401k Advisors & Employee Benefit News
Benefit News by San Francisco 401(k) Advisors
Form 5500 Annual Return/Report of Employee Benefit Plans and related instructions were revised in 2007 by the U.S. Department of Labor (DoL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC). According to a press release from the DoL, the three significant changes to the Form 5500 for plan year 2007 [...]
Most 401k plans require that you file an Annual Form 5500. The Form 5500 is basically a return that you file with the Employee Benefits Security Administration (EBSA – Department of Labor Processing Division) each year. This is an informational return that reports the financial information for your retirement plan for the year and does not require [...]
Securing and maintaining a Fidelity Bond is a DOL requirement for a 401k plan, yet many people are confused as to its purpose. The purpose of a Fidelity Bond is to protect the assets in a retirement plan from misappropriation (i.e., fraud or malfeasance) by plan fiduciaries that have access (or decision-making authority with regard) to plan [...]
As a plan sponsor and fiduciary of your company’s retirement plan, keeping an up-to-date fiduciary file is critical. To begin, we recommend preparing your file in four key sections; contents of each section could include the following: Documents:Plan Document, IRS Determination Letter, Summary Plan Description, Investment Policy Statement, 404(c) Policy Statement and Notice, Form 5500s; [...]
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