Plan Operations & Admin

Record Retention: What Should I Keep, For How Long, and How Should I Organize It?
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
We hear time and time again, “what records should I keep, how long should I keep them, and how should I organize my files?” Remember several rules of thumb when it comes to record retention. Plan Documents should never be discarded. This includes Basic Plan Documents, Adoption Agreements, Amendments, and Summary Plan Descriptions. Annual Filing  Read More →
Improper Handling of Hardship Distributions May Result in Significant Problems
Team SummitEmployer Resource Center, Plan Operations & AdminComments are off for this post
storm clouds
These days, many plans are experiencing an uptick in the number of participant requests for hardship distributions. Much of this increased activity may be attributed to our prolonged and tepid economic recovery. As these requests are considered, you want to be sure not to act to the detriment of your plan. Improper handling of hardship  Read More →
No Beneficiary Designation. Who Gets the Money?
Team SummitEmployer Resource Center, Plan Operations & AdminComments are off for this post
piggy bank
According to a recent Wall Street Journal article, retirement plans and IRAs account for about 60 percent of the assets of U.S. households investing at least $100,000¹. Both state and federal laws govern the disposition of these assets, and the results can be complicated, especially when the owner of the account has been divorced and  Read More →

You are now leaving Summit Group 401(k) Consulting

Summit Group 401(k) Consulting provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by Summit Group 401(k) Consulting, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL