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Hey Joel! – Answers from a recovering former practicing ERISA attorney January 22, 2019 by BerganKDV Team
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, Will hardship suspensions go away in January 2019? If someone takes a hardship today, do we stop the suspension on Jan. 1, 2019? ~ Anxious in Alabama Dear Anxious, First, understand […]
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Records and Their Expiration Dates January 22, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Records and Their Expiration Dates
“What records should I keep? How long should I keep them? How should I organize my files?” Advisors have been asked these questions time and time again by plan sponsors looking for a general guideline for record expiration dates. Record retention doesn’t need to be a mystery, and the filing system doesn’t need to become […]
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Six Easy Steps to Keep Your Plan Assets Safe January 22, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Six Easy Steps to Keep Your Plan Assets Safe
Joel Shapiro, JD, LLM, Senior Vice President, ERISA Compliance Cyber fraud is a growing concern globally. Individuals are typically very careful to keep their bank account and email authentication information safe, but they aren’t always smart with the rest of their personal information. Participants need to be vigilant with their retirement savings accounts as well. […]
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Exchange Your Old Retirement Solutions for New Ones December 12, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Exchange Your Old Retirement Solutions for New Ones
Jonathan Coombs, Investment Analyst What is an Exchange? An exchange is a turnkey solution for businesses that allows you to provide the benefit of a retirement plan while offloading some of the administrative and fiduciary responsibilities at a potential cost reduction. A team of professionals work together on your behalf so you can focus on […]
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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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