Research shows that more than 70 percent of Asian American, Native Hawaiian, and Pacific Islanders (AANHPI) believe they are expected to care for their parents—which can cause a financial toll in addition to emotional stress. As AANHPI Heritage Month wraps up, we take a look at what this responsibility means for members of the AANHPI community and tips on how best to prepare.
May 31st 2023
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Newfront's Joni Jennings identifies operational problems with incentive compensation clawbacks, reviews the impact on salary deferrals that have been deducted from that compensation and deposited to the plan (including associated employer matching contributions), and provides solutions to prevent operational headaches before they happen.
April 17th 2023
Continue readingSeverance compensation is a term that may have a different meaning for the purpose of your qualified retirement plan than how it is used in your workplace. Using an incorrect determination of plan compensation for allocating contributions is an operational failure that may jeopardize the tax favored status of your retirement plan.
November 28th 2022
Continue readingSmall employers desiring to establish or enhance a retirement plan for their employees have many different options available and may take advantage of some unique plan design opportunities.
October 21st 2022
Continue readingIf your company 401(k) plan currently includes participant loan provisions, or you are considering making participant loans available, you should know the qualification requirements and the fiduciary responsibilities involved with operating a loan program.
July 20th 2022
Continue readingA safe harbor 401(k) plan allows your valued employees to contribute their desired amount into the 401(k) plan, without the worry of getting a refund.
July 14th 2022
Continue readingEmployee Fringe Benefits impact the amount of eligible plan compensation for allocating contributions to qualified retirement plans. The definition of eligible plan compensation is found in the legal plan document and communicated to employees in the Summary Plan Description.
May 2nd 2022
Continue readingHow to correct a missed deferral opportunity. A missed deferral opportunity arises when an eligible employee should have had elective deferrals withheld from compensation. Read more about Common Missed Deferral Opportunities.
April 25th 2022
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