by JoAnn Cassell | Jun 24, 2022 | Safe Harbor 401(k)
To ensure 401(k) plans don’t unfairly prioritize senior executives, the IRS uses an annual test usually called ADP. The ADP test compares the average salary deferral percentages of highly compensated employees (HCEs) to others. The ADP of HCEs may not exceed that of...
by JoAnn Cassell | May 15, 2022 | Restatement
It may seem like everything is going well with your pre-approved 401(k) plan. But are you on course for Cycle 3 restatement? Pre-approved plans are those sold to employers by qualified financial institutions or benefits providers. Approximately every six years, the...
by JoAnn Cassell | Apr 20, 2022 | 401k Compliance, 401k Plan Mistakes, Record Retention
Today’s cloud-based business systems simplify and streamline processes like never before. They can help teams around the world collaborate as if they were just around the corner. But there’s a drawback: your technology can move faster than your compliance. A Japanese...
by JoAnn Cassell | Mar 28, 2022 | Regulations & Policies, Retirement Plan
A retirement plan is one of the most valuable employee benefits you can offer. By giving your people peace of mind about the future, you’ll inspire them to new heights. But a retirement plan introduces potential for costly mistakes—and that might keep YOU up at night....
by JoAnn Cassell | Feb 18, 2022 | Regulations & Policies
In 2021, Paycheck Protection Program loan recipients were hit with two pieces of important news: First, the obvious: Many PPP loan holders entered the period when they could apply for loan forgiveness. Borrowers can apply once all loan proceeds have been used, any...
