Blogs
2023
SECURE 2.0 Act Increased RMD Age!
03/23/2023
The Secure 2.0 Act mandates changes to the retirement plan industry in many aspects. One of these aspects is that is changed the age in which a required minimum distribution must be taken. As to this, …
What is the Small Business Retirement Plan Start-up Tax Credit?
02/14/2023
The aim of the small business retirement plan start-up tax credit is to make it less expensive for small businesses to begin new retirement plans. In concern to this aim, the SECURE 2.0 Act…
2022
Timing of Employer Matching Contributions and Employer Non-Elective Contributions
12/27/2022
There are two annual deadlines that apply to employer matching contributions and employer non-elective contributions. As a practical matter, it is important to understand both annual deadlines. In this regard, …
The ‘ERISA Audit’ Requirement
12/19/2022
A retirement plan is generally subject to an audit. It is common for there to be non-compliance with this requirement. To avoid…
Late Elective Deferral Contributions To A Retirement Plan
12/2/2022
A common scenario is where elective deferral contributions are not timely deposited. This causes major consequences and action must be taken to remedy the scenario. With that in mind…
What To Know About Retirement Plan Committees
11/11/2022
This blog will provide a general overview in connection with retirement plan committees. It is beneficial for a retirement plan to have a retirement plan committee. As to…
Force-Outs: How Do They Work?
11/07/2022
An integral provision of a retirement plan document may be a “force-out” provision. This provision concerns the account balances of former employees. In connection with…
Safe Harbor Notice: What To Know
10/31/2022
The Internal Revenue Service requires the distribution of a safe harbor notice to each eligible employee of a plan. To comply with this requirement, it is important to understand the rules regarding a safe harbor notice. In this regard, …
SIMPLE IRAs To 401(k) Plans
10/17/2022
A SIMPLE IRA grows over time and may better serve a client through a conversion to a 401(k) plan. Thus, advisors should consider recommending to their clients that their SIMPLE IRAs convert to 401(k) plans. In a 401(k) plan, …
Guidance on the ERISA Fiduciary Bond Requirement
10/04/2022
Fidelity bonds are a necessity in the realm of retirement plans. It is a prudent of plan fiduciaries to be cognizant of the rules concerning fidelity bonds. With that in mind, all…
An Overview of Required Minimum Distributions
09/26/2022
It is essential for retirement plan participants and owners of employer-sponsored retirement plans and individual retirement arrangements to be knowledgeable of the rules concerning required minimum distributions. In this respect, this blog provides valuable information.
Recent Case Law on Target-Date Funds
09/19/2022
Plan fiduciaries have a duty of prudence under ERISA. Thus, it is important to track case law concerning this duty. In this regard, Smith v. CommonSpirit Health…
Why Choose RetireWell Administrators?
09/14/2022
Your retirement plan can increase your retirement savings, assist in recruiting and maintaining top talent, and reduce taxes. However, the plan must be compliant with all government requirements. A third-party retirement plan administrator (TPA) helps with all these critical items.
Important Notices
09/13/2022
RetireWell Administrators is here to help educate Plan Representatives on required notices that need to be distributed to participants over the plan year. This blog will teach you in the What, When and Who for all required notices.
Benefits of Mid-Year Discrimination Testing
08/25/2022
Is it likely that your plan will fail nondiscrimination this year? Have you typically had to refund your Highly Compensated Employees (HCEs) in prior years due to failed nondiscrimination testing? If so, you can take steps to help ensure that the tests will be satisfied…