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Monday, March 20, 2017

Is It Time to Refresh Your Voluntary Benefits?

by Wesley Price

Voluntary benefits have been around for several decades. These are coverages and products made available to employees for elective purchase at the employee’s expense. Over the years, as the cost of health insurance has continued to increase, employers have shifted the portfolio of offerings from employer-paid to voluntary. As a result voluntary benefits has evolved from being limited to main core benefits like dental, vision, and life insurance to including accident insurance, disability and critical illness. Additionally, new benefits are emerging based on growing demand, such as pet insurance, fraud protection and legal services.

Tuesday, March 7, 2017

8 Questions Plan Sponsors Should Ask about 457(b) and 457(f) Plans


457(f) and 457(b) plans are non-qualified deferred compensation plans for eligible highly-compensated employees. A non-qualified plan is a type of tax-deferred, employer-sponsored retirement plan that is not subject to Employee Retirement Income Security Act (ERISA) guidelines. Non-governmental 457 plans are not required to file Form 5500 since they are not subject to ERISA, but they are required within 120 days of the plan’s existence to file a one-time notification (“top hat letter”) with the Department of Labor. These plans are exempt from the non-discrimination testing that is required for qualified plans.

In 1986, Section 457 was added to the Internal Revenue Code (IRC) to specifically address the unique needs of the not-for-profit sector. The rules address governmental plans sponsored by state or local governments and non-governmental plans sponsored by tax-exempt organizations under Section 501(c). This frequently-asked question (FAQ) document will specifically address questions regarding non-governmental 457(b) and 457(f) plans.

Wednesday, March 1, 2017

Key Retirement and Employee Benefits Compliance Reminders for March

Due March 1st

  • Form M-1 must be filed by multiple employer welfare arrangements (MEWAs) and entities claiming an exception from MEWA status (automatic 60-day extension is available upon request).

Due March 2nd

  • Section 6055 (Forms 1094-B and 1095-B) Individual statements must be furnished 
  • Section 6056 (Forms 1094-C and 1095-C) Individual statements must be furnished 

Due March 15th 

  • Corrective distributions for failed actual contribution percentage (ACP)/actual deferral percentage (ADP) test without 10% excise tax penalty (for plans without EACA).
  • Corporate tax returns due and contribution deadline for deductibility (without extension). 
  • Due date for automatic extension to September 15 for corporate tax returns.

Due March 31st

  • Electronic filing of Form 1099-R for distributions made in 2016.

Download the full 2017 Retirement and Employee Benefits Compliance Calendar.

If you have any questions or would like to begin talking to an advisor, please get in touch by calling (855) 882-9177 or e-mail us at

Monday, February 20, 2017

2017 Retirement and Employee Benefits Compliance Calendar

Strategic Benefit Services wants to help you stay compliant with our 2017 Retirement and Employee Benefits Compliance Calendar.

Compliance is just one of many services SBS provides. Visit our Retirement Plan Services and Employee Benefits service pages to learn more.

If you have any questions regarding compliance requirements or their application to your plan, contact us at (855) 882-9177 or at

Wednesday, February 15, 2017

Strategic Benefit Services Named a PLANADVISER Top 100 Retirement Plan Adviser for the 2nd Year in a Row

PLANADVISER Magazine has named Strategic Benefit Services (SBS) as one of its 2017 Top 100 Retirement Plan Advisers. We have been awarded in the categories for large teams with $4 billion or more in retirement plan assets under advisement, and large teams with 180 retirement plans or more under advisement. The PLANADVISER Top 100 Advisers is an annual list of the retirement plan advisers and adviser teams that stand out in terms of a series of increasingly stringent quantitative measures.