Why Does Moving From A Defined Benefit to Defined Contribution Often Result in Benefit Cuts? Let’s assume that a defined contribution (DC) plan has been designed with the same level of employer contribution as a defined benefit (DB) plan the employer previously sponsored. A common […]
Nick Meggos Consulting Actuary
Plan Sponsors Must “Furnish” Summary Plan Descriptions (SPD) to Participants In today’s age, the push is being made by everyone to furnish communications electronically. For retirement plans that are subject to ERISA, communications may be furnished electronically as long as […]
Mary Bailey Administrator
Plan Sponsors Must Track Loans and Hardship Distributions The IRS has indicated in Employee Plans News 2015-4, that it is ultimately the plan sponsor’s responsibility to track loans and hardship distributions from their retirement plan(s). According to the […]
Beth Logan Administrator
Supreme Court Strengthens Plan Sponsors’ Duty to Monitor Investments On May 18, 2015, the Supreme Court (“Court”) ruled in Tibble v. Edison International that ERISA’s 6-year statute of limitations period had not passed for plaintiffs that were pursuing a […]
Eric Roberts Retirement Educator
IRS Updates Correction Program for Certain Failures Regarding Elective Deferrals The IRS has issued an update to the Employee Plans Compliance Resolution System (EPCRS), which is the IRS’ voluntary correction program. Revenue Procedure 2015-28 changes the correction method for failure […]
Craig Harrell Consultant and Principal
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