Randall + Hurley July Newsletter [iframe src="https://eepurl.com/b-QuTT" width="100%" height="800"]

Plan documents and participant forms Downloading important plan documents and participant forms has never been easier. In most cases, you can access these documents from our website using the attached instructions. You may want to keep a copy of these instructions with your HR Policies and Procedures manual.

Approving Hardship Distributions If your plan allows participants to receive hardship distributions or loans for hardship purposes, the plan sponsor must (1) ensure the participant satisfies the requirements of a hardship distribution and (2) obtain documentation to support that claim. The plan document sets forth specific criteria used to determine a hardship, such as medical [...]

Saver's Credit Employees with low-to-moderate income should be aware of the Saver's Credit. This tax credit enables them to save for retirement and save on taxes. We encourage you to share this one-page flyer with your employees.  

Friday, July 1st - Our office will be closed at 2pm for the holiday weekend. Monday, July 4th - The markets, as well as our Randall + Hurley office, will be closed for the 4th of July. Wishing everyone a happy and safe Independence Day!

Randall + Hurley May Newsletter [iframe src="https://eepurl.com/b3k-Wv" width="100%" height="800"]

HOW TO SUBMIT FEDERAL TAX WITHHOLDING When a participant receives a taxable distribution from the plan, the IRS requires a minimum of 20% be withheld from the distribution for federal income tax withholding. This amount must be remitted to the IRS. In many cases, your investment custodian performs this task for you. But if not, [...]

As an industry-leader, we’ve spent countless hours educating plan participants and encouraging them to save for retirement. We provide education on an alphabet soup of retirement jargon--tax advantages, compound interest, automatic enrollment, asset allocation, capital preservation and more. However, there are often other issues that affect an employee’s ability to contribute to the plan—credit card [...]

You might have seen coverage in the news media about money market reform. Since these rules go into effect in October, the topic is getting more coverage. The SEC has imposed these new rule amendments to address potential financial instability caused by money market funds. The changes are complicated and include liquidity fees and redemption [...]