The breakneck pace of enacting and/or amending federal legislation and regulations in 2020 is back in full force with the passage of the American Rescue Plan (ARP) Act of 2021.
Everybody makes mistakes – that’s why the invented erasers,” goes the old saying. And while the Internal Revenue Service (IRS) may not enjoy an image of being cheerfully understanding of errors, it recently made some significant alterations to its Employee Plans Compliance Resolution System (EPCRS) Correction Program.
Being on the same page with your spouse about retirement is a goal worth pursuing, and right now may be a good time to discuss the future with each other. Expressing your retirement expectations early could allow you both to alter your savings strategy so you can align your retirement efforts with your goals
Although the worst of the pandemic is hopefully behind us, the lifestyle disruption it caused has created a monumental shift in how people work. This disruption has affected nearly every industry and has caused many individuals to take a step back and reevaluate what their career means to them. According to the Bureau of Labor Statistics, a record 4.4 million people quit their jobs in September of 2021 alone.
The Pentegra Benefits Financing Advantage is a benefit financing tool that uses BOLI to enhance earnings, restore existing retirement program shortfalls, and offset the costs of qualified retirement programs along with health and welfare and group life benefits.
Many financial organizations tout the benefits of their ERISA 3(16) fiduciary services and, frankly, many of these messages can sound irresistibly compelling. But buyer beware; not all 3(16) fiduciary services are created equal. In today’s increasingly litigious environment, it is imperative for plan sponsors to be educated consumers of 3(16) fiduciary services.
Newly released research has uncovered an unsurprising trend: The Covid-19 pandemic has affected many Americans’ approach to their retirement plans.
A recent survey from TIAA shows that nearly half of Americans are worried about running out of money in retirement – while the remainder say they are more concerned about running out of the time they deem necessary to do what they would like to do in their golden years.
Pentegra’s Retirement Plan Fiduciary services are designed to complement the unique value proposition and service delivery model that each advisor brings to the table. We tailor our solutions to meet your preferences.
In September, the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) jointly announced they were seeking public comments on proposed revisions to the Form 5500 Annual Return/Report filed by private-sector employee benefit plans
Every New Year holds out the promise of new possibilities. Start 2022 by examining your financial situation and make sure you’re on track to a comfortable retirement. Learn more about financial resolutions you can make
With 2021 behind us, many business owners are discovering that, despite COVID-related challenges, they had a good year from a business perspective. That means it would be great to have additional tax deductions and credits to help reduce the business’s overall tax liability.
Pentegra offers a comprehensive array of Third Party Administrative (TPA) Services. We offer clients the bench strength of a tenured and professionally credentialed team. Our expert team of ERISA attorneys, ASPPA-certified consultants and compliance specialists serves thousands of complex retirement plans nationwide, delivering among the highest level of expertise and technical support in the industry today.
They are new for 2022—Groups of Plans (GoPs)—or as the Department of Labor (DOL) has begun to refer to them for reporting purposes, “Defined Contribution Group Plans.” The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub. L. 116–94, created GoPs, effective for the 2022 plan year. Technically, it is a simplified mechanism for filing a single Form 5500 information return for a collection of defined contribution plans that have the same overall set up.
Executive benefit plans can be designed exclusively for key employees – providing an optimal solution to benefit limitation issues. An executive benefit plan is a contractual commitment by an employer to a select group of employees to provide supplemental retirement benefits at a future date.
Are All Systems Go? If you're close to retiring, it's time to begin thinking about spending your savings. Retirement is a big life change. Planning ahead can help make the transition easier
Pentegra offers a comprehensive array of Third Party Administrative (TPA) Services. We offer clients the bench strength of a tenured and professionally credentialed team. Our expert team of ERISA attorneys, ASPPA-certified consultants and compliance specialists serves thousands of complex retirement plans nationwide, delivering among the highest level of expertise and technical support in the industry today.
