Pension Plan Professionals, Inc.
Professionals in pension plan design and administration

CURRENT HOT TOPICS:

We are pleased to announce that the Centre for Fiduciary Excellence, LLC ("CEFEX") has certified Pension Plan Professionals, Inc. of Jacksonville, FL as adhering to the Standard of Practice for Recordkeepers.   CEFEX News Release 

 

Additionally, two members of our staff were among the first in Florida to obtain the Enrolled Retirement Plan Agent (ERPA) designation. As such, they are authorized to represent Clients in front of the IRS on retirement plan matters.

 

Newsletters from P3 will be appearing in your e-mail inbox soon.  Watch for upcoming issues!!  If you know someone who would like to receive copies of the Newsletter have them forward their email address to P3PensionNews@pensionplanonline.com.

 

MATERIAL OF NOTE:

 

1. UPDATED FOR 2011 - IRS-Indexed Dollar Limitations:   IRS Index Dollar Limits
  •  The maximum annual addition to defined contribution plans is the lesser of 100% of Compensation or $49,000 for 2011, which is the same as the 2010 limit.

 

  • The 2011 Salary Deferral 401(k) limit remains the same at $16,500. The 401k Catch-up limit of $5,500 for 2011 remains the same as in 2010. (Catch-up 401(k) is available for participants who are 50 and over, and who have contributed the maximum 401k.)

 

  • The standard Compensation limit for 2011 is $245,000, which is the same as the 2010 limit of $245,000.

 

  • The maximum annual benefit from a defined benfit plan remains the same for 2011 as in 2010 at $195,000

 

2. Roth 401(k) Summary: A brief one page commentary for clients and advisors concerning the Roth 401(k). Roth 401(k); Roth 401k Election Form

 

3. Safe Harbor Guidance: A brief description of the types of safe harbor contributions on one page. This includes Safe Harbor Non Elective Contribution; Safe Harbor Matching Contribution; and Safe Harbor Enhanced Match Contribution for easy reading and understanding.  Safe Harbor Elections

 

 

COMMENTS ON DEVELOPMENTS IN THE PENSION FIELD

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OPERATIONAL GUIDANCE:

 

1. ERISA 404 Duties of a Plan Fiduciary: Summary of the 404(c) and fiduciary liability under a plan.

 Fiduciary Liability and 404(c)

 

2. Fidelity Bond Requirements:  Brief summary of the bonding requirements under ERISA and DOL. 

 Fidelity Bonds

 

 

If you have any questions or comments please contact Dale Smith at the following email address: Dale@pensionplanonline.com