Category Archives: Retirement Plans

Retirement plans with more than 100 participants with account balances require a CPA audit for their Form 5500. However, small plans with less than 100 participants may sometimes require an audit. This often happens when more than 5% of the … Continue reading →

We always tell plan sponsors to keep ERISA records for 7 years. In this day and age of scanning and PDFs, should mean you don’t need to throw anything out if it’s saved online. The reason I hate for plan … Continue reading →

There have been 25 cases where plan sponsors have been sued over their right to use forfeitures to reduce employer contributions. 7 cases have had motions for summary judgments made by the plan sponsors. 2 cases have survived the motion … Continue reading →

People like to read, and so do I. They also like to read articles and find out information, especially if it can save them money. So they read about the opportunity where through a 401(k) plan, they could put away … Continue reading →

For the last two months, I had two phone call conversations with plan providers that I haven’t talked to, in some time. The reason I didn’t talk to either person for a long time, was because they were working for … Continue reading →

In a further consolidation of the retirement plan business, Voya Financial, Inc. announced that it has completed its acquisition of the OneAmerica Financial, Inc. full-service retirement plan business. Thanks to the September 2024 purchase, Voya now serves approximately 60,000 retirement … Continue reading →

Walgreens, one of the largest retail pharmacy and healthcare providers, announced the launch of the Walgreens Student Loan 401(k) Match Program. This new benefit, available beginning in January 2025, will allow their plan participants to qualify for company 401(k) match … Continue reading →

The Department of Labor’s Employee Benefits Security Administration (EBSA) launched the public Retirement Savings Lost and Found Database, an online tool designed to help former participants and beneficiaries find retirement plans that may still owe them benefits. The database was … Continue reading →

Small business plans that require no testing such as a SIMPLE IRA sound great on paper, but they create a nightmare when you want to save more for retirement as an employer. The problem is that a SIMPLE plan has … Continue reading →

With a new administration in the White House, tax legislation will certainly be on the plate. As we know with the last tax bill, great tax deductions and subsidies could be on the chopping block to pay for tax cuts. … Continue reading →