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IRS Issues Additional Pandemic Relief

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IRS Issues Additional Pandemic Relief
On June 29, 2020, the IRS issued Notice 2020-52 in response to the COVID-19 pandemic providing welcome relief to plan sponsors who are considering suspending safe harbor contributions and also to those who may already have regardless of whether the employer is suffering an economic loss. The notice is significant in that it permits employers who sponsor 401(k) plans to reduce or suspend their safe harbor contributions and redirect those funds to other, more urgent needs. However, plan spons...
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Electronic Delivery Could Save Billions

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Electronic Delivery Could Save Billions
On May 21, 2020, the U.S. Department of Labor and the Employee Benefits Security Administration (EBSA) announced the publication of a final rule that will allow employers to communicate the required retirement plan disclosures and other plan information electronically. The rule finishes a 2018 DOL initiative aimed at reducing administrative burdens and costs associated with the delivery of retirement plan disclosures. EBSA projects that electronic delivery could save retirement plan sponsor...
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Alliance has acquired Reed-Ramsey, Inc.

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Alliance has acquired Reed-Ramsey, Inc.
Deerfield, IL. -- Alliance Pension Consultants, LLC (Alliance) has acquired Reed-Ramsey, Inc., a pioneer in the retirement plan industry that has been providing recordkeeping, actuarial, compliance and human resources consulting to corporations since 1940. Reed-Ramsey, headquartered in Oak Brook, IL, has been consistently chosen by employers striving to optimize their resources.Robert Reed, President, and Reed-Ramsey’s team of administrators (each with over 20 years of experience) wil...
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Understanding the CARES Act

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Understanding the CARES Act
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic, was signed into law. Besides the generalized financial relief afforded to individuals, as well as loans and other concessions for businesses, the bill includes the following provisions to help participants and employer sponsors of retirement plans.Coronavirus-Related DistributionsThe bill permits “coronavirus-relat...
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CARES Act Frequently Asked Questions

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CARES Act Frequently Asked Questions
Below are a few short Q & A topics that you may find relevant. These are intended to be a guide and should not be construed as specific advice relative to your plan. Of course, we welcome you to contact us to discuss your specific situation.Changes Related to Employer ContributionsChanges Related to DistributionsChanges Related to Loans Q & A – Changes Related to Employer Contributions Q1.  Has the IRS extended the deadline for 2019 employer contributions?A1.  N...
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