Related Articles

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  Understanding Financial Statement Audits

  While we hope you never have had to experience it, you’re no doubt familiar with the idea of an audit of your personal or corporate tax return. But, you may not be familiar with an audit of your qualified retirement plan. This Spectrum Employer Connect video explains the situations where a financial statement audit may be required. Understanding when and for whom these audits are required can help ease your concerns over the prospect of a plan audit.
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  Understanding How Forfeitures Work in Your Retirement Plan

  We know that employee contributions to a 401(k) plan must always be 100% vested. However, employer contributions may have a vesting schedule attached to them. That means, when employees leave the company and plan, they may leave behind forfeitures. This Spectrum Employer Connect video highlights the advantages of using vesting for employer contributions. And we also discuss the most common methods for treating plan forfeitures.
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  Understanding the Differences Between ERISA Bonds and Fiduciary Bonds

  We have found at Spectrum that plan sponsors and the advisors who work with them may sometimes be confused about the differences between ERISA Bonds and Fiduciary Bonds. With this in mind, here is a quick overview of the distinctions and why understanding them is key for effective retirement plan risk management.
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  Tax Talk - Q4 Edition

  In this issue of Tax Talk, Spectrum updates you on important compliance deadlines coming up for defined contribution plans and provides a quick reminder to use your plan forfeitures no later than the end of the plan year following the plan year during which the forfeiture occurred.
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  Retirement Plan Provider Guide

  Workplace retirement plans can be complicated. The compliance rules, investments, reporting, tax forms, and terminology are enough to make any plan sponsor’s head spin. Even the roles of service providers can be confusing. Our retirement plan provider guide enables plan sponsors to tear up all those business cards and get to the root of what each service provider does.
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  Tax Talk - Fall 2023

  In this issue of Tax Talk, Spectrum updates you on important compliance deadlines coming up for defined contribution plans and provides a quick reminder about amending your plan document for any discretionary changes implemented during the year. The calendar below assumes that a plan is being administered on a calendar year basis.