As a retirement plan sponsor, it is a necessity to offer your organization a 401(k) plan that equips your employees with the tools to help them save for a comfortable retirement. Supporting your employees’ journey to retirement is just as beneficial for the employer as it is for their employees.
As summer temperatures rise and competition in Colorado’s job market heats up, do you have what it takes to rise above the rest? Are you sure your company’s benefits are valued by your employees and by prospective candidates who you want to join your organization?
Corrective distributions occur when a 401(k) plan sponsor has to return a portion of the contributions made by highly compensated employees (HCEs). Corrective distributions arise out of the plan’s failure to pass its annual non-discrimination testing.
As a plan sponsor you have a fiduciary responsibility to your plan participants. This fiduciary duty extends to all aspects of your organization’s 401(k) plan. One of the most important aspects of a 401(k) or any defined contribution retirement plan is the investment menu offered to the plan participants.