Plan documents are the written agreements which describe the terms and conditions of a retirement plan. Let's discuss what's inside.

Fiduciary responsibility refers to the legal and ethical obligation to act in the best interests of another party.

Recordkeeping is the important act of managing all necessary documents for your retirement plan.

Administering a company 401(k) plan comes with its own unique set of challenges and potential errors. As you familiarize yourself with the process, it is common to make a mistake or two. However, these mistakes can result in penalties, liability, and even plan disqualification. While it may sound scary, this is not the end of the road – let's discuss common 401(k) contribution errors and how to correct them. Error #1: Missing Employer Matching Contributions Whether you forgo

Company 401(k) plans are created to benefit all employees, regardless of where they fall in the organizational hierarchy. In order to prevent 401(k) plans from favoring company executives, owners, and employees who are on the higher end of the pay scale, the IRS has enforced annual nondiscrimination testing . In this blog, we will discuss what nondiscrimination tests are and how to stay compliant with the IRS rules and specifications. What is Non-Discrimination Testing? The

Let's start by defining a Fiduciary. A fiduciary is an entity or person responsible for overseeing the administration of the retirement plan. Every retirement plan must have at least one named fiduciary, and many times that person is the business owner. However, typically employers do not have the experience, knowledge, or time to properly manage the administrative work in conjunction with their daily responsibilities as business owners. To avoid issues like burnout and costl