The Secure Act makes more part time workers eligible to participate in 401(k) plans. However, many employees may not be able to take advantage of this provision until 2024. In general, under the new law, long-term part-time (LTPT) employees will be credited with all years of service that they worked 500 or more hours. This […]
Retirement is the ultimate goal of many people, but only some understand what’s required to stay on the right track. Even the most basic 401(k) plan can have requirements to meet to avoid late fees and even having to put off retirement dates. Keep reading to see if you have deadlines to meet in 2023 with […]
Retirement is something that all of us look forward to. For those that have a 401(k) plan, you may be familiar with a 401(k) Fiduciary. Knowing what this important professional does can help you determine if you need one or not. What does a 401(k) Fiduciary Do? A 401(k) fiduciary is someone that works to […]
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 […]
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 […]
