peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
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peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
 peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits


Changes in 401-k Rules from the IRS !

PML Considers changes in 2003 for its 401-k Program!
By Jim Shelton | Rochester Hills


Posted Monday, February 10, 2003
New regulations from the Internal Revenue Service will force PML to look at its 401-k Program and consider the options for the leasing company and its clients and employees.  Before May, 2003, PML will consider the following options;  

    1.  Terminating the plan and discontinuing the option to offer 401-k through PML.

    2.  Converting the plan to a Multi-Employer Plan, with PML maintaining a master Prototype Plan, each client deciding whether or not to adopt PML's plan and, if adopting, would then have their own plan with options specific to his/her company location.  There would be an annual administration charge (nominal) for each client adopting the plan, for testing and administering of the reporting, for ERISA purposes.

PML believes that the second option is really what PML wanted originally, but was unable to offer because of the regulations then in place.  We will be presenting more information as it becomes more clear to us.  Watch for that, and think about what you would like for YOUR 401-k program.




 peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
 peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
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peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits
peo, employee leasing, business services, staffing, outsourcing, human resource, hr, payroll, workers comp, benefits

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