For some time, employers have been asking the IRS to allow them to make certain 401(k) changes during the middle of the plan year without violating the federal tax code. Now the agency has responded to those requests.
Being a benefit plan fiduciary is a tricky role to play nowadays. Here’s some guidance you may want to share with your C-level folks.
You know those complex fee-disclosure statements you have to make sure your employees get regarding their 401k plans? If the DOL has its way, workers may have to get the same type of info about their health insurance.
Here’s another reason why employers should limit (or even eliminate altogether) workers’ opportunities for 401(k) hardship withdrawals.
Gotta give Tyrel Oates credit. He’s taken a unique approach to increasing his salary — he wants all his co-workers to get a raise, too. All 300,000 of them.
HR pros will want to keep a close eye on a 401k lawsuit the High Court just agreed to take up — because depending on how this unfolds, employees may have even more power to come after their employers for charging excessive plan fees.
One might assume that a leading retirement plan provider would operate an impeccable retirement program for its employees. In this case, that assumption would be mistaken.
Despite the fact auto features are proven to bolster workers’ 401k participation/contribution rates, some firms aren’t sold on these features.
Few things strike fear in employers’ hearts like a DOL audit. After all, most of the feds’ investigations result in firms shelling out serious cash in fines or settlements or both.
