The SECURE 2.0 Act raises the age from 72 to 73 when individuals must begin taking RMDs from their retirement accounts. Reduced penalties include: Failure to take an RMD is reduced from 50% to 25% The penalty is further reduced to 10% if a failure is corrected SECURE...
It is with great pride and excitement that we announce Bobby Loeb has been promoted to Principal. A role like this isn’t simply bestowed—it’s earned. Bobby’s commitment to Alliance, striving for excellence in everything we do, has helped our clients solve problems and achieve goals.
When it comes to helping a client design and manage a successful retirement plan, he’s a true expert. We asked him about his industry perspective and experience working with Alliance.
Donna Rebeck, MBA, CPA, CAE, Vice President, Finance & Operations National Automatic Merchandising Association (NAMA) Offices in Chicago, ILDonna Rebeck is responsible for accounting functions, payroll and insurance, as well as the association’s pension and 401(k) related matters. We asked her about the association’s retirement plans and their experience working with Alliance Pension.A Little BackgroundNAMA was founded in 1936 and represents the interests of more than 1,100 member…
Proper handling of employee 401(k) deferral contributions and loan repayments is one of the most important responsibilities a plan sponsor undertakes. Failure to timely deposit employee deferrals and participant loan repayments is considered by many service providers...
On December 27, 2020, the Consolidated Appropriations Act, 2021 was signed into law. The Act combines the $1.4 trillion omnibus federal spending package for the 2021 fiscal year and a $900 billion COVID-19 stimulus package that enhances and expands certain provisions...
With so much discussion surrounding the CARES Act, it is easy to forget that 2019 brought us some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006. This legislation came to us by virtue of The Setting Every...
Approximately every six years, the IRS requires that pre-approved qualified retirement plans update (or restate) their plan document to reflect recent legislative and regulatory changes. Plan restatements are divided into staggered six-year cycles depending on the...
As the end of the year approaches, our to-do lists become longer but our bandwidth becomes condensed. To compound matters, when you sponsor a retirement plan, you know you will be in close contact with your TPA firm about the various year-end notices that must be...
1st December 2020 Participant Notices – Annual notices due for safe harbor elections, Qualified Default Investment Alternatives (QDIA), and Automatic Contribution Arrangements (EACA or QACA).31st December 2020 ADP/ACP Corrections – Deadline for a plan to make ADP/ACP...