Here are key February Deadlines for 2020:
401(k)/403(b) plan recordkeepers have provided Q 4 2019 quarterly statements to participants, including fee disclosure information (deadline is February 15)
|February 28||Confirm retirement plan recordkeepers have filed Forms 1099-R (due date is March 31 if filing electronically)|
|February 28||File ACA* information reporting returns (Forms 1094-C and 1095-C) for 2019 (due date is March 31 if filing electronically)|
|February 28||PBGC** Form 1 ES estimated premium payment (flat-rate premium for plans with over 500 participants) is due to the PGBC|
|February 29||Complete online disclosure to CMS*** regarding “creditable coverage” status for prescription drug coverage to Medicare Part D individuals|
Other February Projects:
- Work with FSA/ 125 plan recordkeepers or brokers to perform applicable nondiscrimination testing, including 105(h) testing, 125 testing, and 129 testing for 2019 and projected testing for 2020
- Hold quarterly meeting of Benefits Committee to review 2019 year-end investment performance, fees, plan administration data, and plan operational issues
- Evaluate retirement plan design changes under “SECURE Act”
* ACA – Affordable Care Act
** PBGC – Pension Benefit Guaranty Corporation
*** CMS – The Centers for Medicare & Medicaid Services
#retirementplan #fulcrumpartners #SECUREAct
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