February 23, 2009
Bond purchased (from a surety company that holds a grant of authority from the Secretary of the Treasury as an acceptable surety on Federal bonds), to cover the bonding requirements that apply to ERISA plans.
ERISA § 412, 29 CFR §2550.412-1
Fiduciaries of an employee benefit plan and individuals who handle funds or other property of such a plan are generally required to be bonded to protect the plan against fraud and dishonesty.
RMD Correction window The correction window is the period during which a missed required minimum distribution (RMD) can be corrected in a way that may
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her