August 20, 2013 Edition

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Thank you for subscribing to Retirement News for Employers.

In this edition of the Retirement News for Employers:

• Self-employed? – adjust your net earnings from self-employment to determine your plan contribution/deduction
• Automatic contribution increases – how your plan can automatically increase employee salary deferrals
• Hardship distributions – Tips for employers and participants from EP Exam Director Monika Templeman
• Why internal controls are critical – they help you find and prevent errors in your plan
• Phone forum (Aug. 8) discussed the benefits and gives examples of internal controls
• Why and how to use VCP to correct your plan errors
• Check the status of your VCP submission
• Determination letters - pay determination letter user fees online through Pay.gov
• Consequences of taking a hardship distribution from your 401(k)
• Loans – consider this before borrowing from your 401(k)
• Individual limits – how much you can defer if you’re in more than one retirement plan
• Mark Your Calendar
• DOL Corner

To read the August 20, 2013 Edition, please visit the Retirement News for Employers page in the Retirement Plans Community section of the IRS.gov Web site.