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As we prepare for the final month of summer, August arrives with new employee retirement benefit deadlines. Thank you, as always, to our friends at IslerDare PC for providing us timely reminders and permitting us to share them with readers of Deferred Compensation News.
August Benefits Deadlines due August 14, 2021
- Confirm 401(k)/403(b) plan recordkeepers have provided second quarter benefit statements to participants, including fee disclosure information
- File Form 990 returns for tax-exempt trusts or VEBAs*, assuming Form 8868 was filed to extend due date (or file a second Form 8868 to request an extension of the due date to November 15)
- Hold quarterly meeting of Benefits Committee to review investment performance, fees, plan administration data, and plan operational issues for quarter ending June 30
- Review ERISA** fidelity bond coverage and fiduciary liability insurance coverage levels with risk management, and renew or change as appropriate
- Schedule 401(k)/403(b) education seminars for employees to be held in the Fall
*VEBAs – Voluntary Employees Beneficiary Association
**ERISA – Employee Retirement Income Security Act
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Any tax advice contained herein is of a general nature. You should seek specific advice from your tax professional before pursuing any idea contemplated herein.
Securities offered through Lion Street Financial, LLC (LSF) and Valmark Securities, Inc. (VSI), each a member of FINRA and SIPC. Investment advisory services offered through Lion Street Advisors, LLC (LSA) and Valmark Advisers, Inc. (VAI), each an SEC registered investment advisor. Please refer to your investment advisory agreement and the Form ADV disclosures provided to you for more information. VAI/VSI and LSF/LSA are non-affiliated entities and separate entities from OneDigital and Fulcrum Partners.
Unless otherwise noted, VAI/VSI, LSF/LSA are not affiliated, associated, authorized, endorsed by, or in any way officially connected with any other company, agency or government agency identified or referenced in this document.
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