Blue Ridge ESOP Associates Industry News

Getting Ready for Changes in Hardship Distribution Rules

Posted by Dolores P. Lawrence, CPA, QKA

Dec 12, 2018 2:30:00 PM

As the result of the Bipartisan Budget Act of 2018, and the subsequent issuance of proposed Treasury regulations, hardship distributions should generally be easier for participants to obtain, assuming they are covered by a plan with a hardship provision and assuming that plan sponsors are on board with the hardship provision changes that are optional.  Plan sponsors should be hearing from their recordkeepers and third party administrators regarding the default changes that will be occuring unless the plan sponsor:

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Topics: Distributions

The Importance of a Beneficiary Form

Posted by Ray Mazurowski

Dec 12, 2018 2:30:00 PM

When you are hired by a new company, one of your initial tasks may include completing various beneficiary forms for the company’s benefit plans. Most people, including myself, will fill it out and not think about my initial election anymore. Some people may overlook this and not fill one out at all. So, you may be asking yourself, what is the big deal?

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Required Minimum Distributions – What you need to know

Posted by Jessica Sinnen

Dec 12, 2018 2:30:00 PM

As we approach the end of the calendar year, it is a good idea to start thinking about getting your Required Minimum Distributions (RMDs) paid out. For ease of process some clients will include RMD payments along with their normal distribution processing for the year. For others, these payments may be processed later in the year, for reasons such as capturing newly retired employees eligible for their first RMD payment. In any case, it is important to review your plan to ensure all necessary RMD payments have been taken care of.

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Topics: Distributions

December 2018 - IRS/DOL Corner

Posted by Dolores P. Lawrence, CPA, QKA

Dec 12, 2018 2:30:00 PM

IRS/DOL Corner

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New Study Finds S ESOP Plan Participants Have Twice as Much Saved for Retirement

Posted by ESCA

Dec 6, 2018 7:59:55 AM

ESCA is pleased to highlight data from a new study by the National Center for Employee Ownership (NCEO) that finds employee stock ownership plans in private companies are instrumental in boosting retirement security, increasing workplace productivity, and establishing pride of ownership among workers.

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Happy Thanksgiving

Posted by Blue Ridge ESOP Associates

Nov 19, 2018 4:12:22 PM

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2018 Vegas Conference - Blue Ridge ESOP Associates

Posted by Blue Ridge ESOP Associates

Nov 3, 2018 9:51:02 AM

Blue Ridge ESOP Associates is committed to staying active in the ESOP Community. The Las Vegas ESOP Conference and Trade Show, sponsored by the ESOP Association, is coming up on November 8 - 9, 2018. Several of our employees will be doing presentations and attending this conference.
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Time to Celebrate - Employee Ownership Month

Posted by ESOP Association

Oct 3, 2018 6:36:32 PM

As you may already know October is Employee Ownership Month, otherwise known as ESOP Month! Many of you choose to take this opportunity to celebrate your employees and your ownership culture.

The ESOP Association (HQ) in DC will be providing tons of material via social media throughout the month. You may want to consider:

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A Pro-ESOP bill has been signed into Law.

Posted by Blue Ridge ESOP Associates

Sep 7, 2018 2:00:00 PM

On August 13th, a significant pro-ESOP bill was signed into law. The Main Street Employee Ownership Act (S. 2786) was signed into law as part of the Senate’s National Defense Authorization Act (NDAA).

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Summary Plan Description – A Participant’s Right, Your Responsibility

Posted by Maren Noll

Sep 7, 2018 2:00:00 PM

A Summary Plan Description (SPD), is a shortened version of the full Plan Document, written in a way to be easily understood by the average participant. It explains all the specific information on who is eligible to be a participant, when they can enter the plan, and how they will get contributions into their ESOP account. Additionally, it addresses the number one question participants usually have, which is how and when they can start receiving their benefits from the ESOP. Other items usually disclosed in the SPD are basic information about the plan sponsor, and action steps for questions or complaints about the ESOP.

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Experience the Leader in Personalized ESOP & 401(k) Administration

Blue Ridge ESOP Associates can provide everything you need to administer your ESOP, 401(k) or combination ESOP/401(k) plan. Our full service outsourcing, which can include participant on-line services, provides worry-free  assistance for your HR or Benefits staff, leaving them free to concentrate on other responsibilities.

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