Archive for March, 2018

What Happens When You Deposit Employee Deferrals Late?

What Happens When You Deposit Employee Deferrals Late? By Marcie Carroll In our research, late deposit of contributions is a frequent error made by plan sponsors and is a key priority of the Department of Labor (DOL). In every plan audit conducted by the DOL, the investigator looks to see if contributions have been deposited in a timely manner. A…read more →

Financial Wellness Weekly

Financial Wellness Weekly Financial Wellness Weekly by Marcie Carroll – Carroll Consultants, Ltd. By Marcie Carroll Read paper Monday, Mar. 26, 2018 One Clear Sign You Have a Rotten 401(k)—And What to Do About It www­.daveramsey­.com – Shared by Culpepper CPA If your 401(k) is a big deal in your retirement savings strategy, you’re not alone. According to the Investment…read more →

A challenge to the DOL’s proposed regulatory changes related to retirement plans

A challenge to the DOL’s proposed regulatory changes related to retirement plans Last week, the fifth circuit court of appeals produced a significant challenge to the Department of Labor’s proposed regulatory changes related to retirement plans. The proposed changes centered on qualified retirement plans and holding those that advise on those plans to universal fiduciary standards across all account types…read more →

Changes to Hardship Withdrawal Rules in Retirement Plans

Retirement plans may allow an employee to withdraw money from their plan for financial hardships. The Bipartisan Budget Act of 2018 which was signed into law on February 9, 2018 changes some of the rules regarding Hardship Withdrawals for plan years beginning after December 31, 2018. While each person may have their own definition of what a financial hardship is…read more →