Articles

Posted on Jun 13, 2020

During a furlough, an employee remains employed and usually remains eligible for benefits (depending on the terms of the employer’s policies and plan documents). Employees are not eligible to take FMLA during a furlough as there is no work schedule from which to take FMLA leave.

Posted on Jun 4, 2020

As the engines of the economy restart in phases, many business leaders are grappling with concerns about the welfare and safety of their employees and customers. It’s no secret that the pandemic has caused stress and wreaked havoc on many people’s mental health. Social isolation, school closures, unemployment, and other disruptions have increased levels of stress and anxiety for many.

Posted on May 27, 2020

CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of TPS Group, headquartered in North Haven, CT as adhering to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers.

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.

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.

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.

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.

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.

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.

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).