…free to employees who participate in Employee Retirement Income Security Act (ERISA)-covered retirement plans or health benefit plans; it is designed to detail what benefits the plan offers and how the plan works. An SMM explains changes and amendments to an SPD. Tightening up the…
…these problems – most of which a third-party administrator can address – but those which will remain one of your chores? Designing a plan smartly – and sticking with it – is of course the top priority. Doing so in a way that avoids doing…
…As such, it can make decisions about PEPs as outlined under the SECURE Act, although participating employers or another designated third party can also be assigned those duties. (PEPs, incidentally, will be available starting January 1, 2021.) The PEP provisions, in turn, require that each…
We’re excited to introduce you to the all new Pentegra OnLine Participant Portal! The newly designed website offers: Easy to use features and menus Streamlined navigation Device responsive access A new Retirement Income Optimizer Tool…
…with an annual lifetime income disclosure, which is designed to illustrate how the participant’s account balance can be converted into an income stream at retirement. Included in the lifetime income disclosure statement are: The account balance; date of starting payments; age at which the annuity…
…and other entities as a means of helping plan sponsors and participants navigate the pandemic. One in particular relates to Form 5500, developed jointly by the DOL, IRS and the Pension Benefit Guaranty Corporation (PBGC), designed to ensure that employee benefit plans can satisfy the…
…– SEP, PEP, GoP, or MEP – outsourcing fiduciary duty to a reputable third party can save time, money and hassle. A third-party administrator (TPA) is, by design, someone who can keep track of all of the regulations, deadlines, changes, and other ins and outs…
…also improve through lower cost turnkey programs specifically designed for small business which, in total, we estimate can unlock an additional $5 trillion in retirement assets. $5 trillion is certainly nothing to sneeze at … especially as the nation’s retirement savings figures continue to be…
…avoid errors. Outsourcing responsibility by engaging an independent fiduciary also helps plan sponsors design a more effective plan that is compliant and easy to administer. Providing these and other valuable fiduciary services give plan sponsors more time to run their business. Oh, and we have…
…benefit plans – primarily those designed to implement provisions in the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The window for comments recently closed on November 1st. At the same time, EBSA published a notice of proposed changes to its implementing regulations under…
…to make a profit sharing contribution on behalf of participants for 2021, participants can only make pre-tax employee salary deferrals and designated Roth contributions prospectively—meaning after they execute valid salary deferral elections for compensation yet to be received in 2022. Retirement plan availability and coverage…
…(PTO) policies. We Can Help These are just some of the ways employers can help recruit and retain the high-quality employees that their companies depend upon. Pentegra is here to help. Contact us at 800-872-3473 to learn more about plan redesign and benefit enhancement options….