The IRS finally released the 2009 Form 8955-SSA used for reporting participants with deferred vested pension benefits. They also extended the deadline for the 2009 and 2010 filings from August 1, 2011 to January 17, 2012. Here are links to: 2009 Form 8955-SSA (fill-in the box version) Instructions for Form 8955-SSA Employee Plans News with […]Read More… from IRS Releases 2009 Form 8955-SSA and Extends Filing Due Date
The 2010 Form 5500-EZ (with instructions) is now available for “one-participant” retirement plans. Sponsors and practitioners have waited months for the release of these forms. The filing deadline is July 31, 2011 (without extensions) for calendar year plans, or 2 1/2 months later with extensions. The documents are available here: 2010 Form 5500-EZ 2010 Form […]Read More… from Better Late Than Never: IRS Releases 2010 Form 5500-EZ
If your 401(k) plan is failing the Actual Deferral Percentage (ADP) test, then it’s time to consider some plan design changes. You need to figure out a way to encourage non-highly compensated employees (NHCEs) to save more retirement money in their 401(k) accounts while keeping benefit costs under control. This post will guide plan sponsors […]Read More… from Strategic 401(k) Design: Preventing ADP Failures
Plan sponsors should check their calendars and be aware that the deadline for making corrective distributions to HCEs (without an excise tax penalty) for a failed ADP or ACP test is quickly approaching. – General deadline is within 2 ½ months after end of plan year (i.e., March 15th for calendar year plans). – The […]Read More… from Watch Out for Approaching ADP/ACP Correction Deadlines
The DOL recently announced an extension of the deadline for service providers to comply with Section 408(b)(2) regulations. These rules govern the disclosure of fees charged to qualified retirement plans (e.g., 401(k) and defined benefit pension plans). Disclosures were originally required by July 16, 2011, which has now been extended to January 1, 2012. The […]Read More… from Extension of Retirement Plan Fee Disclosure Deadline
The IRS just published the retirement plan limits for 2011. Most of the limits for retirement plans are unchanged – again. They’re the same as 2009 and 2010: Maximum annual pension plan benefit $195,000 Maximum annual addition for defined contribution plans 49,000 Maximum 401(k) elective deferral 16,500 Maximum catchup contribution (age 50 and over) 5,500 […]Read More… from 2011 IRS Pension Limits and Social Security Wage Base
Despite the DOL’s rejection of a previous request by the American Benefit Council for automatic extension of time to file the 2009 Form 5500 until December 31, 2010, the American Society of Pension Professionals and Actuaries (ASPPA) has filed a similar request with the DOL and IRS. With less than two weeks until the filing […]Read More… from Another 5500 Extension Appeal
The Small Business Jobs Act of 2010 (H.R. 5297) passed the Senate last week and is expected to be signed into law by the President. As we mentioned in a previous post, there are a couple of retirement plan changes included in this bill. They include: – Add a Roth option for 457(b) plans. This […]Read More… from Roth 401(k) Rollover Bill Update
Employers (large and small) will want to be aware of a provision included in a Senate jobs bill last week: the potential to allow eligible rollovers from a traditional 401(k) plan into a Roth 401(k) plan. Business Insurance has a good summary of some of the details, and here are some of the highlights: The […]Read More… from Roth 401(k) Rollover Changes
