Correcting Retirement Plan

Correct Retirement Plan Operational Failures and Other Issues

Fulcrum Partners Executive Benefits News, Fulcrum Partners News

The IRS recently made significant changes to its comprehensive guidelines on how retirement plans can correct operational and other failures. On July 16, 2021, the Internal Revenue Service (the IRS) released Rev. Proc. 2021-30, reflecting important changes to the Employee Plans Compliance Resolution System (the EPCRS) that the IRS previously established for correcting errors in tax-qualified retirement plans.

Why Employers Use Nonqualified Deferred Comp

Why Employers Use Nonqualified Deferred Comp Plans

Fulcrum Partners Deferred Compensation News, Executive Benefits News

As the federal income tax structure is being re-tooled yet again, employers are evaluating the use of nonqualified plans as a strategy for positioning the organization’s executives to save more effectively for retirement. Why employers use nonqualified deferred comp plans includes benefits both for the organization and for its executives.

DOL Cybersecurity Guidance

Cybersecurity for Your Defined Benefit Plan

Fulcrum Partners Executive Benefits News

Last month, the U.S. Department of Labor (DOL) issued a press release aimed at defined benefit plan sponsors, plan fiduciaries, record keepers, and plan participants. For the first time, the DOL’s Employee Benefits Security Administration issued cybersecurity guidance.