TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – Cash Balance Plan and Successor Plan Rules

  October 25, 2024 - There is no successor plan rule that applies to defined benefit plans, including cash balance plans. Further, the IRS does not consider a cash balance plan as a successor plan for a terminated 401(k) plan. All plans are subject to permanency rules. Continue
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  Plan Sponsors Ask…

  October 22, 2024 - With over 90 provisions, SECURE Act 2.0 is the largest retirement legislation in history. Many plan sponsors still need support, as less than half know which provisions are mandatory or optional, and 52% are unclear on the timeline, according to UBS Workplace Voice. Continue
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  Trial Running Retirement Plans

  October 22, 2024 - By implementing these strategies, retirees can embark on a purposeful and secure retirement journey. Start exploring these opportunities today to make the most of your retirement years. Continue
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  CASE OF THE WEEK – Update to DOL’s Cybersecurity Guidance

  October 18, 2024 - Discover EBSA’s updated 2021 cybersecurity guidance for all ERISA plans, including health and welfare. Essential for plan advisors, employers, sponsors, and participants, this update emphasizes the importance of incorporating cybersecurity into regular meeting agendas and adapting vendor selection processes. Ensure your plan's compliance and security with these crucial updates. Continue
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  Give Your Plan a Retirement Wellness Exam

  October 15, 2024 - Prioritize employee retirement readiness with this high-level guideline. Explore key features like automatic enrollment, employer contributions, financial education, diverse investment options, Social Security optimization tools, and Health Savings Accounts (HSAs). Ensure continuous monitoring and adjustments for optimal plan performance. Continue
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  Why Defined Benefit Pensions Still Matter

  October 15, 2024 - While DB pensions face challenges, they remain vital for retirement security. With supportive policies and renewed legislative interest, pensions can continue to provide stable and reliable income for retirees, ensuring broader access to financial well-being in retirement. Continue
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  CASE OF THE WEEK – Stock Lots and NUA

  October 11, 2024 - Due to the complexity of an NUA election, plan participants are advised to consult their tax professionals for personalized advice. With the necessary stock lot purchase records from the plan, participants may have the option to choose specific stock lots for an NUA election, provided all other requirements for the NUA tax strategy are met. Continue
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  Plan Sponsors Ask…

  October 9, 2024 - Our plan committee is exploring the addition of lifetime income options in 2025 based on employee feedback. Seeking advice on evaluating the pros and cons, fiduciary responsibilities, and risks involved. Continue
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  Notable Tips on Employer Roth Contributions

  October 8, 2024 - While the SECURE 2.0 Act offers significant flexibility, it also introduces complexities requiring careful administration and clear communication to ensure compliance and successful implementation. Ongoing IRS guidance clarification, such as through IRS Notice 2023-62, supports reporting on Form 1099-R rather than W-2, easing payroll impacts aside from withholding adjustments. Continue
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  CASE OF THE WEEK – Life Insurance In Qualified Plans

  October 4, 2024 - Discover if your qualified retirement plan permits participants to include life insurance. Review the plan's terms to confirm this option and ensure compliance with nondiscrimination and incidental benefit regulations. Continue