Fenner, Melstrom & Dooling, PLC’s Post

For HCEs, a 401(k) plan sometimes falls short in providing adequate retirement income. NQDC plans offer an alternative solution, allowing for pre-tax income deferral beyond the limits set by qualified plans. In this article, Meghan Marie Hannon, CRPS®, explores the advantages and intricacies of NQDC plans and how implementation can round out a company’s employee benefit offerings.

Plan sponsors, watch out for changes to retirement plan eligibility and Form 5500 reporting caused by the SECURE Act. 401(k) plan eligibility is expanded to include long-term, part-time employees, complicating reporting requirements. Ensure you're in compliance with these shifts to avoid penalties and audit issues:  https://lnkd.in/eVU_RYy9 Need assistance navigating these changes? Visit Ryan & Wetmore for guidance: https://lnkd.in/dDuESknf   #RetirementPlanning #SECUREAct #IRSForm5500 #RyanAndWetmore #ComplianceSupport

Today, employees are more likely than ever to seek new employment opportunities and change jobs. These employees may leave a company before becoming fully vested in their qualified retirement plan benefits – which may result in forfeiture of their unvested benefits. What is a retirement plan sponsor supposed to do with the forfeited amount? More importantly, what is the plan sponsor allowed to do with these forfeited amounts? John Fogerty and Betsy Olson of Faegre Drinker in JD Supra write that this is an important question, as the use of forfeitures can raise compliance questions under both ERISA and the Internal Revenue Code requirements for qualified retirement plans. Their position can be found here: https://lnkd.in/ekrtQAxe #compliance #erisa #irs #plansponsors #retirementplans

This open enrollment benefits season finds fewer than half of employees with a better outlook for their retirement savings than last year, but that is not prompting them to reconsider contributions. https://lnkd.in/dt5PGDy5 #openenrollment #benefit #srpretirementgeeks

Today, employees are more likely than ever to seek new employment opportunities and change jobs. These employees may leave a company before becoming fully vested in their qualified retirement plan benefits — which may result in forfeiture of their unvested benefits. What is a retirement plan sponsor supposed to do with the forfeited amount? More importantly, what is the plan sponsor *allowed* to do with these forfeited amounts? Betsy Olson and John Fogarty, Esq. unpack these questions and more in this post for our “Spotlight on Benefits” blog.

[RELEASE] Mercer Wise 401(k) and Mercer Wise Pooled Employer Plan surpass $3.5 billion in US plan assets under management (AUM). These outsourced retirement plan solutions seek to improve participant outcomes while reducing plan sponsors’ administrative duties and fiduciary risk. Our research highlights that long-term financial security, focused on the ability to retire, remains one of American employees’ top concerns, and retirement benefits are among the top three reasons employees stay with their organization. #retirement #investing

[RELEASE] Mercer Wise 401(k) and Mercer Wise Pooled Employer Plan surpass $3.5 billion in US plan assets under management (AUM). These outsourced retirement plan solutions seek to improve participant outcomes while reducing plan sponsors’ administrative duties and fiduciary risk. Our research highlights that long-term financial security, focused on the ability to retire, remains one of American employees’ top concerns, and retirement benefits are among the top three reasons employees stay with their organization. #retirement #investing

Featured In This Week’s Advisor News - Public sector DC balances and contributions growing. The Public Retirement Research Lab, a collaborative effort of the Employee Benefit Research Institute and the National Association of Government Defined Contribution Administrators, published a new research report today detailing a longitudinal analysis of 1.1 million public-sector defined contribution retirement plan participants which found steady growth in account balances and dollar contributions. https://lnkd.in/dAu4HKcG #AdvisorNews #PRRL #publicsector #definedcontribution #401k #news #personalfinance #plandesign #benefits #employer #EBRI Employee Benefit Research Institute NAGDCA Matthew Petersen Susan Rupe AdvisorNews

Pensions & Investments covers our latest research that looks at the workforce impacts when Rhode Island moved employees from pensions to hybrid retirement plans. https://ow.ly/AsP950QP2iy #retirement

[RELEASE] Mercer Wise 401(k) and Mercer Wise Pooled Employer Plan surpass $3.5 billion in US plan assets under management (AUM). These outsourced retirement plan solutions seek to improve participant outcomes while reducing plan sponsors’ administrative duties and fiduciary risk. Our research highlights that long-term financial security, focused on the ability to retire, remains one of American employees’ top concerns, and retirement benefits are among the top three reasons employees stay with their organization. #retirement #investing