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RELATED RESOURCES

eBook: Business succession planning: Protecting your financial security and your company’s future

Assuming a significant portion of the assets that you have accumulated are in the form of a privately held business, planning is important, and so is timing Unfortunately, life doesn’t come with guarantees. That calls for contingency planning to make sure that you or your family receive a realistic value for the equity stake you have in your business in the event of the unexpected.

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The veiled risk: A look at cybersecurity, liability and your 401(k) plan

Experts fear that the risks a cyber security breach of a retirement plan or its provider could prove more detrimental than past breaches because of the direct tie between personally identifiable information and a retirement plan’s assets. Congress thinks so too. In February 2019, Senator Patty Murray, D-Washington, and Congressman Bobby Scott, D-Virginia, sent a letter to the U.S. Government Accountability Office (GAO), requesting that the GAO examine the cybersecurity of the retirement system.

Understanding the basics of 401(k) nondiscrimination testing

A benefit plan must not discriminate in favor of highly compensated employees (HCEs) and key employees with respect to eligibility, contributions, or benefits. To ensure compliance, all 401(k) plan sponsors should understand the basics of nondiscrimination testing and, considering the complexity of the rules, make sure this critical duty is being done right. Even if a plan sponsor relies on a third-party administrator (TPA) to perform the nondiscrimination testing, the plan sponsor is responsible for the consequences of noncompliance, which could include tax consequences for plan member investments.