Four SECURE 2.0 Provisions Plan Sponsors Are Likely to Add
As we continue to evaluate the optional provisions of the SECURE 2.0 Act, we were interested in learning more about what provisions plan sponsors are interested in adopting. Read More >
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Leisha Gosling has worked for over 30 years in the field of Defined Contribution Plan Administration. She graduated from the University of Louisville with a Bachelor of Science in Business Management and from Sullivan University with a Master’s degree in Business Administration. Leisha joined RMS as a New Business Consultant in 2020. Her areas of expertise include qualified retirement plan administration and consulting, plan document underwriting, and compliance. She focuses the majority of her time at RMS on new client implementation and onboarding as well as marketing and new business initiatives. She also maintains the plan document used by the firm and performs special research projects. Leisha has been awarded the designations of Qualified 401(k) Administrator and Qualified 401(k) Consultant from the American Society of Pension Professionals & Actuaries and Certified Employee Benefits Specialist from the International Foundation of Employee Benefit Plans.
As we continue to evaluate the optional provisions of the SECURE 2.0 Act, we were interested in learning more about what provisions plan sponsors are interested in adopting. Read More >
Here's a summary of the key changes for 2025 that financial advisors and plan sponsors need to know. Read More >
MEPs and PEOs have been around for many years. SECURE 2.0 expanded on these types of plans by introducing PEPs. Read More >
The DOL issued a new “retirement security rule” package that amended the five-part test for determining whether a person is an ERISA fiduciary by reason of providing investment advice for a fee. Read More >
Thanks to SECURE 2.0, for plan years beginning after December 29, 2022, employers that sponsor 401(k) or 403(b) plans may offer employees a “de minimis” financial incentive. Read More >
SECURE 2.0 Act provisions related to required minimum distributions. Read More >
Correctly maintaining a retirement plan comes with responsibilities and administrative duties to ensure compliance with the various complex employee benefit plan laws and regulations. Read More >
Notice 2024-2 and/or Notice 2020-68 included guidance for the four available tax credits for small employers. Read More >
On December 20, 2023, the IRS released guidance on several provisions of the SECURE 2.0 Act. Read More >
SECURE 2.0 made technical corrections to the long-term/part-time rules. Read More >
Although SIMPLE IRAs may initially be the best fit for certain small businesses, they may not continue to be the best fit over time. Read More >
The Department of Labor finalized changes to the Form 5500 financial statement audit requirement for retirement plans for plan years beginning on or after January 1, 2023. Read More >
RMS has become aware of a glitch in the IRS system that led to erroneous late-filing notices being issued for Form 8955-SSA. Read More >
On August 25, 2023, the IRS released Notice 2023-62. Read More >
This article focuses on the three specific changes for section 403(b) tax-sheltered annuity plans (403(b) plans) that did not affect 401(k) plans. Read More >
This eleven step checklist will help you end your plan year smoothly. Read More >
Although financial planning is a very important part of retirement planning and retirement readiness, it is only one of many things to consider. Read More >
Employers may now rely on an employee self-certification that they have experienced a hardship and that the employee has no other funds available to satisfy the hardship. But should you? Read More >
Section 331, Section 326, Section 120, Section 314, Section 115, Section 323, and Section 334 Read More >
Section 301, Section 305, and Section 350 Read More >
Section 110 of the Secure 2.0 Act allows Student Loan Matching. Read More >
SECURE 2.0 increased the maximum tax credit allowed for setting up a new retirement plan. A tax credit is a powerful tool that reduces the amount of taxes you may owe on a dollar-for-dollar basis. Read More >
SECURE 2.0 Act: Catch-Up Contributions and Additional Roth Options Read More >
On December 29, 2022, the SECURE 2.0 Act was included as part of a larger omnibus spending package. The legislation contained 92 provisions which are retirement plan related. Read More >
On December 29, 2022, the SECURE 2.0 Act was included as part of a larger omnibus spending package. The legislation contained 92 provisions in total, almost all of which are retirement plan related. Read More >
Section 102 of the SECURE 2.0 Act amend the tax laws to increase the employer credit for small plan startup costs. Read More >
The SECURE Act requires that long-term/part-time employees must be permitted to make elective deferrals under an employer's 401(k) plan after three years working more than 500 hours. Read More >
Policies and procedures for 401(k) plans help employees involved in plan administration do their job efficiently. Read More >
Cycle 3 document restatement, SECURE Act amendment, and CARES Act amendment are all retirement plan related documents with important deadlines for 2022. Read More >
Lifetime Income Disclosures present account balances as an annuity to better inform participants on monthly income after retirement. Read More >
Real estate, cryptocurrency, hedge funds, private equity; is adding alternative investments to your retirement plan worth the risk? Read More >
Investors believe it is beneficial to invest early in the market, but is that the best option for a participant deferrals? Read More >
A transaction between the qualified plan and a disqualified person. Read More >
Designating a beneficiary for an employee’s retirement plan assets is one of the most important financial decisions a participant will ever make. Read More >
Who is considered an employee for retirement purposes? Why is it important? Read More >
The IRS has issued modified rules on how to correct deferral errors in 401k plans. Read More >
In most cases 401k funds qualify for creditor protection under a federal law known as ERISA. Read More >
Section 110 of the Act revised requirements for church 403(b)(9) plans. Read More >
Section 110 of the Act revised the distribution option for 403(b) plans. Read More >
Section 401 of the Act limited the timing of distributions from an inherited IRA. Read More >
Section 403 and 404 of the Act increased the fees for late filing for Form 5500 and Form 8955-SSA. Read More >
Section 302 of the SECURE Act expanded the benefits of 529 college savings plans. Read More >
Section 203, 204 and 109 of the Act addressed participant statement requirements, portability of balances and selecting a provider for Lifetime Income products. Read More >
Section 202 of the Act revised Form 5500 rules to allow related employers to file a consolidated Form 5500. Read More >
Section 101 of the Act enhanced capabilities of Multiple Employer Plans (MEP) and created Pooled Employer Plans (PEP). Read More >
Section 108 of the Act amends the tax laws to prohibit the use of debit/credit cards to take a participation loan. Read More >
Section 102 of the Act amends the tax laws to increase the auto enrollment cap to 15%. Read More >
A plan will be considered adopted for a particular year as long as it is adopted before the due date of the business tax return (including extensions). Read More >
Sections 106 of the Act amend the tax laws to Treat Certain Taxable Non-Tuition Fellowship and Stipend Payments as Compensation for IRA Purposes. Read More >
EVERYONE in a company is responsible for Cybersecurity - our society is dependent on electronic communication and data transfer. There are simple changes a company can make to protect their data. Read More >
Retirement plan laws can be intimidating but a well thought out administrative policy can relieve some of the anxiety in making decisions that are in compliance with ERISA rules and regulations. Read More >
The DOL released final guidance on October 30, 2020, concerning socially responsible, environmental, corporate governance (ESG) investing, impact investing, and economically targeted investing. Read More >
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