Will New 401(k) Compliance Testing Issues Arise Because of COVID-19 Workforce Changes?

Fulcrum Partners Reports on 401(k) Compliance Testing Issues Created by COVID-19 Workforce Changes

Fulcrum Partners. Fulcrum Partners Media Releases

PONTE VEDRA BEACH, FL — (August 13, 2020) Fulcrum Partners, a leading executive benefits advisory, announces the publication of “Will New 401(k) Compliance Testing Issues Arise Because of COVID-19 Workforce Changes?” The white paper, written by Fulcrum Partners Managing Director and Partner, Steve Broadbent, examines how the COVID-19 pandemic is creating challenges for plan sponsors required to perform specific nondiscrimination tests on the 401(k) plans they offer employees.

Impact of covid 19 on retirement

Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans

Fulcrum Partners. Human Resources

IslerDare is a legal firm dedicated exclusively to the representation of management in all aspects of labor, employment and employee benefits law. We frequently share their insights here on the Deferred Compensation Blog, and are pleased to provide you this link to their timely newsletter, “The Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans,” and the excerpt featured below, which specifically addresses current IRS positions on issues that could result from the COVID-19 Pandemic. 

SECURE Act release cover

Fulcrum Partners Releases Report on Impact of SECURE Act on NQDC Plans and Important Strategic Tax-Saving Solutions

Fulcrum Partners. Fulcrum Partners Media Releases

Since the SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law by President Donald Trump on December 20, 2019, much of the resulting conversation has focused on how the new law effects various aspects of 401(k) plans. Fulcrum Partners, a leading U.S. executive benefits advisory, has released a report focused on other important implications of the SECURE Act, specifically how it may impact nonqualified deferred compensation (NQDC) plans and retirement distribution elections.

Check-Lock And Key On The Brown Wooden Table

Legacy and Retirement Planning After the SECURE Act

Fulcrum Partners. Deferred Compensation News

Fulcrum Partners is pleased to share these in-depth insights about the SECURE Act (Setting Every Community Up for Retirement), published January 23, 2020 by the AALU WR Newswire. The WRMarketplace is created exclusively for AALU members by experts at Baker Hostetler LLP and the AALU staff, led by Jonathan M. Forster, Partner, Rebecca S. Manicone, Partner, and Carmela T. Montesano, Partner. WR Marketplace #20-02 was written by Michael P. Vito, Counsel, and John F. DeStefano, Associate, Baker & Hostetler LLP. #secureact #plansponsor #retirement #retirementplan

401k Excess Solution

ICYMI: The 401(k) Excess Contribution Solution

Fulcrum Partners Deferred Compensation News

In case you missed it (#ICYMI), we’re republishing one of the most-read updates we’ve shared this year on Deferred Compensation News and Updates. Download report as a PDF Offsetting the 401(k) Refund To help ensure that a 401(k) plan does not favor business owners or other highly compensated employees (HCEs), plan sponsors are required to perform specific nondiscrimination tests. The …

The 401k Excess Contribution Solution | Offsetting the 401(k) Refund

Offsetting the 401(k) Refund with a Nonqualified Deferred Compensation Plan

Fulcrum Partners. Deferred Compensation News

Download report as a PDF The 401(k) Excess Contribution Solution To help ensure that a 401(k) plan does not favor business owners or other highly compensated employees (HCEs), plan sponsors are required to perform specific nondiscrimination tests. The Actual Deferral Percentage test (ADP) is used to help determine a 401(k) plan’s deferral limits. IRC Section 401(k)(3)(A)(ii) established the ADP test …

Save More “Help Your Clients’ Key Employees Bridge the Retirement Gap,”

Save More than a 401(k) or 403(b) Plan Allows

Fulcrum Partners Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) allows employees to save above and beyond the limits of a 401(k) or 403(b) plan. Plus, employees may be able to take advantage of tax benefits not offered with other savings options. Unlike a deferred comp plan, a 401(k) plan, 403(b) plan and Individual Retirement Accounts (IRAs) have limits on how much the employee …