TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – Order of Corrections Under EPCRS

  July 18, 2025 - If your client’s 401(k) plan failed the actual deferral percentage (ADP) test and experienced a missed deferral opportunity, the ADP test failure should be corrected first according to IRS guidelines (Rev. Proc. 2021-30). Correcting the ADP test failure may reduce the correction amount needed for the missed deferral opportunity. It is crucial to ensure compliance with contribution limits under IRC §§ 402(g) and 415. Continue
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  Understanding Social Security: What You Need to Know

  July 15, 2025 - Many recipients are surprised to learn that Social Security benefits may be subject to federal income tax depending on your combined income level. Coordinating Social Security with other retirement income sources—such as pensions, IRAs, or 401(k)s—is crucial for minimizing taxes and maximizing lifetime value. Taking a strategic approach to when and how you claim benefits can significantly impact your long-term financial well-being. Continue
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  Five Strategies To Support Employees During Times of Market Volatility

  July 15, 2025 - Guide employees through market volatility with clear communication, long-term investment education, financial wellness programs, diversification strategies, and digital tools. Empower your workforce to make informed decisions and maintain confidence in their retirement savings. Continue
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  CASE OF THE WEEK – Funding Children’s IRA

  July 11, 2025 - Can parents or grandparents set up Roth IRAs for their minor children/grandchildren? Learn about the key requirements, including the necessity of earned income and the role of a parent or legal guardian in establishing the account. Discover recent changes under the "One Big Beautiful Bill" impacting IRA-like accounts for minors. Continue
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  Simplify Retirement Plan Management

  July 9, 2025 - Discover TRA's Select 401(k) Pooled Employer Plan (PEP), a comprehensive and cost-effective retirement plan solution that reduces administrative costs and fiduciary risk. Benefit from enhanced features, streamlined administration, diverse investment options, and participant education resources. Continue
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  Plan Sponsors Ask…

  July 8, 2025 - Question: We are interested in any data you have regarding employees who take loans from their account. Specifically, do they tend to stop or reduce their current contributions while paying back the loan? Answer: According to Principal’s recent research report, “401(k) Loans: Debunking the Myths,” participants borrowing from their account continue to save for retirement while paying back their loan. A strong majority, 83%, continued... Continue
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  PRESS RELEASE – TRA Expands Sales Force with Appointment of Two New Regional Plan Consultants

  July 8, 2025 - TRA welcomes Dominic Trupiano and Sean Duncan as new Regional Plan Consultants (RPCs). Trupiano will cover Missouri, Kansas, and Oklahoma, while Duncan will manage the Mid-Atlantic territory, including DC, Delaware, Maryland, New Jersey, Pennsylvania, and Virginia. This strategic addition highlights TRA's commitment to delivering expert service and support nationwide. Continue
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  CASE OF THE WEEK – Mid-Year Changes to Compensation in a Safe Harbor Plan

  July 3, 2025 - Written By Jenny Kiffmeyer, J.D – The Retirement Learning Center “I have a client who operates a 401(k) safe harbor plan with a nonelective safe harbor contribution. Can the owner change the definition of compensation mid-year to remove bonuses from eligible compensation and have the plan remain a safe harbor plan if they provide a 30-day notice of the change and only apply the amended... Continue
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  CASE OF THE WEEK – Hierarchy of Pay Deductions

  June 27, 2025 - If an employer does not have a policy regarding the hierarchy of payroll withholdings, a best practice is to put one in place with the help of a tax advisor and apply it consistently. Continue
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  CASE OF THE WEEK – Sole Proprietor and PT

  June 20, 2025 - Learn about the implications of prohibited transactions (PTs) for sole proprietors with solo 401(k) plans. Understand how ERISA Titles I and II apply, the tax penalties under IRC §4975, and the necessary IRS reporting. Continue