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School of Institutional Plans

IRS Provides Guidelines for Safe-Harbor Hardship Distributions from 401(k) Plans

In its March 2, 2017 Employee Plan News publication, the IRS included their memorandum providing guidelines for examiners to determine if a section 401(k) plan hardship distribution is “deemed to be on account of an immediate and heavy financial need” under the safe-harbor standards. These guidelines included “Attachment I” detailing the information and source documents […]

2017 Retirement Plan Limits

The retirement plan contribution and related limits for 2017 can be found at: CLICK HERE FOR CHART

Upcoming Retirement Plan Deadlines

To keep their retirement plans compliant, Plan Sponsors need to make sure they meet all the deadlines imposed by the IRS and Department of Labor. Employer HR and Benefit Departments are typically busy during the 4th quarter of each calendar year with annual group benefit enrollments and may forget about important deadlines for their retirement […]

Spotting Credit Trouble

Almost half of American households carry a balance on their credit cards, and the average debt totals $15,263. The wise use of credit is a critical skill in today’s world. Used unwisely, credit can rapidly turn from a useful tool to a crippling burden. There are a number of warning signs that you may be […]

Need to Find Missing Participants in Your Qualified Plan?

The IRS use to provide a letter-forwarding service to help Plan Sponsors locate participants for whom they don’t have a current address. As a cost cutting measure, starting September 1, 2012, the IRS discontinued processing requests to locate missing participants. Since that time, Plan Sponsors, third-party-administrators, and related service providers have been using a variety […]

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