TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – Sources of Retirement Income

  May 27, 2022 - Nowadays, the primary sources of retirement income come from a person’s defined contribution plans and IRAs, Social Security benefits and workplace earnings. How to convert retirement plan and IRA balances into a reliable stream of retirement income is the next critical issue that needs innovative solutions. Continue
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  Plan Sponsors Ask…

  May 24, 2022 - The money must be moved into the plan’s forfeiture or suspense account, where it can be used to a) Cover other employer contributions already payable by the plan, b) Restore the accounts of rehired employees, subject to certain criteria, c) Pay ERISA-approved plan expenses, d) Make additional employer contributions for existing plan. Continue
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  CASE OF THE WEEK – Fiduciary Investigation Guidelines

  May 20, 2022 - Plan sponsors can use the DOL’s FIP as a guide for conducting their own fiduciary reviews to uncover any potential deficiencies in their plans and implement remedies before the DOL targets them for formal investigations. For plan sponsors who have already been notified of a pending investigation, the FIP can give them an idea of what to expect. Continue
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  An Easy Way To Reduce Employee Financial Stress

  May 17, 2022 - More than half (54%) of employees report their retirement savings are the only significant emergency savings they have. Continue
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  CASE OF THE WEEK – Auditor’s Report “Disclaimer of Opinion” for Form 5500 Filings

  May 13, 2022 - Limited scope audits associated with IRS Form 5500s have a new name and scope because of changes that are effective starting with the 2021 filing year in most cases. A plan sponsor’s ability to elect such an audit continues. The new rules change what is expected of the plan auditor. Make sure the plan has an experienced auditor who is keenly aware of the new expectations. Continue
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  CASE OF THE WEEK – Roth IRA vs. Designated Roth 401(k)

  May 6, 2022 - While both Roth IRAs and designated Roth 401(k) plan contributions offer the potential for tax-free withdrawals, there are several key differences between the two arrangements. Whether one, the other or both may be right for a particular investor depends on the individual’s circumstances and goals and should be determined based on a thorough conversation between the investor and his or her tax advisor. Continue
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  PRESS RELEASE – TRA Appoints Brian Flynn As New Regional Sales Consultant

  May 3, 2022 - Flynn has nearly 20 years of expertise in the retirement services industry and has held several sales and leadership roles with some of the industry’s biggest and most well-known companies, including: Ameritas, John Hancock Retirement Plan Services, and Watson Wyatt Worldwide. Continue
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  In the Driver’s Seat

  May 3, 2022 - Aon surveyed 12 top carriers for fiduciary liability insurance to understand their views on the biggest sources of fiduciary risk within the control of fiduciaries for defined benefit (DB) and defined contribution (DC) plans subject to ERISA. Continue