For retirement plans on a calendar year cycle, the close of the previous year means an important compliance deadline is approaching. You’ll soon need to submit the information necessary to complete annual year-end testing. The vendor(s) that service your retirement plan have likely reached out to you via email or their plan sponsor message center to request the necessary census and questionnaire data. The data, format, and submission requirements vary depending on your service provider and plan structure, so it’s important to follow your vendor’s instructions to ensure complete, accurate, and timely data submission.

Most vendors require this information to be submitted before February 1st to ensure all testing is completed and results are provided before March 15th. Late data submissions could delay the testing process and result in an excise tax for any corrective refunds taking place after the March 15th deadline. If we can be of any assistance or if you have any questions regarding this process, please feel free to reach out to a member of the Assurance Financial Services team.

In addition, we are releasing our 2019 Limits Guide, which details limits pertaining to retirement-related benefits. Please keep this as an easy reference chart, and feel welcome to reach out to a member of the Assurance Financial Services team or your document recordkeeper for plan specific definitional information.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Assurance Financial Services, Ltd (AFS)  and Assurance Agency, Ltd (Assurance) are not affiliated with Kestra IS or Kestra AS. AFS is a wholly owned subsidiary of Assurance.