06.23 / [Update] Important Notice on Regulatory Compliance and Filing of Form 8955-SSA
Dear Client, This is a follow-up to our previous memo regarding 8995-SSA (which you can read by clicking here). We are pleased to inform you that the IRS has announced that if you received an IRS Penalty Notice before September 1, 2023 and have not sent a response for abatement, you no longer need…
30.23 / Important Notice on Regulatory Compliance and Filing of Form 8955-SSA
Subject: Important Notice on Regulatory Compliance and Filing of Form 8955-SSA We hope this communication finds you in good health and spirits. We are writing to inform you of a recent development regarding the filing of 2022 Form 8955-SSA with the Internal Revenue Service (IRS), and to address any concerns you may have about a…
20.23 / SECURE 2.0 is a GO! – Benefit Insights Newsletter
SECURE 2.0 is a GO! In 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act increased the Required Minimum Distribution (RMD) age for retirement plan participants from age 70 1/2 to 72. Additionally, it introduced opportunities for Long Term Part Time (LTPT) employees to make deferral contributions to retirement plans in situations where…
12.23 / Plan Participants: The More They Know, The Better
29.21 / Long-Term Part-Time Employees
Recommended Read: Plan Sponsors, Plan Trustees, Financial Advisors. As we previously informed you, the Internal Revenue Service (“IRS”) has created a new rule that will allow certain of your long-term, part-time employees to begin participating in your 401(k) plan. Under these rules, the IRS has indicated that any employees who have worked for you for…
24.20 / COVID-19
Pension Services, Inc – News.
14.14 / Why You Shouldn’t Hire Your Payroll Company To Run Your 401(k) Plan
In “The Outlaw Josey Wales” Josey, played by Clint Eastwood approaches a man in a bar and asks if he is a bounty hunter (there to kill Josey). The bounty hunter replies that a man has to do something for a living and Josey replies that “dying ain’t much of a living, boy.” I have…
01.14 / Financial Advisors Need To Value The Art Of Retirement Plan Design
Back around 35 years ago, beer in this country was considered a mass produced, mass marketed business offering very low quality, light lagers. Beer was less of an alcoholic beverage and more of a slogan that was less filling or tasted great (while making Rodney Dangerfield a household name). Schlitz, which was at one point…