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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  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.
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  New Department of Labor Fiduciary Rule: Protecting Retirement Security

  In a continued effort to enhance investor protection and promote transparency when it comes to financial advice, the Department of Labor (DOL) has introduced a new fiduciary rule. The proposed DOL rule, called the Retirement Security Rule: Definition of an Investment Advice Fiduciary, updates the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). This regulation places a heightened emphasis on the best interests of plan participants who rely on financial service providers for advice.
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  Newly Implemented Cloud Technologies Improve Client Outcomes

  Spectrum Pension Consultants, Inc. has deployed new cloud technology solutions designed to support employer organizations and deliver improved outcomes for their workforce.