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HSA vs 401(k)

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HSA vs 401(k)
If your company has decided to offer a high deductible health plan, don’t worry, you are not alone. Recent studies show that an increasing number of employers have elected to offer high deductible health plans (HDHP) either to completely replace or be offered in conjunction with a more traditional Health Maintenance Organization (HMO) plan or Preferred Provider Organization (PPO) plan. When sponsoring an HDHP, employers typically offer their employees the ability to contribute to a H...
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Who is an Employee?

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Who is an Employee?
Maintaining a retirement plan for your employees is no easy task. At various points during the year, employers and HR departments field participant questions, help with enrollments, deliver notices and statements, and participate in the distribution process. However, an additional responsibility, and one of the most important, is the collection of data that is used for compliance testing and government reporting. Though all of these duties are important, one task drastically affects the ou...
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Under the New Tax Law

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Under the New Tax Law
After many rounds of negotiations, Congress passed the Tax Cuts and Jobs Act on December 20th, 2017.  Though retirement plan limit reductions were included in many iterations of the bill, the ultimate effect on qualified plans was relatively minimal.  There are two items of note that were included in the new law affecting loan repayments and IRA conversions. 401(k) Loan Payback Period gets extended!Many defined contribution plans include provisions for a participant to take a ...
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Navigating Distributions

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Navigating Distributions
The first quarter of the calendar year typically sees an uptick in the number of retirement plan distributions and participant loans. This year may be even busier than most, given the relief announced by the IRS for victims of the recent hurricanes and wildfires. Whatever the reason, participant distributions present a complex set of rules for Plan Sponsors to navigate. Participants can receive distributions from retirement plans for a myriad of reasons. While some are requested by the par...
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iWork: The Next-Gen Workforce

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iWork: The Next-Gen Workforce
Millennials. You may have noticed them around the office. You might think of them as the lazy, flighty, entitled generation born between the early 80's and 00's that say "totes" when they agree with you. Like any group of misplaced stereotypes, not all is as it appears when it comes to the younger contingent and, since they are taking over as the largest sector of the workforce, you may want to take a second look at them as adults, assets, and major contributors to your company's retir...
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End of the Year Checklist

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End of the Year Checklist
End of the Year ChecklistAs the year-end approaches, our to-do lists can be lengthy. There are holidays to prepare for, employee performance reviews to complete, and, oh, wait, there is also the year-end data collection package from your TPA! We have once again reached that magical time of the year when you get to submit information regarding your retirement plan so your compliance services can be completed. While your TPA firm does the heavy lifting, the information you submit is the basis for ...
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