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Mid-year Projection Testing

Mid-year Projection Testing

For many plans who have been passing their required ADP/ACP tests for years, the thought of doing mid-year projections has been a thing of the past. However, 2020 has been totally different. Reductions in force, layoffs, reduced compensation, matches being reduced or...

2020 Plan Limits

2020 Plan Limits

We received very good news from the IRS regarding the 401(k) limits for 2020. The contribution limit for 401(k) and 403(b) plans increased to $19,500 and we also received an increase in the catch-up contribution to $6,500. Please refer to the table for a listing of...

Got HSA?

Got HSA?

As you are planning your benefits strategy for the upcoming renewal season, do you have a high deductible health plan (HDHP) with a health savings account (HSA) option?  There can be substantial tax benefits to the employer and the employee. These dollars are triple...

The difference between 321 and 338 fiduciary advisors

The difference between 321 and 338 fiduciary advisors

Is it surprising or scary that too many 401(k) advisors are still unfamiliar with ERISA terms like 3(38) and 3(21)? Probably both. In short the difference depends on how much liability you want to mitigate. 3(21) Co-Fiduciary – “Help me” Shared fiduciary liability...

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