by David Gensler | Oct 24, 2023 | article
In general, if the number of participants at the beginning of the year is at least 100, any qualified retirement plan covered under ERISA is required to have an annual audit done along with the annual Form 5500 filing. That limit is increased to 120 participants...
by David Gensler | Oct 10, 2023 | article
Payroll providers promise that if you use their 401k program, they will submit the contributions each payroll period and they’ll send enrollment packets to eligible new employees. Also, they will approve any loans and distributions. You don’t have to do anything! What...
by David Gensler | May 30, 2023 | article
“David, it’s Beth. I just brought a few of our consultants on as full-time hires. They’re in their 50s—a bit older than our typical new employees—and since they’ll only have so many years to contribute into our retirement plan, I was wondering if…” “What you’re asking...
by David Gensler | May 23, 2023 | 401(k) plans, article
Kareem called me from the HR department of a client company. “Hi David. What happens when a new employee doesn’t formally opt in or out of the retirement plan? I’m not sure what to do with them.” “Great question, Kareem, and a timely one. Starting this year, if you...
by David Gensler | May 16, 2023 | 401(k), article
“David, I read your blog post about state-mandated IRA programs, and how it makes sense to set-up your own retirement plan and not use the government’s.” “Thanks Jeff. I’m always happy to hear from someone who’s doing their homework and trying to stay on top of what’s...
by David Gensler | May 9, 2023 | article, retirement plans
Shannon was referred to me by a client. “I’m starting up a new business venture and Kim told me you could help set up the retirement plan.” “Hi Shannon,” I said. “You’re going to like the good news I have for you. Thanks to a new set of changes in the rules called...
