Employee Benefit News

The Tax Cuts and Jobs Act (TCJA) offers a 20% tax deduction to owners of pass-through entities, such as sole proprietorships, S corporations, or partnerships, provided they meet certain conditions. Contributions to a qualified retirement plan can help entities qualify for the deduction under the new Internal Revenue Code Section 199A (Section 199A) that would otherwise be phased out or eliminated. The […]

Retirement plan administration requires many tasks and responsibilities that often fall on selected individuals who are also employees of the plan sponsor. These tasks range from census and investment information gathering to the transmittal of contribution checks and distribution payments. Having proper procedures and oversight in place is the best way to prevent fraud, which […]

The Tax Cuts and Jobs Act of 2017 (ACT) made several changes to the rules governing retirement plans, including the treatment of hardship distributions beginning next year. The following article details the changes affecting hardship distributions made after 2018: Easing Hardship Distribution Rules Learn more about our Employee Benefit Services practice  

A recent survey of 250 nonprofit plan sponsors by the Plan Sponsor Council of America (PSCA) revealed that many sponsors are unaware of the how their plans are structured with respect to fees, which could leave them open to fiduciary liability. The key findings of the survey are as follows: One-third of respondents are unsure […]

We are proud to announce the latest addition to the Employee Benefit Services Staff in Long Beach. James has more than 10 years of pension experience, most recently with Benefit Associates, Inc. He is enrolled to practice before the IRS and has professional designations for both defined contribution and defined benefit plans. James is a […]