Blue Ridge ESOP Associates Industry News

Lunch Seminar: Cybersecurity in the Retirement Plan World

Posted by Blue Ridge ESOP Associates

Oct 3, 2017 10:00:00 AM

Blue Ridge invites you to join us at the next Central Virginia Employee Benefits Council (CVEBC) lunch seminar in Richmond, VA, on October 18th – 12:00-1:30 at Williams Mullen downtown. Duane Gran, our Director of Information Systems, will be covering the topic “Cybersecurity in the Retirement Plan World”. Employers put tremendous trust in their third party administrator to safeguard sensitive employee records.  In this interactive discussion learn about the questions you should ask of your TPA to hold them to a high standard for IT Security.

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2017 California/Western States ESOP Fall Conference

Posted by Blue Ridge ESOP Associates

Sep 26, 2017 2:00:00 PM

The California/Western States Chapter 2017 Fall Conference will be October 11-13, 2017 in San Diego, CA. At this conference, stop by our table to visit with our business development representative, Marie Sherlock. On Thursday afternoon, you will have the opportunity to attend a roundtable discussion about Administration issues led by Mason Monson.
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Topics: ESOP Administration, Conferences

2017 New England ESOP Fall Conference

Posted by Blue Ridge ESOP Associates

Sep 22, 2017 2:00:00 PM

The New England Chapter 2017 Fall Conference will be October 5-6, 2017 in Killington, VT. At this conference, stop by our table to visit with our business development representative, Tom Roback. On Friday morning, Jon Williams will be presenting at the technical session, "Diversification: Understanding its Dynamics & Impacts to Employee Owners".
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Topics: ESOP Administration, Conferences

New South & Carolinas Chapters Fall ESOP Conference

Posted by Blue Ridge ESOP Associates

Sep 19, 2017 10:00:00 AM

If you're attending the New South & Carolinas Chapter Fall ESOP Conference this week, make sure to find Tom Roback who will be happy to discuss with you what services Blue Ridge offers to manage your ESOP & 401k the smart way. You will have the opportunity to hear Dolores Lawrence speak about some Hot Topics in the ESOP Community. Renee Stadtmueller will also be presenting about "Diversification - Trends Beyond Statutory Requirements".
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2017 Southwest ESOP Conference

Posted by Blue Ridge ESOP Associates

Sep 18, 2017 10:00:00 AM

The Southwest Chapter 2017 Fall Conference will be September 29, 2017. Due to Hurricane Harvey, the location has been moved to the Omni Fort Worth Hotel, and you can register here At this conference you will have the opportunity to hear Kevin Rusch speak about "Mature ESOP Issues: Rebalance, Reshuffle, Recyle and Redemption" which will focus on the 4 "R's", reviewing definitions as well as practical application and numerical examples of how the provisions work as well as impact on repurchase obligation.
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Topics: Repurchase Obligation, ESOP Administration, Conferences

2017 Northwest ESOP Fall Conference

Posted by Blue Ridge ESOP Associates

Sep 15, 2017 2:00:00 PM

The Northwest Chapter 2017 Fall Conference will be September 28-29, 2017 in Portland, OR. At this conference, stop by our table to visit with our business development representative, Marie Sherlock. On Friday morning, you will have the opportunity to attend a roundtable discussion led by Randy Shrake.
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Topics: ESOP Administration, Conferences

Upcoming 2017 Fall Conferences

Posted by Blue Ridge ESOP Associates

Sep 14, 2017 11:34:56 AM

Upcoming Technical Presentations
by Blue Ridge Professionals
 
2017 Fall ESOP Conference - Nashville, TN (Sold Out) 
New South & Carolinas Chapter of The ESOP Association
September 20-21,2017
"Hot Topics"
" Diversification - Trends Beyond Statutory Requirements"
Northwest Chapter of The ESOP Association
September 28-29, 2017
Roundtable Discussions  
Southwest Chapter of The ESOP Association 
September 29, 2017 
"Mature ESOP Issues: Rebalance, Reshuffle, Recycle and Redemption
   
NCEO     
October 3-4, 2017
"ESOP Distribution and Diversification Practices"
New England Chapter of The ESOP Association
October 5-6, 2017
"Diversification - Understanding its Dynamics & Impacts to Employee Owners"
    
California/Western States Chapter of The ESOP Association
October 11-13, 2017 
Roundtable Discussion: Administration Issues 
 
Mid-Atlantic Chapter of The ESOP Association 
October 26-27, 2017 
"Rebalancing, Reshuffling & Re-leveraging"  
The ESOP Association
November 9-10, 2017

"ESOP Jeopardy"
Thursday, 8:40 a.m.

"ESOP Administration: Part 1 (Basic)"
Thursday, 8:40 a.m.

"ESOP Distributions: Part 1 (Basis)"
Thursday, 2:50 p.m.

"ESOP Distributions: Part 2 (Advanced)"
Thursday, 4:00 p.m.

"Segregation of Terminated Participant Accounts"
Friday, 2:00 p.m. 
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IRS/DOL Corner - Hurricane Relief

Posted by Dolores P. Lawrence, CPA, QKA

Sep 8, 2017 2:00:00 PM

Given the tremendous devastation caused by Hurricane Harvey, the IRS has issued two relief declarations that may be of interest to plan sponsors.  The first extends to January 31, 2018 the time for filing Form 5500 and certain other returns that would otherwise become due for filing between August 23, 2017 and January 31, 2018.  Affected employers are those in the counties covered by the relief announcement (listed on the IRS website) and those who are unable to complete filings because they can’t obtain required filing data from a bank or other service provider in the covered areas. The IRS news release is at https://www.irs.gov/newsroom/tax-relief-for-victims-of-hurricane-harvey-in-texas

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Lost Participants

Posted by Nathan Charette

Sep 8, 2017 2:00:00 PM

There was a participant who moved away.
Where has he gone?  He didn’t say.
Our paths never cross.
And now he’s lost.
He’s due some money. But how can I pay?

Especially for plans that have a period of delay prior to distributing participant balances, it is only a matter of time before you may come across a former participant with a vested balance that you are unable to contact.  When mail comes back as undeliverable, and the phone number on record no longer belongs to the former employee, what further action is required?  Finding missing participants can be a challenge.  Fortunately there are guidelines for a fiduciary to follow and your third party administrator is happy to assist with the process.

First, check the plan document. This advice rings true for just about every issue that may arise with a qualified retirement plan.  Your plan document may include the steps to be taken to locate a lost participant and the steps to be taken if the participant cannot be found. 

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Communicate the ESOP Advantage to Recruit and Retain Employees

Posted by Blue Ridge ESOP Associates

Sep 8, 2017 2:00:00 PM

The US economy added 209,000 jobs in July, dropping the unemployment rate to 4.3%, the lowest level in sixteen years. It’s no secret that it’s getting more difficult to recruit and retain employees. Employee ownership gives you a clear advantage against the competition, but only if you effectively communicate its benefits to current and potential employees.

Here’s three practical ideas you can integrate into your written, electronic, video, and face-to-face communications to gain the employee ownership’s recruitment and retention dividends.

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Topics: ESOP Communications