Written by: Jeff Feld, CPA and Principal Taking a loan from your 401(k) retirement plan may seem like an attractive option because you are borrowing from yourself. However, a closer look exposes the potential drawbacks and hidden costs associated with this decision....
Loan Repayment
Potential Enhancements Coming Soon to the Voluntary Fiduciary Correction Program
The Voluntary Fiduciary Correction Program (VFCP) allows plan sponsors and other responsible fiduciaries to voluntarily self-correct 19 specific prohibited transactions that violate the Employee Retirement Income Security Act (ERISA) without incurring a penalty....