May is Mental Health Awareness Month

Posted on May 13, 2020

May is Mental Health Awareness Month. Nearly 450 Million people worldwide are currently living with some level of mental illness including anxiety, depression and other mental health disorders. Unfortunately, only 1/3 of people with a known mental health issue ever seek treatment.

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Handling Missing or Unresponsive Plan Participants: Tips for Fiduciaries

Posted on May 7, 2020

Missing or unresponsive retirement plan participants pose a challenge for plan sponsors, who have a fiduciary responsibility under ERISA to locate them and pay benefits. In some cases, plan sponsors have the contact information for plan participants, but these individuals - for whatever reason - ignore communications and fail to start their earned benefits at retirement age.

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How the CARES Act Applies to Your Retirement Plan

Posted on Apr 20, 2020

The CARES Act expands and relaxes rules on withdrawals, participant loans, and defers mandatory distributions for participants of 401(k) and most other defined contribution plans or IRAs.

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Aligning Plan Design with Your Goals

Posted on Apr 16, 2020

We prefer to take a very different approach. We focus on aligning your retirement plan design to your specific situation. By determining the plan design that’s the right fit, you’ll be well positioned to take full advantage of the special savings and tax treatments afforded qualified retirement plans.

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IRS 5500 Extension

Posted on Apr 10, 2020

Under Notice 2020-23, released April 9, the extensions[i] generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporations, exempt organizations and other non-corporate tax filers qualify for the extra time.

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The CARES Act and Retirement Plans

Posted on Apr 1, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, in response to the coronavirus pandemic. Key provisions that pertain to retirement plans include the following: Required Minimum Distributions (RMDs), Coronavirus-related Distributions (CRDs), & Qualified Loans.

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Families First Coronavirus Response Act (FFCRA)

Posted on Mar 26, 2020

TPS Group HR Services is here to help address all of your questions with Families First Coronavirus Response Act (FFCRA) and HR needs surrounding furloughs, layoffs and Reduction in Forces (RIFs).

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CT Recovery Bridge Loan Program

Posted on Mar 26, 2020

TPS Group will continue representing the interests of you and your employees during this crisis and keep you informed of developments while providing guidance across a range of workplace issues. Read below for details on the CT Recovery Bridge Loan Program.

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IRS Extends 2019 Qualified Plan, IRA, HSA Contribution Deadlines

Posted on Mar 25, 2020

The IRS on March 24 updated its website to indicate that it has extended until July 15, 2020 the deadlines for making contributions to workplace-based retirement plans, IRAs and health savings accounts for 2019.

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Supporting Local Businesses during the Pandemic

Posted on Mar 19, 2020

As America has nearly shut down overnight due to the coronavirus pandemic, our local business community has acutely felt the loss of customers and its community. Many business owners are wondering whether they can weather the economic storm. While the precautions that have forced us indoors to stop the spread of the virus are necessary, we can still show our support for our local stores, restaurants, coffee shops, and other businesses.

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Office Locations

North Haven, CT

Tel: (203) 234-2229
Fax: (203) 234-8369

Acton, MA

Tel: (978) 369-2318
Fax: (978) 379-8481

Westbrook, ME

Tel: (207) 854-1304
Fax: (207) 854-1305

Buffalo, NY

Tel: (716) 839-9405
Fax: (716) 839-9713

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