Including Employees in Your Retirement Plan

September 24, 2013 at 1:12 pm Leave a comment

A trouble spot for many plan sponsors is whether to include employees or not in their retirement plans.  If there is uncertainty regarding whether an employee is an independent contract or not, the employer may not be sure what to do.  I wanted to point out a great IRS resource located at http://www.tax.gov/SmallBusinessTaxpayer/RetirementPlans/RetirementPlansMisclassificationWorkers. The video discusses types of employees and factors in the determination.  In addition, it notes that you may file an IRS Form SS-8, located at http://www.irs.gov/pub/irs-pdf/fss8.pdf, for determination of employment status.  I would also add that you may find it useful to find the expertise of an employment lawyer.

I bring up these questions to help prompt plan sponsors to consider areas to review in order to ensure their retirement plan is in compliance.

Please consider buying my book, A Short Guide to Finding a High Value, Low Fee Third Party Administrator (TPA) for Your Retirement Plan, available at amazon.com and https://www.createspace.com/3964647. My goal is to help plan sponsors make the best decision they can when selecting a  TPA. I understand how difficult a decision this can be when you do not know what skills and credentials to look for. I have created this book to ease the process and enable plan sponsors to make good choices through my insights from working in the industry.

Thanks for reading and have a wonderful day!   Please be sure to sign up for my blog and follow me on twitter.

I am not selling my own or any one else’s TPA services through this blog or my book.
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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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