Bright Business Insights For Owners This Fall 2024 As we wrap up 2024, I’m filled with gratitude and excitement following our most successful Manufacturing Day event yet. The energy and engagement from all who attended made it truly special, and I want to...
What’s Inside This Edition Of Benefit Insights? The Fall 2024 Benefits Insights newsletter outlines key 2025 retirement plan adjustments, including increased elective deferral limits ($23,500), new catch-up contribution options for ages 60-63, and guidelines for...
Bright Business Insights For Owners This Spring 2024 Where has the year gone? It’s hard to believe we are less than 4 months away from 2025. As you gear up for business in the new year, there are several key areas for business owners to focus on: people,...
What’s Inside This Edition Of Benefit Insights? The Retirement Security Survey, conducted by Principal, asked participants why they weren’t enrolled in the plan and a surprising number thought they were. Even though plan provisions such as automatic enrollment...
Bright Business Insights For Owners This Spring 2024 As we approach the second half of 2024, I am pleased to report that the US economy entered the year on a strong footing. Multiple indicators of business activity, labor markets, sentiment, and inflation have been...
What’s Inside This Edition Of Benefit Insights? These provisions allow an employer to withhold deferrals from the employee’s pay without the employee making an election. By utilizing automatic enrollment, an employer can boost participation while simultaneously...
We are off to a good start in the new year! I hope 2024 has begun with optimism and prosperity for you and your businesses. Reflecting on the challenges of 2023 – from inflation to supply chain disruptions – it’s inspiring to see how resilient and adaptable we’ve all...
What’s Inside This Edition Of Benefit Insights? Plans must be tested each year to ensure that they are compliant with the laws governing retirement plans. To understand the testing performed for your plan, it may be helpful to review some of the...
What’s Inside This Edition Of Plain & Simple? We hope you have a great Christmas season and wish you a prosperous and healthy New Year. As you gear up for business in 2024, look at recent history to understand the changes and challenges businesses have continued...
What’s Inside This Edition Of Benefit Insights? On November 1, 2023, the IRS announced the Cost of Living Adjustments (COLAs) affecting the dollar limitations for retirement plans for 2024. In October, the Social Security Administration announced a...
What’s Inside This Edition Of Plain & Simple? It’s hard to believe that we are through the summer months and school is about to start. We are heading into the fall and hopefully, the start to your year has been positive and things continue to go well. Businesses...
What’s Inside This Edition Of Benefit Insights? The Employee Retirement Income Security Act (ERISA) requires coverage to protect the plan from losses due to fraud and dishonesty. There are three main types of bond coverage for retirement plans. Keep...
Bright Business Insights For Owners This Spring 2023 It’s hard to believe that we are already halfway through 2023. I hope that the start to your year has been positive and that things continue to go well. Businesses have faced massive challenges and have undergone...
What’s Inside This Edition Of Benefit Insights? The importance of education Plan Participants, because the more they know, the better. Various reasons why some Plan Participants have drawbacks Keeping a Beneficiary on file and up to date Defined contribution...
What’s Inside This Edition Of Benefit Insights? The effective date of enactment for SECURE 2.0 Act of 2022 Details on effective for Plan years beginning on or after 1/1/23, 1/1/24, and 1/1/25 for SECURE 2.0 Year-End Data Requests Action items for SECURE 2.0 coming...
Bright Business Insights For Owners This Winter 2023 As you gear up for business in 2023, take a look at recent history to understand the changes and challenges businesses have faced: Inflation, supply chain interruptions and delays, rising interest rates, the threat...
In this edition, we discuss the new IRS Cost of Living Adjustments for 2023, proper plan record storage, new plan year checklist, deadline extension for the CARES Act and SECURE Act Amendments, and important 2022 deadlines. What’s Inside This Edition Of Benefit...
Every year, most employers file a Form 5500 for each qualified plan that they sponsor. The purpose of the Form 5500 is to provide required information for the Department of Labor (DOL), but it can also provide valuable insight to the plan sponsor. In this edition...
Bright Business Insights For Owners This Spring 2022 Reflecting on our previous issue of Plain & Simple, a lot of the issues people were dealing with last Fall still remain true, including labor shortages and supply chain issues. Only now we’ve also added...