3(16) Plan Administrators

The IRS has announced new contribution limits for 401(k) plans in 2025, offering savers an opportunity to boost their retirement funds. Starting in 2025, ...

Click here to download or print this document as a PDF.

October is National Retirement Security Month, an annual campaign to raise awareness about retirement planning. This initiative offers employers a unique ...

Originally published by the National Institute of Pension Administrators. Download the original PDF here. The mission of a Third Party Administrator ...

Carl and Terri, a couple in their early 60s, had been saving for retirement for over 30 years. They planned to live off their retirement savings, supplemented ...

Al and Maria, both in their early thirties, had been diligently contributing to their retirement accounts since their mid-twenties. They were renting a ...

Retirement planning is crucial for financial security, but women often face unique hurdles that can complicate this process. Understanding and addressing ...

Retirement is meant to be a time to enjoy the rewards of your years of hard work. Unfortunately, it can also make you a target for fraudsters, and scams ...

On September 23, 2024, the Retirement Security Rule will take effect, a pivotal regulatory update issued by the U.S. Department of Labor (DOL) aimed at ...

Cybersecurity is critically important for retirement accounts due to the substantial financial resources and sensitive personal data they contain. Retirement ...

This is an “IRS Rollover Chart” as it related to retirement plans and IRAs. Click here to download the chart as a PDF.  

Retiring abroad can be an attractive option for individuals seeking a change of scenery, a lower cost of living, or new cultural experiences and adventures ...

Jordan and Lisa both had high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs) through their employers. Throughout their working years, ...

January is an opportune time to reflect on our financial habits and set the stage for a secure and prosperous future. Financial planning is not just about ...

In the dynamic landscape of personal finance, each generation brings its unique approach to savings, shaped by the economic and political climate, societal ...

As part of the SECURE Act, Long-Term, Part-Time (“LTPT”) rules were created in 2019. Effective for plan years beginning after 12/31/2020, 401(k) plans ...

After housing and food, health care is one of the largest expenses you can expect in retirement. According to Fidelity Investments, a 65-year-old retiring ...

If you’re an employer with a SIMPLE IRA plan for your workforce and want to switch to a 401(k) profit-sharing plan beginning January 1, 2024, the deadline ...

The Internal Revenue Service (IRS) has just granted a two-year delay of the provisions in the SECURE 2.0 Act addressing Roth catch-up contributions. Specifically, ...

Between an unexpected major car repair, looming tuition bills for the kids, and ballooning credit card debt, Andy and his wife were financially strained. ...

While it’s true that many private companies have switched from defined benefit plans to defined contribution plans (such as 401(k) plans), it’s worth considering ...

The pre-tax advantages of a 401(k) plan make it a very effective way for employees to save for retirement and lower their tax burden. Since taxes on a ...

With 2023 right on the horizon, now is a good time for employers to review whether their retirement plans are still in alignment with their business needs ...

The Employee Retirement Income Security Act (ERISA) is a federal law that sets rules and standards of conduct for most voluntarily established retirement ...

It’s important for employers to understand and meet their 401(k) fiduciary responsibilities and comply with ERISA rules to ensure the proper management ...

This month, the IRS extended the deadlines to adopt certain retirement plan amendments for most plans. Notice 2022-33 provides plan sponsors with an extension ...

ERISA's stringent requirements for Plan Sponsors have made the administration of retirement plans even more complex and subject to legal challenges. Now ...

It happens every minute of every day, in all types of businesses around the country: an employee receives a fake email and unwittingly clicks on a link ...

The Employee Retirement Income Security Act known as “ERISA” regulates 401(k) and most other types of employee benefit plans. Under ERISA, anyone who handles ...

The volatility in the financial markets have many 401(k) plan participants asking for guidance on how to weather the storm and manage their assets. Charles ...

A 33-year-old single mother, Karina paid little attention to her employer’s notices about the company’s 401(k) retirement plan. Retirement seemed like ...

On March 30, 2022, Senators John Barrasso (R-WY) and Tom Carper (D-DE) introduced the bi-partisan Starter-K Act in the Senate. This bill allows employers ...

Connecticut has implemented a mandatory program called MyCTSavings for employers with 5 employees or more who do not currently have a retirement plan in ...

Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. A cash balance ...

Retirement plans can help employers attract and retain workers and improve morale. If you’re a small business owner considering a qualified retirement ...

Paid Leave Connecticut employers have been (or should have been) withholding a small percentage of employees’ salaries this year to contribute to the ...

When a 401k plan includes a Roth option, participants who are eligible to make traditional pre-tax 401k deferrals are also eligible to make Roth after-tax ...

In the fourth edition of the Phishing and Fraud Report, it was discovered that phishing incidents rose 220% during the height of the global pandemic compared ...

This notice explains how you may be able to pay less tax by contributing to your Employer’s Plan or to an individual retirement arrangement (“IRA”). If ...

A required minimum distribution, or RMD, is the minimum amount that must be withdrawn each year from a retirement account such as an IRA, 401(K), 403(B) ...

Offering an attractive 401(k) plan is important to attract and retain good employees, but just as important is effective administration of the plan. Hiring ...

3(16) Fiduciary Service and Why You Should Care People who exercise control and authority over the management of a retirement plan's assets are fiduciaries. ...

With TPS 3(16) Service, LLC as the 3(16) fiduciary, employers can rest easy knowing that all plan decisions are made in the best interest of the participants. Does ...

Key Facts Employers Need to Know Employers who offer 401(k) Profit Sharing Plans must meet standards of conduct and practice under ERISA, but misconceptions ...