ADMIN Partners has talked a lot about Universal Availability (UA) and Meaningful Notice here on the blog. We have shared what UA is and how employers can ensure they meet the requirements for their retirement plan. With that in mind, we want to steer the conversation surrounding UA and expand on why it is so important. We also want to share some insight on what can happen when Plans fail to provide their employees with Meaningful Notice. Let’s ...
UNIVERSAL AVAILABILITY
UNDERSTANDING UNIVERSAL AVAILABILITY (UA)
Earlier this week we talked a little bit about Universal Availability and how understanding UA can benefit a Plan Sponsor in managing their Plan. We wanted to expand on that discussion and go more in depth on the topic. Here is a broader look at Universal Availability. UA is a rule under the IRS that requires employers to let employees make elective deferrals (if they wish to do so) within the company’s 403(b) plan. The idea behind the rule is ...
