The Commerce Company

Commco Comments is published to provide timely information updates for employers and retirement plan sponsors. The newsletter's purpose: to provide information about issues that may affect the administration of employer-sponsored retirement plans.

Quizzes

March 2020

Q: Under the SECURE Act, plans operating under a QACA may now automatically increase participant contributions until they reach what percentage of salary?

A: 15%

November 2019

Q: What is the "catch up" amount if age 50 or older for a 401(k) in 2020?

A: $6,500

September 2019

Q: The notice describing participants' benefits must be given to participants within how many days of when they have terminated employment?

A: 90-180 days

March 2019

Q: What percent of employers are currently offering assistance with student loan debt?

A: 4%

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