Retirement plan sponsors have long struggled to satisfy the participant benefit statement requirements.  Over the course of the last 20 plus years, many plan sponsors have attempted to satisfy the delivery of benefit statements electronically and, to do so, have had to navigate a tangled web of regulatory requirements.  While complicated, electronic delivery remains desirable…

According to the Internal Revenue Service (“IRS”), forfeitures in a defined contribution plan must be used no later than 12 months after the end of the plan year in which the forfeitures are incurred.  The IRS considers any failure to abide by this timeline to be a compliance failure.  Unfortunately, many plan sponsors inadvertently fail…

In order to allow the federal government to include an extra year of defined benefit retirement plan premium payments within their 10 year budget window, Congress created section 502 within the Bipartisan Budget Act of 2015 (“BBA”).  As a result, with respect to plan years beginning in 2025, Section 502 of BBA accelerates the premium…