We have noticed an increasing number of employers reaching out with questions about whether they should have their defined contribution plan join the auto-portability network. This new option, introduced by SECURE 2.0, has gained traction as many major recordkeepers have committed to joining the auto-portability network and have begun ...
Earlier this year, the Internal Revenue Service (IRS) issued a number of new notices updating and clarifying the preventive services expenses that high deductible health plans (HDHP) can cover without affecting a participant’s health savings account (HSA) eligibility. As background, there are multiple requirements that must be met in ...
If you are 73 or older, remember to take your Required Minimum Distributions from any retirement plan or IRA you may have. As discussed in prior blog posts, Required Minimum Distributions (“RMDs”) are taxable amounts that account owners must withdraw annually if they meet the age requirement of 73. Failure to take an RMD on time may result in ...
Santa is not the only person who should be making a list and checking it twice this December. All sponsors of self-insured medical plans should also make sure that they double-check their year end to do lists. Since the passage of the Affordable Care Act (ACA), keeping your health plan in compliance seems more and more difficult each year. We know you ...