PLAN SPONSOR QUARTERLY UPDATE: Winter Edition 2024 — Promising news for clients who want to provide more rollover options to employees — a new bipartisan bill introduced in the House would permit employees to rollover money directly from Roth IRAs to a Roth account in an employer-sponsored plan.

News You Can Use for Advisors and CPAs! After the parties and sparkle of the holiday, it’s time to hit the ground running in 2024. First on the agenda: making sure clients are aware that the long-term part-time employee (LTPTE) rules have officially taken effect.

As time goes by, the needs of a company and the needs of the participants evolve, and a plan may need to be amended to keep up with those changes. This is a good time of year to review plan provisions and determine if any changes are needed before the next plan year....

As situations arise during the plan year, it’s always better to double check the plan provisions rather than address a plan failure after the fact. In some situations, it’s easier to ask for forgiveness rather than permission, but that isn’t true in retirement plans....

The Employee Retirement Income Security Act (ERISA) requires coverage to protect the plan from losses due to fraud and dishonesty. There are three main types of bond coverage for retirement plans: fidelity bonds, fiduciary liability insurance, and cyber liability...

Defined Contribution plans: Form 5500 news! Effective for plan years beginning on or after January 1, 2023, the determination of a large or small plan will be based on the number of participants with an account balance as of the beginning of the year, rather than the...