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Retirement Plan Industry Update – Q3 2019

A safe harbor is a provision in law that provides protection from liability under specific situations or if certain conditions are met. In an effort to encourage companies to offer retirement plans to their employees, the Internal Revenue Service (IRS) and Department of Labor (DOL) offer a number of safe harbor provisions to protect plan sponsors.

Retirement Plan Industry Update – Q1 2019

On April 9, 2019, Principal Financial Group (Principal) announced that it had reached an agreement to purchase Wells Fargo’s retirement plan recordkeeping business.

Retirement Plan Industry Update – Q4 2018

Effective February 9, 2018, Congress signed into law the Bipartisan Budget Act of 2018, which made changes to the hardship distribution rules for qualified retirement plans.

Retirement Plan Industry Update – Q2 2018

Congress recently announced changes to the hardship distribution rules for qualified retirement plans by the Tax Cuts and Jobs Act.

Password Protection

We have all been there. You are opening a new account online and need to create a username and a unique password. You enter a username in the box, which usually is one of your email accounts or a combination of your first and last name, and then hit tab.

Retirement Plan Industry Update – Q1 2018

On March 15, 2018, the court ruled that the Department of Labor (DOL) exceeded the authority granted by Congress and employed a different definition to the term “fiduciary” than Congress intended under ERISA.