The IRS requires companies to perform annual nondiscrimination testing on their qualified retirement plans to ensure highly compensated employees do not receive preferential treatment over non-highly compensated employees. (Photo: Shutterstock)
With 2018 now over, company retirement plan sponsors should start the new year fresh and revisit nondiscrimination testing to ensure contributions are within federal limits and the program is designed to maximize employee participation.
January is the perfect time for company benefits executives to reexamine their retirement plans now that they've finished year-end tasks for other essential programs, such as health insurance open enrollment (and filing all the necessary paperwork required by federal and state regulators).
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