As an employer, you are 100% responsible for ensuring that your employees’ 401k contributions are transferred to the plan trust. You must complete these transactions in a specified amount of time or risk a failure that could result in plan disqualification. The other issue that might arise is that you will need to do an […]
401ks and IRAs have continued to be popular accounts people use to plan for retirement. Both of these accounts provide tax advantages that can help to maximize long-term savings. Each year, the IRS makes changes to contribution limits, withdrawal requirements, and other aspects of the plans. There are various changes coming in 2023 that people […]
Here at Fiduciary Advisors LTD., we teach people about the responsibilities involved with administering a 401k plan. Many people do not realize that a lot of work goes into a project like this. They simply accept that someone will be there to help guide them through the intricacies of their plan, but they don’t necessarily […]
What is 180 and 360 payroll integration? 180 and 360 payroll integration integrate an organization’s payroll system with its human resources management (HRMS) or human capital management (HCM) system. This allows for a more seamless and automated experience for employees and employers when managing payroll and other HR-related tasks. Various organizations have different approaches to […]
Do 401k plans have trustees? Usually, the answer is yes. The trustee is responsible for holding and investing the assets of the 401k plan and ensuring that the plan complies with all applicable laws and regulations. There are two types of trustees: corporate trustees and individual trustees. Corporate trustees are usually banks or other financial […]
