Experts in Personalized Retirement Plan Design & Administration

BPP401k Newsletter 10.10.2018

Compensation is Simply Compensation, Right?

This is the “Information Age,” so how hard can it be to determine how much we paid our employees last year? It may not be that hard given a certain set of parameters, but compensation miscalculations are the among the most frequent and costly mistakes made by 401k and 403b plan sponsors. For retirement plans, “compensation” generally includes all payments made by an employer to an employee for services rendered in the scope of the employer’s business. Simple enough, right?Source:

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