Considering a Traditional Safe Harbor Retirement Plan?

~ RPAG

It may be advantageous for a plan sponsor to consider adopting a traditional safe harbor design for their retirement plan. Adopting a safe harbor retirement plan design permits an employer to essentially avoid discrimination testing (the testing is deemed met). Remember, this testing limits highly compensated employees’ contributions based upon non-highly compensated employees’ contributions. By … Continue reading Considering a Traditional Safe Harbor Retirement Plan?

Is Your Turnover Rate Routine? What You Need to Know About Partial Plan Terminations

~ RPAG

A partial plan termination is presumed by the IRS to occur when 20 percent or more of a company’s employees are no longer eligible to participate in the plan in a determined span of time (typically one plan year, but it can be other spans of time based on facts and circumstances). Routine turnover during … Continue reading Is Your Turnover Rate Routine? What You Need to Know About Partial Plan Terminations

Tips for Preventing Uncashed Retirement Checks

~ RPAG

Managing uncashed retirement checks may be considered a nuisance by plan administrators. Nevertheless, the employer still has fiduciary responsibility when a former employee fails to cash their distribution. Search efforts to locate a missing plan participant consume time and money and may fail to locate the participant. Likewise, going through the process of turning over … Continue reading Tips for Preventing Uncashed Retirement Checks

Too Many Choices: How Many Investment Options Should You Offer?

~ RPAG

Many plan providers struggle with deciding how many investment options to offer in their retirement plans. While people generally like to have lots of options when making other decisions, having too many plan options can potentially lead to poor investment decisions by plan participants. In addition, increasing plan options can also increase plan costs, as … Continue reading Too Many Choices: How Many Investment Options Should You Offer?

Participant Memo: Take Advantage of Your Company’s Retirement Plan Matching Program

~ RPAG

Over 40 percent of employers now offer at least a small retirement plan match to employees, who can help manage their financial wellness by taking advantage of this offer. Even if your employer only matches a small percentage, you’re losing money by not participating. But before you sign up for your company’s retirement plan, it’s … Continue reading Participant Memo: Take Advantage of Your Company’s Retirement Plan Matching Program