by Natalie Harris | Apr 16, 2025 | Uncategorized
Defined benefit and cash balance plans generally provide annual benefit accruals based on a formula outlined in the Plan Document. In plain terms, this means that the benefits owed to plan participants increase each year. To fund these increasing benefits,...
by Taylor Brown | Jan 10, 2025 | Uncategorized
News You Can Use! for Advisors and CPAs As we begin 2025, a couple reminders about some changes under SECURE 2.0 that may be top of mind: 1. Long-term part-time employee rules now only require two years of service with at least 500 hours of service. Initially the...
by Natalie Harris | Dec 10, 2024 | Uncategorized
News You Can Use! for Advisors and CPAs Reminder: Age 60-63 Super Catch-Ups Begin January 1st The gift that keeps giving: SECURE 2.0! Effective January 1, 2025, plans may permit participants aged 60-63 to make catch-up contributions over the regular catch-up limit....
by Natalie Harris | Nov 12, 2024 | Uncategorized
December 1st Participant Notices – Annual notices due for Safe Harbor elections (note that some plans are no longer required to distribute Safe Harbor notices), Qualified Default Investment Arrangement (QDIA), and Automatic Contribution Arrangements (EACA or QACA)....
by Natalie Harris | Nov 12, 2024 | Uncategorized
Required Minimum Distributions (RMD) should be paid by December 31 each year to participants who have reached age 73. However, a participant may elect to delay their first distribution until April 1 of the following year. If the first distribution is delayed, two...
by Natalie Harris | Nov 12, 2024 | Uncategorized
A catch-up contribution is available for plan participants starting in the year age 50 is reached. For these participants, the annual deferral limit can be exceeded by the catch-up amount. Keep the following in mind: The annual deferral limit is based on the...
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