Common Mistakes with 401(k) Plan Loans
IRS section 401(k) plans are the most popular retirement plan in the United States, with over 60 million employees opting to receive coverage. Despite this, some employers fall short of adhering to the plan’s requirements. The following are common mistakes employers make with 401(k) plan loans and corrective actions needed to keep costs down and […]
DOL Increases Civil Penalty Amounts for 2024
The Department of Labor (DOL) has released its 2024 inflation-adjusted civil penalty amounts that may be assessed on employers for violations of a wide range of federal laws, including: The Fair Labor Standards Act (FLSA); The Employee Retirement Income Security Act (ERISA); and The Family and Medical Leave Act (FMLA) To maintain their deterrent effect, […]