The purpose of the new disclosure requirements is to ensure participants and beneficiaries have access to adequate information to enable them to comparison shop among investment options to make informed investment decisions.
Below is a general overview of the regulations' key disclosure requirements that become effective in 2012.
Part-time employees may play an important role in your business, which can be a good thing for your bottom line - and can allow welcome flexibility for your employees, too. Many companies, from manufacturing to healthcare, are reaping the benefits of a multifaceted workforce.
But, if you are offering your employees a 401(k) plan as part of your benefits package, it's not safe to assume your part-timers are automatically exempt from the plan. IRS regulations govern this aspect of retirement plans, with formulas for determining minimum age and service requirements, and other stipulations related to part-timers.
This month's newsletter spells out some of the most important need-to-know facts about your part-time team members and your 401(k) program. We hope you'll take a close look, then give us a call. We're here to help you navigate the complexities.
A boomerang employee (as we will use that name in this article) is, quite simply, one who leaves and then comes back to work…a rehire. As is so often the case, the retirement plan rules related to rehires are quite different than those that apply to other areas of employment and benefits. Whether rehiring a former employee is a rare occurrence or part of your regular course of business, it is important to understand how these rules work.