Employeefiduciary.com

401(k) Nondiscrimination Testing

401(k) nondiscrimination tests must be passed to demonstrate that annual contributions do not impermissibly discriminate in favor of HCEs. For 2024, an HCE … See more

Actived: 6 days ago

URL: https://www.employeefiduciary.com/blog/401k-nondiscrimination-testing-basics

The 401(k) Form 5500 – Frequently Asked Questions (FAQ)

WebForm 5500-EZ – Only “ solo 401 (k) plans ” – which just cover a business owner and their spouse – can file this return. Solo 401 (k) plans with less than $250,000 …

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401(k) Plan Coverage Testing – What Employers Need to …

WebTo retain their tax-qualified status, 401(k) plans must undergo extensive IRS testing each year to prove they don’t discriminate in favor of Highly-Compensated …

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401(k) Plan Compensation – What Employers Need to Know

WebAll 401 (k) plans must define the compensation that the employer will use to allocate plan contributions to participants (“plan compensation”). When defining plan …

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Is Your Company Part of a Controlled Group

WebYou Need to Know or Risk 401 (k) Plan Disqualification. When two or more companies comprise a controlled group, they are considered a single employer for 401 …

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401(k) Fiduciary Liability Insurance – Factors that Raise …

WebRecently, Aon - one of the world’s largest providers of risk management, retirement, and health services - surveyed top insurance companies about that question. …

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401(k) Participant Disclosures

WebDisclosures that must be distributed by all participant-directed 401 (k) plans. Summary Plan Description (SPD) – Summarizes the major provisions of the governing …

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The Benefits of a 401(k) Plan for Employers and Employees

WebTop 401 (k) Benefits for Employers. While 401 (k) plans are primarily intended to help employees prepare for retirement, they can also offer compelling employer …

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A Simple Guide for Meeting 401(k) Fiduciary Responsibilities

WebOver the past decade, several high-profile 401(k) fee lawsuits and DOL efforts to implement a fiduciary standard for professional investment advice have put …

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Bundled or Unbundled 401(k) Provider – How to Choose

Web401(k) providers can deliver either "bundled" or "unbundled" plan administration services. A bundled (or “full-service”) provider delivers all three of the …

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Switching 401(k) Providers

WebWhen switching 401 (k) providers, it’s usually best practice to send all plan contributions to your outgoing 401 (k) provider until your plan’s “blackout” period starts. …

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SECURE Act 2.0 – A Summary of the Major 401(k) Provisions

WebThe SECURE 2.0 Act of 2022 (SECURE 2.0) became law on December 29, 2022. The new law makes sweeping changes to 401 (k) plans – particularly plans …

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How to Find & Calculate Transamerica 401(k) Fees

WebTo calculate your per-capita administration fees, simply divide the administration fee total from your spreadsheet by the number of participants in your plan. …

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Enrolling in a 401(k) Plan – How to Make Informed Decisions

WebStep 1 - Understand the Benefits of a 401 (k) Plan. Participating in a 401 (k) plan offers several benefits that can positively impact your financial security. Some …

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Pooled Employer 401(k) Plans (PEPs): Myth vs. Reality

WebMyth #2 – PEPs Lower 401 (k) Fiduciary Liability. All 401 (k) plans – regardless of their pooled or single-employer status - have the same basic fiduciary …

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401(k) Long-Term, Part Time Rules – What Employers Need to Know

WebThe LTPT rules take effect January 1, 2024. They are complicated. Employers with part-time employees need to prepare now. The LTPT rules will only affect 401 (k) …

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401(k) Distributions

Web401 (k) plans have two options for defining an “immediate and heavy financial need:” 1) use the IRS safe harbor definition, or 2) use a custom definition. Most …

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How to Find & Calculate Fidelity 401(k) Fees

WebStep 1 – Gather All the Necessary Documents. To calculate your Fidelity 401 (k) fees, the only document you’ll need is their 408 (b) (2) fee disclosure - what Fidelity …

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Deadlines for 401(k) Adoption – Including SECURE 2.0 Changes

WebThe SECURE Act of 2019 (SECURE) and SECURE Act of 2022 (SECURE 2.0) made sweeping changes to 401(k) plans – particularly plans sponsored by small …

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401(k) Plans for Small Businesses Employee Fiduciary

WebThe secret to a faster retirement is a cost-efficient 401 (k) plan that makes appropriate investing simple for participants. No 401 (k) provider makes it easier for small and …

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Is Your Company Part of an Affiliated Service Group

WebWhen two or more businesses are members of an affiliated service group (ASG), they are considered a single employer for 401(k) plan purposes. Like the …

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How to Find & Calculate VOYA 401(k) Fees

WebTo calculate your per-capita administration fees, simply divide the administration fee total from your spreadsheet by the number of participants in your plan. …

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