Archive by tag: employeeReturn

Part-Time Employees in 401(k) Plans

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Part-time employees may play an important role in your business, which can be a good thing for your bottom line - and can allow welcome flexibility for your employees, too. Many companies, from manufacturing to healthcare, are reaping the benefits of a multifaceted workforce.
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| Categories: Articles | Tags: 401(k), employee, benefits

Determining Retirement Plan Compensation

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It might not surprise you to hear that the IRS has some fairly complicated rules governing compensation levels and retirement plan contributions. In fact, the IRS reports that a good number of plan sponsors get this key issue wrong - a mistake that can cost both time and money.
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| Categories: Articles | Tags: IRS, compensation, employee, HR

Year-End Compliance Testing Overview

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IntroductionEmployee Census Data CollectionOwners and OfficersHighly Compensated Employees (HCEs)Key EmployeesRelated BusinessesRequired Plan TestingMinimum Coverage TestAverage Deferral Percentage (ADP) and Average Contribution Percentage (ACP) TestsTop Heavy TestAnnual Additions TestConclusion2015 IRS and Social Security Annual Limits The end of the calendar year is fast approaching which means the plan year end for many qualified plans. It will be time for plan sponsors to collect complete em...
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| Categories: Articles | Tags: ADP, ACP, HCE, key employee, IRS, Social Security

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
A boomerang employee (as we will use that name in this article) is, quite simply, one who leaves and then comes back to work…a rehire.
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| Categories: Articles | Tags: boomerang employee, rehire
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