Category: Plan Design

The appeal of PEPs for employers is in mitigating personal liability and controlling costs, and has been particularly attractive choice both small business and for audited plans with 100+ participants. Understand the common infrastructure of PEPs, emphasizing their cost-effectiveness compared to single employer plans, with built-in coverage for plan audit expenses and fiduciary responsibility. With this retirement plan option, there will be consideration of PEPs in future RFPs and significant growth in PEP adoption over the next five years.

This article is a helpful guide for wrapping up 2023 smoothly! We will dive into those end-of-year 401(k) tasks that require your attention including plan design review, SECURE Act preparation and impact on businesses, Required Minimum Distributions (RMDs), employee deferrals and more.

High employee turnover could lead to a rise in small 401(k) accounts. Explore how adding a Safe Harbor IRA provision to your plan may help reduce plan costs and potential fiduciary risks.

With thoughtful design features, you can structure a 401(k) plan that stands out in a time of talent scarcity and meets your employees’ needs.