Posts Tagged ‘checklist’
Friday, October 26th, 2018
- Prepare to issue a payroll stuffer or other announcement to employees to publicize the plan’s advantages and benefits, and any plan changes becoming effective in January.
- Conduct a campaign to encourage participants to review and, if necessary, update their mailing addresses to ensure their receipt of Form 1099-R to be mailed in January for reportable plan transactions in 2018.
- Check current editions of enrollment materials, fund prospectuses and other plan information that is available to employees to ensure that they are up to date.
Tags: checklist, finances, financial, financial planning, november
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Wednesday, September 26th, 2018
- Audit third quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan
- Verify that employees who became eligible for the plan between July 1 and September 30 received and returned an enrollment Follow up for forms that were not returned.
- For calendar year safe harbor plans, issue the required notice to employees during October or November (within 30 to 90 days of the beginning of the plan year to which the safe harbor is to apply). Also, within the same period, distribute the appropriate notice if the plan features an EACA (Eligible Automatic Contribution Arrangement), QACA (Qualified Automatic Contribution Arrangement) and/or QDIA (Qualified Default Investment Alternative).
Tags: calendar, checklist, enrollment, finances, payroll
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Wednesday, August 29th, 2018
September Checklist:
• Begin preparing the applicable safe harbor notices to employees, and plan for distribution of the notices between October 2 and December 2 (calendar-year plans).
• Distribute the plan’s Summary Annual Report by September 30 to participants and beneficiaries, unless an extension of time to file Form 5500 applies (calendar- year plans).
• Send a reminder memo or email to all employees to encourage them to review and update, if necessary, their beneficiary designations for all benefit plans.
Tags: benefits, checklist, finance, money, saving
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Thursday, August 2nd, 2018
• Begin preparing for the distribution of the plan’s Summary Annual Report to participants and beneficiaries by September 30, unless a Form 5500 extension of time
to file applies (calendar-year plans).
• Submit employee census and payroll data to the plan’s recordkeeper for mid-year compliance testing (calendar- year plans).
• Confirm that participants who terminated employment between January 1 and June 30 elected a distribution option for their plan account balance and returned their election form. Contact those whose forms were not received.
Consult your plan’s financial, legal or tax advisor regarding these and other items that may apply to your plan.
Tags: August, census, checklist, payroll, plans
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Tuesday, July 3rd, 2018
- Conduct a review of second quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments.
- Verify that employees who became eligible for the plan between April 1 and June 30 received and returned an enrollment form. Follow up for forms that were not returned.
- Ensure that the plan’s Form 5500 is submitted by July 31, unless an extension of time to file applies (calendar-year plans).
Consult your plan’s financial, legal or tax advisor regarding these and other items that may apply to your plan.
Tags: checklist, contribution, payroll, plans, repayments
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