… WHAT ARE THE ANNUAL LIMITATIONS FOR 2018? 2018 Limitations 2017 Limitations Defined Benefit Dollar Maximum $220,000 $215,000 Annual Addition Dollar Maximum $55,000 $54,000 Employee 401(k)/403(b)/457 Contributions $18,500 $18,000 Catch-up Contributions (Age 50 or older) $6,000 $6,000 Highly Compensated Employee Threshold $120,000 $120,000 Annual Compensation…
…of the employees of potential adopters and simple enough to be user-friendly to employee groups of widely varying investment sophistication. Why else would my company want to become an adopting employer? MEPs are an ideal retirement plan solution in many situations, particularly where fiduciary liability…
A blog by Richard Rausser, CPC, QPA, QKA, Senior Vice President – July 29, 2014 The 401(k) savings plan has been a godsend for employers and employees alike. It has also been a boon to a seemingly endless universe of companies that offer such plans…
…states to create state-sponsored retirement programs. Hopefully similar guidance by means of legislation or otherwise will be made available to the private sector. Easier enrollment. Automatic employee enrollment in a retirement plan – and annual auto-escalation — take away a lot the angst felt by…
…associations can offer its employees a solid retirement plan, much like the better-known 401(k) … in effect, taking care of people within their organization while simultaneously continuing on their philanthropic mission. Associations of 403(b) sponsors come together with a sense of community. Non-profit employers are…
“Save early, save often” is our much-repeated mantra when it comes to constructing a sound retirement savings strategy. Prudent employees maximize their contributions to their company’s 401(k) plan, especially when it comes to taking full advantage of their employer’s matching funds. But what to do…
…current fiduciary law and the country’s options with respect to standards of care, see my paper “Blueprint for a Universal Fiduciary Standard of Care in the U.S. Financial Services Industry,” published in the New York University Review of Employee Benefits and Executive Compensation in 2017….
…currently provide for loans amend the plan so that it does – in order to further help its employees weather this storm? We say absolutely, yes. The spirit of the law is to make it easy for plan sponsors to get money into the hands…
How much is too much? Recent Employee Retirement Income Security Act (ERISA)-related lawsuits have made the question “top of mind” for many in our industry. In one case, the Trader Joe’s grocery chain has been charged with “breaching its ERISA fiduciary duties in the management,…
…and the American Retirement Association sent a letter to Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA) Preston Rutledge underscoring the benefits of electronic delivery and other findings in their joint 2018 report, “Why the Time Has Come to Prefer Electronic Delivery,”…
…– about hardships, the sponsor is required to gather a great deal of documentation to support the participant’s statements about their hardship situation. Obviously it can be uncomfortable getting into an employee’s personal life: reviewing their finances – including receipts – as well as the…