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Hey, Joel! Answers from a Recovering Former Practicing ERISA Attorney November 9, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Hey, Joel! Answers from a Recovering Former Practicing ERISA Attorney
  Hey Joel, Can I avoid an audit by splitting my employees into two plans?  ~ Fingers Crossed in Florida Dear Fingers, There are some organizations out there promoting this approach. Here is the problem: There is no regulation indicating a situation in which two separate plans would be acceptable so you can avoid an […]
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Don’t Let Your Retirement Plan Turn from Benefit to Liability November 9, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Don’t Let Your Retirement Plan Turn from Benefit to Liability
  A retirement plan is important to your business — and to all the employees relying on it for income later in life. However, mistakes and confusion can turn retirement plans from an attractive benefit into a liability. A properly administered retirement plan avoids unnecessary costs and administrative problems, and ultimately mitigates liabilities for plan […]
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How and When to Pay Plan Expenses With Plan Assets November 9, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
How and When to Pay Plan Expenses With Plan Assets
  Tom Bastin, JD, LLM, AIF, CEBS, Managing Director, Southeast Region  Some retirement plan expenses can be paid for with plan assets — but many can’t. Which are the “reasonable and necessary” retirement plan expenses that can be paid out of plan assets? Generally, services required to maintain the plan’s compliance and administration can be […]
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SIMPLE IRA Plan 2019 Limits Announced – Time is Now to Notify Employees of the 2019 Employer Contribution November 5, 2018 by BerganKDV Team
SIMPLE IRA Plan 2019 Limits Announced – Time is Now to Notify Employees of the 2019 Employer Contribution
On November 1, the Internal Revenue Service (IRS) announced 2019 inflation-adjusted limits for all retirement plans, including SIMPLE IRA plans. Employees who are participants in employer sponsored SIMPLE IRA plans can contribute $13,000 for 2019.  This is an increase of $500 over the 2018 limit.  Additionally, any eligible employee that will attain the age of […]
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Hey Joel! – Answers from a recovering former practicing ERISA attorney October 5, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Hey Joel! – Answers from a recovering former practicing ERISA attorney
Hey Joel, My prospect is a 501(c)(3) organization that is not affiliated with a church or school. Are they eligible for a 401(k) plan? Are there any benefits over a 403(b) plan?  ~ Contemplating in Kansas Dear Wondering, Wonder no more! A 501(c)(3) organization is a nonprofit organization and can sponsor either a 401(k) plan […]
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Beware of the IRS and DOL: Four Red Flags They Seek on Form 5500 October 5, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Beware of the IRS and DOL: Four Red Flags They Seek on Form 5500
The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures. Advisors use this to confirm that plans are managed according to ERISA standards. The form also allows individuals access to information, protecting the rights and benefits of the plan participants and beneficiaries covered under the plan. Make sure you […]
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How do you monitor a Dash? Evaluating Cash Equivalent Funds October 5, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
How do you monitor a Dash? Evaluating Cash Equivalent Funds
Ryan Hamilton, Investment Analyst As you read your plan’s lineup, you see the following scores: Periodically you review your plan’s fund lineup; you place some funds on Watchlist, you replace under-performers and you continue to monitor those funds that score acceptably. But, you see a dash next to your cash fund and wonder, what should […]
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Hey Joel! – Answers from a recovering former practicing ERISA attorney September 6, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Hey Joel! – Answers from a recovering former practicing ERISA attorney
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, I volunteer on the Board of Directors, so I don’t have liability, right? ~ Can’t Touch This in Colorado Dear Can’t, Liability is a complicated topic. If the plan is an […]
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Health Modification Can Increase Retirement Dollars September 6, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Health Modification Can Increase Retirement Dollars
A top concern for individuals nearing retirement is out-of-pocket healthcare costs. A recent survey revealed that 74 percent (of 1,316 U.S. adults aged 50 or older) admit that one of their top fears is out-of-control healthcare costs, and 64 percent are terrified of what healthcare costs may do to their retirement plans (up from 57 […]
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Use Plan Analytics to Evaluate Your Retirement Plan September 6, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Use Plan Analytics to Evaluate Your Retirement Plan
Michael Viljak, Senior Plan Advisor Your retirement plan is a valuable resource for your employees and serves as a vehicle to attract and retain top talent. Ensuring plan success is crucial. Examining plan analytics can help evaluate its success. Plan analytics you should explore: Median age, tenure and savings rates of plan participants These analytics […]
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