A “gotcha” can happen to small plans – those exempt from filing a Form 5500 for a certain year. To qualify, a plan must be both (a) entitled to use… read more →
Small retirement plans must submit annual financial returns to the IRS by using Form 5500-EZ. Generally, these plans cover only owners, partners, and their spouses. Technically, they are Non-Title I… read more →
For some pension plans, the cost of compliance just got more expensive. Background In 1974, the Pension Benefit Guaranty Corporation was created as a quasi-public organization as part of ERISA.… read more →
The IRS means business on plan compliance. Each year we take over the administration of a handful of retirement plans with significant compliance issues. Here is a sampling from just… read more →
The Principal Financial Well-Being Index for the third quarter of 2013 contains some interesting information about small to medium businesses. It was conducted nationwide during the first three weeks of… read more →
A common misconception is that defined benefit plans have become obsolete. Consider a statement from my fellow actuary, Mike Clark (Contingencies, Sep/Oct 2012, p. 42): “It’s been said that the… read more →
We still hear concern from employers and advisors concerning fully insured (412(e)) retirement plans. For a while, there was speculation that the IRS would take an active role in such… read more →
A common question among employers considering a 412(e) plan involves interest rates. Considering the stock market resurgence over the last few years, the low rate of return on fixed annuity… read more →
September is the end of the third quarter for employers whose fiscal year is the calendar year. We receive requests for new plans throughout the year, but it always spikes… read more →
Retirement plans use a trustee, who has certain duties and responsibility on behalf of the plan, its investments, and its participants. Sometimes the trust document is separate from the plan… read more →