Download PDF version Electronic filing procedures require that you sign your retirement plan’s Form 5500 electronically. To sign the Form 5500, the person(s) who signs the face of the Form 5500 on behalf of either the plan sponsor or the…
EFAST2 Forgot Your User ID, Password and PIN for Signing the Form 5500?
To electronically sign your employee benefit plan’s Form 5500, you will need to know your user ID, password, and PIN number. If you no longer have this information (after you have done your initial registration), we created a user-friendly video…
What Is That Auditor Thinking?
Helping the Third-Party Administrators Understand a Plan’s Auditor Article by Amanda Rae Iverson, COO of Pinnacle Plan Design, LLC Let’s Set the Stage Your client has had a plan for many years. This year, they have hit the number of…
PBGC
The Pension Benefit Guaranty Corporation (PBGC) is a federal agency created by the Employee Retirement Income Security Act of 1984 (ERISA) to protect pension benefits in private-sector defined benefit plans. If a plan is terminated without sufficient money to pay…
Five Benefits of Unbundling
Why Choosing Individual Service Providers for Your 401(k) Plan is Better Imagine having an advocate for your 401(k) plan that helps to maximize opportunities and minimize obligations. Third party administrators (TPAs) assume this role as your firm’s 401(k) advocate; however,…
Attribution of Ownership
Ownership is a key factor when designing and operating retirement savings programs. For the purposes of retirement plans, the ownership interest of one’s relative may be added, or attributed, to their own direct interest. There are two definitions when it…
4 Keys to Success with Single-Participant Defined Benefit Plans
BY KEVIN DONOVAN AND LYNN M. YOUNG As seen in the Summer 2014 issue of Plan Consultant Magazine Many problems in solo owner-participant defined benefit plans can be avoided by knowing what your client’s funding objectives and projected cash flow are before you design…
Defined Benefit Plans for Sole Proprietors
If you’re self-employed, your retirement choices are not limited to a Simplified Employer Pension Plan (“SEP”) or other defined contribution plans. Sole proprietors can establish a defined benefit plan. Depending on your age, the annual tax-deductible contributions you may make can…
Coverage Testing
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…
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…