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.
Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs
Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions
Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year. For retirement account
Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional, SEP or SIMPLE IRA, a
