Technical Facts
Long-Term Part-Time Employees in 401(k)
The SECURE Act provided a timeline to allow certain previously exempt employees access to defer into a 401(k) plan.
Notice Requirements for ERISA Plans
Distribution/Timing Requirements - For any participant directed 401(k) and ERISA 403(b) plans
Plan Limits & Cost of Living Adjustments
Plans Limits may fluctuate annually for Cost of Living Adjustments made by the IRS
Important Due Dates
It is imperative that one be aware of essential due dates associated with employee contributions, deduction deadlines, and tax filings
Tax Credit for Plan Startup Costs
The SECURE Act has provided sizable tax credits to plans established for tax years after 2019
Automatic Enrollment
Automatic enrollment allows an employer to automatically deduct elective deferrals from an employee’s wages unless the employee makes an election not to contribute or to contribute a diffferent amount. Any plan that allows elective salary deferrals (such as a 401(k) or SIMPLE IRA plan) can have this feature.