by Taylor Johnson | Feb 15, 2021 | Plan Administration
As a plan administrator, it’s important to regularly evaluate your retirement plan. You want to make sure it’s providing the resources you and your employees need to effectively save for retirement. Not sure where to start? Here are 3 steps you can take to make sure...
by Taylor Johnson | Dec 9, 2020 | Plan Administration
If you’re a retirement plan administrator, you need to know the roles and responsibilities of a fiduciary.So what is a fiduciary? Are you one? Is your service provider the fiduciary? Are you both fiduciaries together? It is crucial to know your role in all of...
by Taylor Johnson | Nov 12, 2020 | Plan Administration
Will Your Retirement Plan Be Audited?Back in 1995, the IRS and Department of Labor (DOL) found many opportunities to fine 403(b) plans inside of non-profit hospitals. Since they found so many hospital plans out of compliance, they began to move on to school districts....
by Taylor Johnson | Aug 20, 2020 | Plan Administration, Plan Participation
What is Housing AllowanceWhen an ordained, licensed, or commissioned minister receives a portion of their compensation as housing allowance, that portion is excluded from gross income and therefore not subject to federal income tax. This can represent substantial tax...
by Taylor Johnson | Apr 17, 2020 | Plan Administration
The IRS 403(b) regulations require that Plan Sponsors provide oversight and be actively engaged in the plan’s operation and delivery. In order to operate and maintain a plan, you must follow the terms of the plan.One of the key themes behind the Internal Revenue Code...
by Taylor Johnson | Aug 7, 2019 | Plan Administration
Retirement Plan compliance is critical.Compliance for retirement plans is a moving target. As changes in the law occur, retirement plans are required to comply in both form and function with the new provisions as of the effective date of the law. Two governing...
