IRS Releases Additional Guidance on CARES Act
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Annemarie Keehn has worked for over 30 years in the field of Defined Contribution Plan Administration. She graduated from Indiana University with a Bachelor of Science in Business Management. Anne joined RMS as an Account Executive in 2007. Her areas of expertise include qualified retirement plan administration and consulting, plan document underwriting, and compliance. She focuses the majority of her time at RMS on new client implementation and onboarding as well as assisting with marketing and new business initiatives. She also maintains the plan document used by the firm and performs special research projects. Anne has been awarded the designations of Qualified 401(k) Administrator and Qualified Pension Administrator from the American Society of Pension Professionals & Actuaries and has been approved by the Internal Revenue Service as an Enrolled Retirement Plan Agent.
Many retirement plans are written using Internal Revenue Service (IRS) preapproved documents, known as master and prototype or volume submitter plans.
The Coronavirus, Aid, Relief and Economic Security (CARES) Act includes a number of provisions intended to help retirement plan participants who have been impacted by the pandemic.
Frequently Asked Questions on Safe Harbor Suspension
Employers who start a new plan or add auto enrollment to an existing or new plan are eligible for tax credits to help offset the expense of the plan.
Section 113 of the SECURE Act amends the tax laws to allow employees to take a penalty-free withdrawal for qualified birth or adoption expenses.
The SECURE Act eliminates the notice requirement for Safe Harbor nonelective contributions and extends the deadline for an employer to elect safe harbor status.
Under the SECURE Act, the required age for Required Minimum Distributions to begin has been extended and the restriction on individuals over age 70 ½ making IRA contributions has been eliminated.
The SECURE Act contains significant changes to tax-qualified retirement plans. This article looks in detail at one provision that would require coverage of part-time employees.
The SECURE Act was passed on December 20, 2019. RMS has compiled a summary of the different provisions in the Act.
The SECURE Act was approved by the House on May 23rd. It will now move to the Senate and compared or possibly reconciled with RESA. We compare the main provisions of each act in this chart.
Understanding fiduciary liability insurance vs. fidelity bond coverage.
A Cash Balance Plan can be a great way for a business owner to catch up on delayed savings by making larger contributions than what is allowed in a traditional profit sharing plan.
Plan fiduciaries need to prudently select the Target Date Fund offered in the Plan. The DOL has created a tip sheet about Target Date Funds.
IRS Ruling Addresses whether an employer contribution that is given to employees who make student loan repayments must be treated as a matching contribution.
What makes a Solo 401(k) plan different from a traditional 401(k) plan?
Recent changes to retirement plan provisions due to 2 new Tax Acts
For plan years beginning in 2019, the hardship withdrawal rules will change.
Why might an employer decide to switch from a SEP to 401(k)? This article describes the enhanced plan features available in a 401(k) plan.
This article explains the many reasons an employer may want to sponsor a 401(k) plan instead of a Simple IRA.
Discretionary profit sharing contributions can come in many “flavors”.
Retaining important plan information is critical. ERISA requires that some records be kept for a six-year period, while other records must be kept indefinitely.
Advisors with in-depth knowledge of retirement plans who partner with a TPA are more successful at growing their retirement plan business.
A new Act recently signed into law modifies the tax filing deadline for certain business tax returns and the Form 5500.
Employers whose plans are insufficiently bonded may receive a citation from the DOL.
Asking the right questions can make all the difference in plan administration.
A list of questions to ask a plan sponsor to open the door for a discussion about retirement plan services.
The IRS has issued modified rules on how to correct deferral errors in 401k plans.
What to expect when moving the retirement plan assets and records to a new recordkeeper.
Make sure the potential new recordkeeper is a good fit for the plan and the employer by asking these questions BEFORE the decision is made to transfer the plan’s administration.
Recent IRS guidance provides details on amendment requirements and the effect of the Windsor decision on retirement plans.
You may recall that in 2012, plan sponsors were required by the Department of Labor (DOL) to provide to plan participants a notice that disclosed detailed investment information for the plan.
The U.S. Supreme Court recently declared that Section 3 of the Defense of Marriage Act, which was signed into law by President Clinton in 1996, is unconstitutional because it denies equal...
When participants who are not fully-vested in their company contribution accounts terminate employment, their non-vested monies are usually moved into a forfeiture account.
The newly signed American Taxpayer Relief Act of 2012 (the “Act”) makes an important change to employer-sponsored retirement plans.
What is a Domestic Relations Order (DRO)?
Plan Administrators who are appointed to engage service providers must understand that they bear the final responsibility
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