Monthly Archives: January 2022

My latest newsletter can be found here.

My latest article on JDSupra.com can be. found here.

I live in an unincorporated village on Long Island and I’m always amused by the people who want to lead the community without the best of good intentions. There are so many who do charity fundraising for the community and there … Continue reading →

The Treasury and Congress’ Joint Committee on Taxation have provided new estimates of how much. Money is “leaked’ out of 401(k) plans and Individual Retirement Accounts. Leakages come from three withdrawal sources: cash-outs when participants change jobs, hardship withdrawals, and … Continue reading →

I hate moving. I’ve lived in the same house now for 16 years and I dread the idea of moving and I haven’t put the house up for sale. That’s why I always loathe when there has to be a … Continue reading →

I think the one thing that 401(k) plan sponsors really forget is that the plan is an employee benefit. As with all benefits, it is a tool to recruit and retain employees. A great plan with great tools for participation … Continue reading →

Bonuses are nice, I wouldn’t know because in the 11 years I was an employee, I got $300 for the holidays after I started in September 1998 and never received one again. This article isn’t about my lack of bonuses, … Continue reading →

When I draft a new 401(k) plan for a client, I’ll recommend a loan provision even though it can be an administrative headache. The reason that I add it is because I think participants need to have access to money … Continue reading →

With 2022 here, don’t forget about Cycle 3. This “Cycle 3” restatement means that all qualified pre-approved 401(k) plan documents will need to be amended, certified by the IRS, and adopted by the plan sponsor by the deadline of July 31, … Continue reading →

The Department of Labor’s Employee Benefits Security Administration (EBSA) released their final revisions to the Form 5500 and the Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan for the 2021 plan year and includes changes that apply … Continue reading →