Employers who requested an extension for their 2020 tax return may want to consider retroactive retirement plan adoption to offset their 2020 tax liability. For those who have already filed, keep this planning technique in mind for future years.
Up to 1 in 5 job changes results in a missing participant; the DOL has issued guidance that addresses the fiduciary responsibilities of plan sponsors related to these plan participants and beneficiaries.
Plan sponsors must understand and comply with hardship distribution changes in both operations and plan documents before 12/31/21.
Plan sponsors should work with service providers to ensure that CARES Act loans errors as a result of provisions in the Act expiring are crorrected, or take advantage of federal self-correcting programs.
Answers to some of the most common employee benefit plan sponsor FAQs since passage of the CARES Act.