The Economic Growth and Tax Relief Reconciliation Act of 2001, better known as EGTRRA, was signed by President Bush on June 7, 2001. EGTRRA made significant changes to income tax, capital gains tax, and estate and gift tax laws.
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From Service Provider to Fintech Partner – The New Direction for PenChecks
Almost 30 years ago PenChecks Trust® opened for business with the goal of solving retirement plan distribution problems for plan sponsors and third-party administrators.
The Pros and Cons of Artificial Intelligence in the Financial Services Industry
Artificial Intelligence (AI) is a rapidly growing field with the potential to revolutionize the financial services industry. In recent years, AI has been used extensively in financial services to improve the customer experience, streamline operations, and identify fraud.
SECURE 2.0 Provides New Tools to Assist Plan Participants In Crisis
The primary goal of retirement plans is to provide income at retirement, but defined contribution plans have been permitted to make some distributions while participants are employed. The most common form of distribution to participants who are younger than age 59 ½…
Five Things You Need to Know When Switching Recordkeepers
There are few things more disruptive to the peace or clarity of a 401(k) plan than a switch in recordkeepers, even when the change is instigated by a regular, thoughtful, focused evaluation of the alternatives.
Protect Your Business With A Cyberattack Incident Response Plan
A cyberattack on your business is like a serious auto accident. It only happens to someone else – until it happens to you. Fortunately, several initiatives can help prevent or significantly reduce your organization’s chance of becoming a cyberattack victim.
Retirement’s Future
I’ve spent my entire career working with retirement plans, beginning with an internship my senior year of college. Looking back over that period of time, it’s remarkable how much has changed.
Culture Drives Top Workplace for PenChecks
For the second year in a row PenChecks Trust® has been recognized as a Top Workplace in the San Diego UnionTribune’s annual “Top Workplaces” survey. We are proud to receive this award…
Avoiding Improper Retirement Plan Distributions: The DOL and the Good, the Bad and the Ugly
One of the challenges of administering a retirement plan is the timely and proper payment of distributions to plan participants. This responsibility occurs in more than one context, and can have a number of “facts and circumstances” variations.
Why You Need Cyber Security Insurance and How to Get It
In recent months, the topic of Cyber Security insurance has crept to the top of the charts for the Department of Labor’s (DOL) ERISA Advisory Council (EAC). Each year, the EAC picks topics it deems crucial to the administration of ERISA.
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