Profit Sharing

Your retirement plan offering is a valuable tool for recruiting and retaining talent, as well as helping your employees prepare for their retirement.  But, what if something were to happen to him or her before they could enjoy the savings they’ve worked so hard for?

The IRS has now released all of the 2025 benefit limits. These include both the cafeteria and health plan limits as well as all of the qualified retirement plan limits. Earlier this year, they also released the High Deductible Health Plan (HDHP) and Health Savings Account (HSA) limits.

In a recent PLR from the IRS, an interesting optional approach to allow an employee to direct their employer contributions to a qualified retirement plan (such as a 401(k) plan) opens the door to some possibilities for employers looking to expand their benefit offerinngs without increasing costs.

Rather than seek out retirement plan consulting, many employers offer a take-it-or-leave-it retirement plan design from their payroll or other provider. They assume that all 401(k) plans are the same, not paying attention to the details. After all, don't we just have to say we have a plan?

Almost every organization that sponsors employee benefit plans must file IRS Form 5500. Of course, there are different rules and requirements for 5500s based on the type of plan being reported. In today’s post, we’re going to look at a few of the common questions that we receive about 5500s.

The IRS has now released all of the 2024 benefit limits. These include both the cafeteria and health plan limits as well as all of the qualified retirement plan limits.

Earlier this year, they also released the High Deductible Health Plan (HDHP) and Health Savings Account (HSA) limits.

401(k)’s and other retirement plans are extremely technical, But by working with a highly skilled Third Party Administrator (TPA), employers can be supported in these tasks, assured their plan is running smoothly, and in compliance with ERISA and IRS regulations.

The IRS has now released all of the 2023 benefit limits on October 21, 2022. Earlier this year, they also released the High Deductible Health Plan (HDHP) and Health Savings Account (HSA) limits.

The IRS has new requirements for employers that utilize a fully discretionary matching contribution formula in their pre-approved plans.

The same IRS Notice (2020-68) that addresses Qualified Birth or Adoption Distributions (QBADs) also deals with how to handle the SECURE Act’s inclusion of long-term part-time employees and their eligibility for 401(k) plans.

While QBADs have been permissible since January 2020 under the SECURE Act, many employers have been waiting for some IRS guidance on how these distributions would be implemented before making a decision as to whether to include a QBAD as a plan feature. IRS Notice 2020-68 does that (and a bit more).

The Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27, 2020. It's a mammoth bill of over 880 pages, and contains many employee benefit-related items. This post, the second in the CARES Act series deals with the qualified retirement plan provisions in the Act.