Appleton, Wisconsin tra401k.com/ Founded in 1996
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TRA, Inc.

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As a national retirement services company, The Retirement Advantage (TRA) provides third party administration and fiduciary services to plan sponsors, financial advisors, wealth managers and businesses of all sizes. Our commitment to providing expert consultation, resources and exceptional customer service has positioned TRA as one of the largest, privately held third party administrators in the nation. We proudly serve more than 11,000 plan sponsors with more than $11 billion in retirement assets under our administration. You can count on us to deliver on time, on budget and with precise attention to detail.
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News Articles Archive - TRA

CASE OF THE WEEK – Tax Withholding and Roth Conversions
7/12/2024 1:00:48 PM +00:00

Roth conversions are taxable events, generally. Individuals who complete large Roth conversions late in the year may face IRS penalties if they failed to make the appropriate estimated tax payments.

The post CASE OF THE WEEK – Tax Withholding and Roth Conversions appeared first on TRA.

Plan Sponsors Ask…
7/9/2024 1:15:27 PM +00:00

Discover the rising prominence of target date funds (TDFs) in retirement plans according to NEPC's 2023 DC Plan Trends and Fee Survey. Currently, 97% of plans offer TDFs, with these funds comprising an average of 47% of plan assets, up from 28% in 2010. This shift is accompanied by a decline in core investment options, with 30% of plans now offering fewer than 10 choices.

The post Plan Sponsors Ask… appeared first on TRA.

CASE OF THE WEEK – Pension Derisking
7/5/2024 1:01:38 PM +00:00

The current financial climate is ideal for accelerating the pension plan de-risking trend. Financial advisors, whether they work directly with DB plans or not, can seize opportunities to discuss the impact of pension de-risking with their clients.

The post CASE OF THE WEEK – Pension Derisking appeared first on TRA.

CASE OF THE WEEK – Pension Distributions and Restricted Employees
6/28/2024 12:00:17 PM +00:00

When discussing benefit restriction rules for defined benefit plans with your clients, remember the significant restrictions that may apply to the High 25 Highly Compensated Employees (HCEs) in the plan. Affected individuals should collaborate with their plan administrators to explore potential exceptions and seek professional advice from a tax and/or legal advisor.

The post CASE OF THE WEEK – Pension Distributions and Restricted Employees appeared first on TRA.

CASE OF THE WEEK – What is the Abandoned Plan Program?
6/21/2024 12:49:43 PM +00:00

Explore the distribution options for benefits from an abandoned plan, considering if the plan's sponsor is in Chapter 7 bankruptcy and subject to new special rules or if general abandoned plan rules are applicable.

The post CASE OF THE WEEK – What is the Abandoned Plan Program? appeared first on TRA.

CASE OF THE WEEK – What to Correct under the Voluntary Fiduciary Correction Program
6/14/2024 1:00:53 PM +00:00

The DOL's Voluntary Fiduciary Correction Program (VFCP) offers significant incentives and assistance for fiduciaries to self-correct ERISA violations. Plan officials can voluntarily rectify 19 specific prohibited transactions, with PTE 2002-51 providing IRS excise tax relief for six of these transactions.

The post CASE OF THE WEEK – What to Correct under the Voluntary Fiduciary Correction Program appeared first on TRA.

CASE OF THE WEEK – Railroad Retirement System Benefits
6/7/2024 1:06:57 PM +00:00

When clients have worked for both the railroad and under Social Security, understanding the Windfall Elimination Provision (WEP) is crucial. The WEP affects approximately 2.1 million Social Security beneficiaries, around 3% of the total, as of 2023. Of these, nearly 2.0 million are retired worker beneficiaries, roughly 4% of the retired-worker beneficiary population. This provision also impacts disabled worker beneficiaries and eligible family members.

The post CASE OF THE WEEK – Railroad Retirement System Benefits appeared first on TRA.

CASE OF THE WEEK – Hardship Distribution Certification
5/31/2024 1:00:37 PM +00:00

ERISA consultants at the Retirement Learning Center regularly address technical queries from financial advisors about retirement plans, including hardship distributions. A common question is whether source documentation, such as proof of medical bills, is required for 401(k) hardship distributions. The SECURE Act 2.0 allows self-certification for all hardship criteria, but IRS audit guidelines still require source documentation. Plan sponsors should consult with record keepers, TPAs, and legal counsel to establish a clear policy until the IRS provides further guidance.

The post CASE OF THE WEEK – Hardship Distribution Certification appeared first on TRA.

CASE OF THE WEEK – Un-Terminating a Plan
5/24/2024 1:00:51 PM +00:00

The correction process detailed here covers multiple aspects of rescinding a plan termination, though not all. Consulting with an ERISA attorney or tax advisor is recommended for specific needs.

The post CASE OF THE WEEK – Un-Terminating a Plan appeared first on TRA.

CASE OF THE WEEK – What Is The New Transition Rule For Applying Accumulated Forfeitures From Defined Contribution Plans?
5/17/2024 1:00:50 PM +00:00

The proposed regulations offer plan sponsors a chance to "clean the slate" in the 2024 plan year by treating forfeitures from prior years as if they first occurred in 2024. Sponsors should apply these accumulated forfeitures by the end of the 2025 plan year. This transition period also allows plan sponsors to review and adjust their administrative procedures to comply with the rule that forfeitures must be used by the end of the year following the year they occurred. Proper use of forfeitures can lower future employer contribution costs and cover reasonable plan expenses.

The post CASE OF THE WEEK – What Is The New Transition Rule For Applying Accumulated Forfeitures From Defined Contribution Plans? appeared first on TRA.

Our Team
Brian Flynn
Regional Plan Consultant
Grant Livingston
Regional Plan Consultant
Mike Schessler
Regional Plan Consultant
Paul Phan
Regional Plan Consultant
Brenda Brumm
Internal Plan Consultants Team Lead
Jodie Mellon
Internal Plan Consultant
Jodie Mellon
Internal Plan Consultant
Austin Solomon
Internal Plan Consultant
Stephen Switzer
Regional Plan Consultant
Stephen Switzer
Regional Plan Consultant
Stephen Switzer
Regional Plan Consultant
Stephen Switzer
Regional Plan Consultant
Stephen Switzer
Regional Plan Consultant
Philanthorpy

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