is your 401(k) plan top heavy?

Top Heavy Testing for Defined Contribution Plans

Qualified retirement plans are required to run compliance tests each year. This includes, but is not limited to, Top Heavy testing. Hopefully, this compliance test is being performed by a qualified TPA, like TriStar, to ensure that the retirement plan doesn’t run afoul of the rules and lose its very beneficial tax-qualified status. If it…

14 Years of Failed 401(k) Testing…This is no April Fool’s Joke

We once took over a retirement plan from another Third Party Administrator. The business sponsoring the plan was a small family owned business with several family members working in the business and few rank and file employees. During the transfer process, we assessed the plan design and encouraged this client to switch to a Safe…

Understanding Highly Compensated Employees

Highly Compensated Employees (HCEs) must be identified every plan year in order to perform the required non-discrimination testing. Non-discrimination testing was put into place to ensure all employees benefit from the company retirement plan. This concept of ‘fairness’ is intended for the greater good of all of those in the plan, however, sometimes this testing…