Name: Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services
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Posts by Paul McEwan, CPA, MT, AIFA(R), Director of Benefit Plan Administration Services:
Do you know the 2012 Retirement Limits?
November 23rd, 2011Employees and individual retirement plan owners can contribute more toward their retirement benefits next year. Read the rest of this entry “
Have You Determined a Beneficiary for Your Retirement Plan?
November 11th, 2011A single dad wanted to designate his two children as beneficiaries of his retirement benefits. He mailed his beneficiary designation form to his employer with a cover letter explaining his wishes. When he died, the benefits administrator noticed the designation form wasn’t signed. Should the plan assets pass to the estate or the children? Read the rest of this entry “
Will I Be Penalized for a Hardship 401K Withdrawl?
October 17th, 2011A reader asked: I wanted to do a hardship with my 401k and was wondering if would be penalized 10 percent of the balance? I borrowed from my 401k and haven’t paid all of it back yet. Will I be able to do a hardship with remaining balance left? Read the rest of this entry “
Want to Lessen Chances of a DOL Inquiry? Ten Tips
September 21st, 2011The Department of Labor (DOL) enforces fiduciary, reporting and disclosure requirements for employee benefit plans. The agency is recruiting more investigators, so DOL investigations will be on the rise. Read the rest of this entry “
Have A Health Savings Account? Remember 2011 Reimbursement Changes
July 27th, 2011Although the 2011 expense period for your Health Reimbursement Account, Flexible Spending Account or Health Savings Account is half over, we wanted to remind you that Health Care Reform provisions in 2010 changed some of the rules, and since the additional tax on distributions that don’t qualify has increased to 20 percent in 2011, it is more important than ever to understand what expenses are eligible. Read the rest of this entry “
Determining a Retirement Beneficiary? It Isn’t Always Simple
June 20th, 2011A single dad wanted to designate his two children as beneficiaries of his retirement benefits. He mailed his beneficiary designation form to his employer with a cover letter explaining his wishes. When he later died, the benefits administrator noticed the designation form wasn’t signed. Should the plan assets pass to the estate or the children? Read the rest of this entry “
Employees on the Fence? Ten Reasons to Join Your Ohio 401(k)
June 7th, 2011In spite of recent history in the stock market, when you compare 401(k) plans to other savings plans available to employees, the 401(k) plan has many positive points. Here are ten reasons your employees should participate. Read the rest of this entry “
Saving for College? Use Sallie Mae’s New Mobile App
May 23rd, 2011If you’re saving money for college through a tax-deferred 529 plan (or you know someone who is), a new mobile app from Sallie Mae could help you add even more to the till. Read the rest of this entry “
Are you following fiduciary best practices?
May 3rd, 2011If you operate a retirement plan, you’re probably well aware that your position as a fiduciary is facing increasing scrutiny – and increasing liability and risk. In addition to increasing rules from the Department of Labor, recent lawsuits and settlements have highlighted the “significant potential liability for breach of fiduciary duty.” Read the rest of this entry “
Looking at Target Date Retirement Funds? Here Are Some Considerations
April 18th, 2011Does your company provide target date funds as an option in its 401(k) plan? Many 401(k) plans use them as the default investment for plan participants who do not select their investments under the plan. Target date funds do make investing much easier for participants by automating the asset allocation process, but they still require careful consideration both before and after the investment decision is made. Read the rest of this entry “
