People who participate in a retirement plan are more confident
about their ability to retire with enough money to live
comfortably when compared to people without a plan. The
most recent figures from the Employee Benefit Research Institute
(EBRI), released in its “2015 Retirement Confidence Survey,”
show that 22% of workers are now very confident they will have
enough money to live comfortably throughout their retirement
years. Twenty-eight percent of those who have money (or whose
spouse has money) in a DC plan, defined benefit plan, or an
IRA say they are very confident about living comfortably
in retirement. In contrast, just 12% of those without a plan
say the same.
You can view EBRI’s Retirement Confidence Survey at
http://www.ebri.org/surveys/rcs/.
Web Resources for Plan Sponsors
Internal Revenue Service, Employee Plans
www.irs.gov/ep
Department of Labor,
Employee Benefits Security Administration
www.dol.gov/ebsa
401(k) Help Center
www.401khelpcenter.com
PLANSPONSOR Magazine
www.plansponsor.com
BenefitsLink
www.benefitslink.com
Plan Sponsor Council of America
www.psca.org
Employee Benefits Institute of America, Inc.
www.ebia.com
Employee Benefit Research Institute
www.ebri.org
PLAN SPONSOR’S QUARTERLY CALENDAR
Who Is Confident
About Retirement?
APRIL
• If a plan audit is required in connection with the
Form 5500, make arrangements with an independent
accountant/auditor for the audit to be completed before
the Form 5500 due date (calendar-year plans).
• Audit first quarter payroll and plan deposit dates to
ensure compliance with the Department of Labor’s rules
regarding timely deposit of participant contributions and
loan repayments.
• Verify that employees who became eligible for the plan
between January 1 and March 31 received and returned
an enrollment form.
Follow up for forms that were
not returned.
MAY
• Monitor the status of the completion of Form 5500,
and, if required, a plan audit (calendar-year plans).
• Issue a reminder memo or email to all employees to
encourage them to review and update, if necessary, their
beneficiary designations for all benefit plans by which
they are covered.
• Perform a thorough annual review of the plan’s
Summary Plan Description (SPD) and other enrollment
and plan materials to verify that all information is
accurate and current, and identify cases in which
revisions are necessary.
JUNE
• Begin planning an internal audit of participant loans
granted during the first six months of the year. Check
for delinquent payments and verify that repayment terms
and amounts borrowed do not violate legal limits.
• Confirm that Form 5500, and plan audit if required,
will be completed prior to the filing deadline or that
an extension of time to file will be necessary (calendaryear plans).
• Review plan operations to determine if any qualification
failures or operational violations occurred during the first
half of the calendar year. If a failure or violation is found,
consider using an Internal Revenue Service or Department
of Labor self-correction program to resolve it.
Consult your plan’s financial, legal or tax advisor regarding
these and other items that may apply to your plan.
This information is provided by Ameritas®, which is a marketing name for subsidiaries of
Ameritas Mutual Holding Company, including, but not limited to: Ameritas Life Insurance
Corp., 5900 O Street, Lincoln, NE 68510; Ameritas Life Insurance Corp.
of New York,
(licensed in New York) 1350 Broadway, Suite 2201, New York, NY 10018; and Ameritas
Investment Corp., member FINRA/SIPC. Each company is solely responsible for its own
financial condition and contractual obligations. For more information about Ameritas®,
visit ameritas.com.
Kmotion, Inc.
is not affiliated with Ameritas®.
Ameritas® and the bison design are registered service marks of Ameritas Life Insurance
Corp. Fulfilling life® is a registered service mark of affiliate Ameritas Holding Company.
©2015 Ameritas Mutual Holding Company
Ameritas Life Insurance Corp. of New York
Retirement Plans Division
1350 Broadway, Suite 2201
New York, NY 10018
800-745-9995
ameritas.com
Kmotion, Inc., 412 Beavercreek Road, Suite 611, Oregon City, OR 97045; 877-306-5055; www.kmotion.com
© 2016 Kmotion, Inc.
This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this publication are for
general information only and are not intended to provide tax or legal advice or recommendations for any particular situation or type of retirement plan. Nothing in
this publication should be construed as legal or tax guidance; nor as the sole authority on any regulation, law, or ruling as it applies to a specific plan or situation.
Plan sponsors should always consult the plan’s legal counsel or tax advisor for advice regarding plan-specific issues.
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