Coverage testing analyzes whether an adequate proportion of the employees that the plan benefits are non-highly compensated employees (NHCEs), as qualified retirement plans cannot discriminate in favor of highly compensated employees (HCEs). Coverage testing is conducted for each type of…
PPA Plan Restatements – Retirement Plan Update June/July 2014
View this Newsletter Focus: Ready or Not, Here it Comes…the PPA Plan Restatement Background Types of plan documents Individually designed Pre-approved Restatement cycles IRS letters Protected benefits Restatement process Same gender marriage interim amendments Defense of Marriage Act (DOMA) By Robbie…
Key Employees and Top Heavy Status
Key Employees A retirement plan is considered to be top heavy when a significant portion of the money in the plan is attributable to key employees. An employee is a key employee if they are: Top-Heavy Status – Defined Contribution…
Defined Benefit Plan White Paper
“Defined Benefit Plans: Explained in Plain English” Summary: Most people are familiar with 401(k) plans and profit sharing plans; however, plans like these account for only 60% of qualified retirement plan assets. The remaining 40% is found within defined benefit plans,…
Safe Harbor 401(k) Plan – Retirement Plan Update Apr/May 2014
View This Newsletter Focus: The Continuing Evolution of the Safe Harbor 401(k) Plan Background Tried it but didn’t like it Tried it, like it, but want to make a few changes Forfeitures…be careful when and how you use them Forgot to provide…
Cash Balance Guide
Pinnacle Plan Design is a leader in the design and administration of Cash Balance plans. We strongly believe in collaborating with advisors, CPAs and attorneys to help them speak knowledgeably about cash balance plans with their clients. Cash Balance Guide for 2016…
Boomerang Employees – Retirement Plan Update Feb/Mar 2014
View this Newsletter Focus: Boomerang Employees Leaves of absence, inconsistent work schedules, and transfers The rule of parity Breaks in service Eligibility and vesting By Robbie Petrillo Pinnacle Plan Design is a third-party administrator (TPA) of employer-sponsored qualified retirement plans.…
Retirement Plan News November/December 2013
Featuring… The Supreme Court DOMA Decision One-time Extension of Participant Disclosure Notice Recent Developments DOL Advisory Opinion on Revenue Sharing Payments By Robbie Petrillo
New Pension Limitations for 2014
The Internal Revenue Service recently released the new pension limitations for 2014. Now don’t get too excited; nothing changed drastically. Limit 2014 2013 Maximum Annual Pension Benefit $210,000 $205,000 Maximum Annual Addition (Defined Contribution Plan) $52,000 51,000 Maximum Elective Deferral…
Retirement Plan News September/October 2013
Featuring… 401(k) Questionnaire: The Final IRS Report Safe Harbor 401(k) Plan Options for 2014 Recent Developments GAO Report on Rollovers PBGC Premium Increases