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401(k) Fidelity Bonds – Frequently Asked Questions
An ERISA fidelity bond protects 401(k) plan participants against losses caused by acts of fraud or dishonesty. Employers should understand their basics.
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401(k) Matching Contributions – What Employers Need to Know
401k matching contributions can be highly effective in motivating workers to save for retirement. Small businesses should understand their match options.
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Four 401(k) Plan Services That Justify Higher Provider Fees
To avoid 401k fiduciary liability for paying excessive fees, pay as little as possible for “commodity” 401k services and extra for “value-added” ones only.
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Solo 401(k) Plans – Their Benefits to Self-Employed Workers
Solo - or individual - 401k plans cover business owners and their spouses only. They allow plan participants to make maximum deductible contributions – including “mega back door” Roth IRA contributions – up to the 415 limit.
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3 Common 401(k) Provider Conflicts of Interest!
Employers have a fiduciary responsibility to evaluate their 401(k) provider's conflicts of interest. They risk personal liability when they don't.
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401(k) Plan Coverage Testing – What Employers Need to Know
The IRC section 410(b) coverage test ensures a 401(k) plan sufficiently covers Non-Highly Compensated Employees. Employers should understand its basics.
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Department of Labor Guidance for Paying 401(k) Fees from Plan Assets
The DOL divides 401(k) fees into two categories – administrative and settlor expenses. Employers can only pay administrative expenses from plan assets
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Unpacking the Complex Web of Insurance Company 401(k) Fees
All insurance company 401(k) providers - including John Hancock, Empower, Voya, Principal – charge hidden fees. Plan fiduciaries must be able to evaluate them.
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The 401(k) Form 5500 – Frequently Asked Questions (FAQ)
The Form 5500 discloses 401(k) plan information to the Federal government and plan participants. Employers must understand their plan's filing requirements.
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401(k) Plan Compensation – What Employers Need to Know
A 401k plan can require multiple definitions of employee compensation. To keep their plan in legal compliance, employers must understand all of them.
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