 2020 | Newsletter
We recently enabled a remote workplace environment for the majority of our employees. For those employees that are still in office locations, we’ve instituted social distancing policies that are consistent with recommendations from federal, state, and local health...
by Paul Fennell | Feb 14, 2020 | Newsletter
Such plans are subject to six-year restatement cycles. The next restatement cycle, referred to as the Cycle 3 Restatement period, will open later this year. A restatement is a complete re-writing of your plan document to incorporate changes in laws and regulations...
by Paul Fennell | Dec 30, 2019 | Newsletter
The bill was tucked into the 1,700 page, $1.4 trillion Further Consolidated Appropriations Act, 2020 (H.R. 1865, as amended) to fund half the government for the remainder of fiscal year 2020, which began Oct. 1. The House of Representatives approved H.R. 1865 on Dec....
by Paul Fennell | Nov 15, 2019 | Newsletter
Ashley Patrick and her husband, both in their late twenties, took out a $25,000 loan from his 401(k) account to pay for a home renovation. Then he lost his job, which triggered mandatory full repayment within 90 days. They didn’t have the cash to pay off the loan, so...
by Paul Fennell | Nov 6, 2019 | Newsletter
The IRS announced this and other changes in Notice 2019-59. The guidance provides cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. Highlights of Changes for 2020 The contribution limit for...
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