Every year, companies and organizations are required to complete their plan's annual compliance testing. These tests are performed to ensure all employees of the organization are receiving the appropriate benefits, and that employers are adhering to ERISA and IRS rules and regulations governing retirement plans.  

While many organizations go through the proper protocols and steps to a “T,” they still can run into issues that may keep them from passing all the required compliance tests. However, it’s important to keep in mind that failing shouldn’t always be seen as a negative. Typically, it means you have a minor setback that has delayed your eventual passed test, or you simply maximized your plan’s benefit offering. If you find your company has failed any of the required compliance tests, what steps can you take to amend the results?

Effective January 1, 2021 the IRS announced the 2021 Pension Plan Limitations. These changes will take effect in the upcoming tax year for retirement plans. 

Check out our infographic that details all the changes you'll want to be aware of in the upcoming year when it comes to your role managing an employer-sponsored retirement plan. 

As of October 27, 2016 the IRS announced the 2017 Pension Plan Limitations. These changes will take effect in the upcoming tax year for retirement plans. 

Check out our infographic that details all the changes you'll want to be aware of in the upcoming year when it comes to your role managing an employer-sponsored retirement plan.