RETIREMENT RESOURCES
Articles and Updates
ABP publishes a periodic newsletter called “Benefit ByLines”. Newsletter articles are drafted with the goal of keeping ABP clients and their advisors informed about issues and events related to retirement and other employee benefit programs.
Click on any featured article or click the button to access our full list of articles and newsletters.
Client and Advisor Login
ABP clients use our secure website to answer annual questionnaires and provide information necessary for ABP to administer a plan. In addition to providing a secure way to transfer reports with sensitive data, clients and advisors are able to use our portal as an online filing cabinet to access electronic copies of the services prepared by ABP.
Annual Plan Limits
Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost-of-living adjustments and changes in the law. Many of these limits are based on the "plan year" as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.
Click to download most recent plan limits
Fidelity Bonding
Every employer who sponsors a tax-qualified retirement plan for its employees must purchase a Fidelity Bond. The purpose of the Fidelity Bond is to protect plan participants from financial losses as a result of fraud or dishonesty on the part of plan fiduciaries or others who handle plan funds. The amount of the Fidelity Bond must generally be equal to at least 10% of plan assets, subject to a minimum of $1,000 and a maximum required bond of $500,000.
Bonds can be obtained through your property casualty insurance agent. Or you can click either icon to go directly to Colonial Surety's website to obtain a quote or apply for coverage.
Payroll Integration
In many design structures today, a Plan Sponsor is assigned the task to submit payroll contributions through a recordkeeper’s website. Depending on the number of participants, this can be done manually or through a file upload. Both scenarios leave the plan sponsor open to opportunity for compliance failures through errors in manually submitting data or not submitting contributions timely. Is there a better option?
Yes. Payroll companies can sometimes integrate directly with the plan’s recordkeeper to submit contribution data without any ongoing work effort from the plan sponsor. Payroll companies who also sell 401(k) plans generally don’t offer this service unless they service your plan. Sacrificing quality consulting and administration, though, is rarely an equal tradeoff for facilitating contribution deposits.
ABP has had experience with a number of independent payroll providers, however, who seek to enhance the services provided to clients by offering comprehensive solutions like that described above. As an example, ABP has had direct experience with the contribution processing facilitation provided by Paylocity. Please don’t hesitate to contact us should have questions about payroll integration or if you want a direct introduction to your local Paylocity sales representative.
