• CASE OF THE WEEK – ERISA Budget Accounts
    June 23, 2023 - Is it permissible for a plan sponsor to utilize the ERISA Budget Account within the company's 401(k) plan to finance employer contributions? The ERISA Budget Account within a 401(k) plan can be utilized by the plan sponsor to cover plan administrative expenses, excluding settlor expenses. However, it cannot be used to offset employer contributions. To determine the specific guidelines regarding the use of revenue sharing payments, it is advisable to refer to the terms outlined in the governing plan document. Continue
  • CASE OF THE WEEK – When does a 401(k) deferral become a catch-up contribution?
    June 2, 2023 - There may be more to catch-up contributions than the average person realizes. An employee salary deferral becomes a catch-up contribution when it exceeds the lowest of a legal limit, a plan-imposed limit or the ADP limit. Continue

Consider TRA's 3(16) Fiduciary Services & Plan Administration

To alleviate the day-to-day administrative burdens of yours or your clients retirement plans.