Resources

Resources2019-11-07T19:45:14+00:00

Resources

Load More Posts

What will participants see on their quarterly statements?

All fees that are deducted directly from a participant’s account during the quarter will be reflected on their statement. This will include such items as fees for loans, distributions, fees for recordkeeping, and any other fees associated with plan administration (i.e. investment advisory, trustee/custody, etc.)

What will the annual notice contain?

Each year, participants must receive information on the costs associated with the investments in the plan. The annual disclosure will contain information including management and investment fees charged by the funds, investment performance, and the cost for each $1,000 invested in the funds. Additionally, the website indicates where employees can access information about the funds which must be included.

How will the annual disclosure information be delivered?

The most common form of annual disclosure delivery will be printed materials, which will be mailed. The annual disclosure can be delivered electronically, however, current Department of Labor guidance makes it difficult to use email as a delivery method.

Annual Compensation and Contribution Limits for Qualified Retirement Plans

2020 2019
401(k) and 403(b) Deferral Limit 19,500 19,000
457 Deferral Limit 19,500 19,000
401(k), 403(b), 457 Catch-up Contribution Limit 6,500 6,000
SIMPLE Deferral Limit 13,500 13,000
SIMPLE Catch-up Contribution Limit 3,000 3,000
Annual Compensation Limit 285,000 280,000
Defined Benefit 415 Limit 230,000 225,000
Defined Contribution 415 Limit 57,000 56,000
Dollar Limit for HCEs 130,000 125,000
Dollar Limit for Key Employee 185,000 180,000
Social Security Taxable Wage Base 137,700 132,900

Annual Compensation and Contribution Limits for Qualified Retirement Plans

Scroll within window to view all

2020 2019
401(k) and 403(b) Deferral Limit 19,500 19,000
457 Deferral Limit 19,500 19,000
401(k), 403(b), 457 Catch-up Contribution Limit 6,500 6,000
SIMPLE Deferral Limit 13,500 13,000
SIMPLE Catch-up Contribution Limit 3,000 3,000
Annual Compensation Limit 285,000 280,000
Defined Benefit 415 Limit 230,000 225,000
Defined Contribution 415 Limit 57,000 56,000
Dollar Limit for HCEs 130,000 125,000
Dollar Limit for Key Employee 185,000 180,000
Social Security Taxable Wage Base 137,700 132,900