The IRS 2020 contribution limits were released on November 6, 2019. Here's what's changing for certain employee benefit plans beginning January 1, 2020. 2020 Contribution Limits for FSAs Health FSA For 2020, the Health Flexible Spending Account annual maximum contribution will increase by $50 to $2,750 per plan year. Adoption Assistance FSA The maximum amount… Continue reading IRS 2020 Contributions Limits: What’s Changing
Category: Retirement Plan Services
Retirement Plan Tips: Why You Hiring an Independent Fiduciary Is Good for Your Business
by Daniel Halle, Regional Director of P&A Group Retirement Plan Services As a plan sponsor and fiduciary to your company’s retirement plan, you have certain responsibilities to ensure optimal investments, reasonable fees, and informed participants but, unless you are an expert in plan design, investments and administration, you may be swimming upstream in choppy water.… Continue reading Retirement Plan Tips: Why You Hiring an Independent Fiduciary Is Good for Your Business
You’re Invited! Plan Refresh: The Impacts of Re-enrollment on Plan Fiduciaries & Participants
Please join us on March 22 for this FREE webinar! Plan Refresh: The Impacts of Re-enrollment on Plan Fiduciaries & Participants This webinar will cover the following: The challenge that plan sponsors and participants face when it comes to contributing to a plan What is a plan refresh? Mapping versus defaulting methodologies Key considerations Common… Continue reading You’re Invited! Plan Refresh: The Impacts of Re-enrollment on Plan Fiduciaries & Participants
New Inflation-Adjusted Amounts Released for 2018
Flexible Spending Accounts Health FSA For 2018, the dollar limitation on employee salary reduction contributions to a Health Flexible Spending Account will increase by $50 to $2,650 per plan year. Adoption Assistance FSA The maximum amount that may be excluded from an employee's gross income under an employer-provided adoption assistance program for the adoption of… Continue reading New Inflation-Adjusted Amounts Released for 2018
DOL will not pursue claims against Fiduciaries During Phased Implementation Period Ending on January 1, 2018
On May 22, 2017 the DOL published Field Assistance Bulletin No. 2017-02 which announced a temporary enforcement policy related to the Department of Labor’s final rule defining who is a “fiduciary” under ERISA and the related prohibited transaction exemptions (PTEs). The final rule, entitled “Definition of the Term ‘Fiduciary’; Conflict of Interest Rule -- Retirement… Continue reading DOL will not pursue claims against Fiduciaries During Phased Implementation Period Ending on January 1, 2018
Re-designed Retirement Portal Offers Improved Layout & Functionality
Recently, P&A Retirement Plan Services overhauled the participant portal* and replaced it with a refreshed layout. Increasing user convenience and ease remained at the forefront of this re-model, and the new layout provides intuitive functionality embedded in a more aesthetically-minded design. With a simplified navigation, the participant dashboard offers everything from viewing your account… Continue reading Re-designed Retirement Portal Offers Improved Layout & Functionality
403(b) Plans – What You Need to Know to Control Costs
by Dan Halle, Regional Director of Retirement Plan Sales Understanding important characteristics of retirement plans help employers maintain more control over their plan offerings. Recent changes to the structure of 403(b) plans make it a more viable option for some employers but there are crucial elements plan sponsors need to be aware of that can help… Continue reading 403(b) Plans – What You Need to Know to Control Costs
A Tribute to Debby Obstarczyk
How do you truly adequately put into words the entirety of someone’s life and the imprint they’ve left behind? You don’t, but you can try. Debby Obstarczyk, Manager of P&A Group Retirement Plan Services since 1995 , was the kind of person who you wanted to be around and whose infectious, positive attitude always lifted… Continue reading A Tribute to Debby Obstarczyk
What Business Owners Don’t Know Can Hurt Them – Know Your Fiduciary Responsibility
by Daniel Halle, Regional Director of Retirement Plan Sales Does your company offer a qualified retirement plan? Are you a business owner or trustee of your retirement plan? Did you know as a retirement plan sponsor or plan trustee, you have a legal and fiduciary responsibility for the decision making for your retirement plan? Most… Continue reading What Business Owners Don’t Know Can Hurt Them – Know Your Fiduciary Responsibility