retirement plan

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 →
Houston, We Have a Solution: Effective Investment Menu Design
Team SummitEmployer Resource Center, Plan InvestmentsComments are off for this post
Ultimately, the value a retirement plan advisor brings to plan clients can be measured by how successful the mission is, which in retirement plan terms is measured in plan outcomes and participant readiness for retirement. Offering meaningful processes for investment selection and monitoring, benchmarking vendor services and fees, and supporting plan fiduciaries are now standard  Read More →
401(k) or 403(b)? Best Choice for a 501(c)(3) Nonprofit Organization
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
403(b)s and 401(k)s share more similarities than they do differences, however the glaring difference is that 403(b)s are exclusive to nonprofit organizations. Many think that nonprofits must utilize a 403(b) when choosing a retirement plan vehicle for their employees, but this is a commonly held misbelief. In fact, many nonprofit organizations have established 401(k)s in recent  Read More →

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