SEPs worth consideration by smaller employers

Article Abstract:

Small- and medium-sized employers that are not able to deal with the cost and complexity of most qualified retirement plans can simply establish a Simplified Employee Pension (SEP) plan. The implementation and administration of the SEP is less expensive and requires less paperwork than conventional Keogh or corporate qualified pension and profit-sharing plans. Two instruments used by a SEP plan are the SEP agreement completed by an employer and the individual retirement account established by employee participants. The advantages and disadvantages of an SEP are discussed.

Evaluation, Compensation and benefits, Small business, Simplified employee pensions

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The top 10 pitfalls in managing ERISA plans

Article Abstract:

Employers commit 10 common mistakes in managing their Employee Retirement Income Security Act (ERISA) plans. These include the failure to classify plans as 'pension plans,' non-compliance with ERISA's reporting and disclosure requirements, failure to realize the fiduciary responsibilities of being an ERISA plan sponsor, improper administration of an ERISA plan and failure to clarify ambiguous terms in plan documents.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Pension & Benefit Regulation

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How to recover overpaid pension benefits

Article Abstract:

Pension management experts were asked to give advice on problems encountered by practitioners. The problems included recovery of overpaid pension benefits, consequences of including life insurance as an investment option in 401(k) plans, application of death benefit exclusion and risks involved in discussing investment fund options in enrollment meetings.

Methods, Compensation management

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