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Hardship Distributions from 401(k) Plans

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It's four o'clock on Friday afternoon and there's a knock on the door of the Human Resource Manager's office. It's Zachary, a fairly new employee who entered the company's 401(k) plan last month. He's been deferring $40 a week into the plan, which means he has accumulated $160 by now.
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| Categories: Articles | Tags: plan loan, hardship distribution, participant, employee deferral accounts, employer funded accounts, documents, 401(k), IRS, QMAC, QNEC, safe harbor

The Ultimate Plan Sponsor Checklist

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While they don't have a book called Retirement Plan Sponsorship for Dummies, they should. So in the interim, here is a checklist that plan sponsors should review that can help them develop good practices and avoid unnecessary liability in their stewardship of retirement plans for their employees.
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| Categories: Articles | Tags: IPS, 401(k), Department of Labor, ERISA, documents, SPD, Form 5500
It's time again to participate in that never ending ritual of qualified retirement plan restatements. As legislation affecting retirement plans is enacted, the Internal Revenue Service (IRS) requires all plan sponsors to restate or "rewrite" their plans to conform to current law.
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| Categories: Articles | Tags: PPA, IRS, 401(k), plan documents, restatement, DOMA

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