As the calendar flips into the new year, 401(k) compliance teams across the country are prepared for long days as they race against a March 15 deadline to complete the required Nondiscrimination Tests. These tests are required by the IRS to ensure that every employee...
At American Trust Retirement, it’s our goal to keep you informed. We are dedicated to adding value to your retirement plan practice by helping to keep you up-to-date on what’s going on in the industry. With 2024 nearing its end, we wanted to share a list of some of...
In 2012, the Department of Labor issued final regulations for Section 408(b)2, requiring all 401(k) providers to fully disclose direct and indirect fees in a standardized format. This transparency has pressured Plan Sponsors and Advisors to scrutinize 401(k) fees,...
401(k) Day serves as an annual reminder to focus on retirement savings. It’s a chance to review your plan, adjust your strategy, and ensure you’re on track for a secure retirement. Key Actions for 401(k) Day: 1. Check Your Contributions: Ensure your 401(k)...
Historically, employers faced restrictions when considering shifting from a SIMPLE IRA to a 401(k) plan mid-year. But thanks to the SECURE Act 2.0, 2024 brings good news – employers can now terminate a SIMPLE IRA and replace it with a safe harbor 401(k) plan at any...