Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
November 15th, 2016
IRS Published Guide for Automatic Enrollment 401(k) Plans
“Automatic Enrollment 401(k) Plans for Small Businesses” can be used by sponsors of automatic enrollment 401(k) plans to educate themselves about how to operate the plan and stay in compliance with laws and regulations.Read more >
Court Imposes Hefty Penalty for Failure to Provide Documents
After deciding in February that Reppert, Inc. failed to provide certain documents to a 401(k) participant who requested them, in violation of the Employee Retirement Income Security Act (ERISA), U.S. District Judge James Knoll Gardner, of the U.S. District Court for the Eastern District of Pennsylvania, has ordered the plan to pay a total of $15,959 in restitution. Gardner also found that the Reppert Inc. 401(k) plan did not file required financial audits with its Form 5500 in certain years, and that the plan’s recordkeeper was not liable for the audits not being filed.Read more >