Annual Compliance Testing: Need a Hand?

In January, Voya begins annual testing for 401(k) plans to ensure that they are in compliance with important Internal Revenue Code requirements. On or about January 10, you should have received an email from contactus@abaretirement.com asking if you would like to take advantage of compliance services offered by the ABA Retirement Funds Program’s (“the Program”) compliance services, including nondiscrimination testing...

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Is it time To Review Your Plan Design?

As this plan year draws to a close, you may want to review your plan design and consider strategic changes. A safe harbor plan is helpful because it makes your plan exempt from nondiscrimination testing while allowing your highly compensated employees (HCEs) to defer up to the maximum amount. You have until December 1 to adopt or change a safe harbor plan...

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