News from Kampstra Wealth Management
Former Employees with Plan Assets are Still Plan Participants
Plan Sponsors should understand that terminated employees who left their account balance in your plan are still considered participants under ERISA. They cannot contribute to their account under the plan but otherwise they have the same ERISA protected rights as plan participants.
Impact of the Coronavirus Relief Bill on Retirement Plans
1. CARES Act Provisions Not Extended Provisions of the CARES Act were not extended past the original sunset dates. Most notably, the loan suspension provision will not continue into 2021. Any participant who elected to suspend his or her loan payments under the...
How Much Do You Know About Your Retirement Plan?
Your employer provides you with a retirement plan for you to save money in, tax-deferred, for the day you bid your career farewell and enter retirement. It is important to know the facts about your plan, so you can maximize its saving potential.
Preparing for an Annual Plan Audit
Does your plan require an annual audit? If your eligible participant count (including terminated employees who maintain an account balance) exceeds 100 at the beginning of your plan year you may be required to conduct a benefit plan audit (the one exception is the...
News Archive
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