Tag: safe harbor

Do You Send Participant Notices via Email? Should you?

September 26, 2017

The number of notices and disclosures required to retirement plan participants has increased while methods to access information changed drastically. Many people receive their news and information on electronic devices through apps and social media. What remains the same is the Department of Labor’s (DOL’s) guidance about permissible methods to provide notices electronically. There is … More Do You Send Participant Notices via Email? Should you?

Considering a Safe Harbor Retirement Plan

January 4, 2017

It may be advantageous for a plan sponsor to consider adopting a 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 making … More Considering a Safe Harbor Retirement Plan

Safe Harbor, Regulations

Improper Handling of Hardship Distributions May Result in Significant Problems

August 7, 2015

These days, many plans are experiencing an uptick in the number of participant requests for hardship distributions. Much of this increased activity may be attributed to our prolonged and tepid economic recovery. As these requests are considered, you want to be sure not to act to the detriment of your plan. Improper handling of hardship … More Improper Handling of Hardship Distributions May Result in Significant Problems