We proudly announce that Lisa Pettis and Lindsay Luketic have been nominated for the 2024 NAPA Top Women of Excellence award, a prestigious recognition celebrating the most impactful women in the retirement plan industry.
Lisa and Lindsay’s dedication, leadership and contributions have significantly impacted our organization and set a high standard across the industry.
Congratulations on your nominations, Lisa and Lindsay! We look forward to celebrating your continued success.
Welcome to 401(k)ompass, a series of two-minute videos to help you manage your 401(k) more effectively by addressing current issues and challenges. In our latest installment, Derek Burrow discusses two key areas where companies often face challenges: participant loan administration and compliance with annual deadlines. He explains how loan repayment issues can lead to costly consequences and shares tips for handling these situations, including alternative repayment methods. Additionally, Derek covers the risks associated with falling behind on annual testing and 5500 filings, emphasizing the importance of proper planning to avoid legal penalties. Watch now to learn more about how to stay…
Managing a 401(k) plan involves meticulous attention to detail; even small administrative errors can lead to costly corrections. In the latest 401(k)ompass episode, Lindsay Luketic highlights two frequent pitfalls in plan administration: improper payroll source withholding and inaccurate tracking of vesting and eligibility. Here, we talk more about these issues and provide you with practical strategies to help avoid them. Improper Payroll Source Withholding Many plan sponsors overlook the importance of accurately withholding deferrals from payroll sources such as bonuses and overtime. If your plan specifies that deferrals should be included or excluded from these sources, failing to comply can result in…