The Internal Revenue Service (IRS) recently announced a significant development for higher paid employees participating in Roth retirement plans. Under the Secure Act 2.0, the IRS has postponed the implementation of mandatory Roth catch-up contributions. In this blog post, we aim to educate our customers about this postponement, its potential impact, and what it means […]
Employer-sponsored retirement plans, such as 401(k) plans, require careful administration to ensure compliance with regulations and smooth operation. Two key roles in the management of 401(k) plans are the Plan Administrator and the Third-Party Administrator (TPA). In this blog post, we will explore the responsibilities of these two positions and clarify the difference between them. […]
As retirement savings become increasingly important, many employers are choosing to implement auto-enrollment features in their 401(k) plans. Auto-enrollment is a valuable tool that encourages employees to save for retirement by automatically enrolling them in the plan unless they actively opt-out. While this feature has numerous benefits, the process of implementing and managing auto-enrollment in […]
The Major Pros and Cons of a Safe Harbor Plan A Safe Harbor Plan is a retirement savings option that can provide numerous benefits for both employers and employees. It is a type of 401(k) plan that includes certain features designed to encourage employee participation and make it easier for employers to meet nondiscrimination requirements. […]
Safe Harbor Auto Enrollment: What Is It, What Are the Different Plans, and What Are the Requirements? Auto enrollment is a feature offered in retirement plans that encourages employees to save for their future by automatically enrolling them in the plan. Safe Harbor Auto Enrollment takes this concept a step further by providing certain benefits […]
