401k

Hardship Withdrawals: New Year, New Rules
Team SummitEmployer Resource Center, Plan Operations & AdminComments are off for this post
This past November, the IRS issued proposed regulations to effectuate changes made for hardship withdrawals in the Bipartisan Budget Act of 2018. Comments were due by Jan. 14, 2019. Although the statutory changes are effective beginning in 2019, the proposed regulations do not require any changes in how hardships are administered until 2020. Plan documents  Read More →
Effective Employee Education: Setting the Framework
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Fiduciary duty requires you to provide your employees and participants with educational opportunities so they can make informed investment decisions. It’s not always easy to know what your participants need, want, or will take advantage of.  However, using a simple framework for your educational program may increase its effectiveness among employees. Provide a consistent, ongoing  Read More →
Government Shutdown: Considerations for Employer Sponsored Plans
Team SummitOur NewsComments are off for this post
On Dec. 22, 2018, a partial shutdown of the federal government began, after Congress and President Trump did not reach an agreement on spending measures. It became the longest government shutdown in history. Although a resolution has now been passed to reopen the government for three weeks, what happens after those 21 days have passed?  Read More →

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