After the October 15 Deadline: What Employers Should Review

Once the October 15th deadline passes, things finally slow down a little. And after weeks of chasing data, reviewing filings, and keeping everything on track, most employers are ready to take a breath — and honestly, you deserve it.

But this quieter stretch also gives you a chance to look at your plan with fresh eyes and ask a simple question:

What can we clean up now so next year feels easier?

These small check-ins don’t take long, but they help you spot issues early and keep your retirement plan running smoothly.

Here are a few areas worth reviewing before the year wraps up.

1. Make sure all eligible employees were included

Busy seasons happen, turnover happens, and payroll systems don’t always behave. This is a good time to double-check that everyone who met eligibility rules during the year was actually allowed to enter the plan.

A quick review now can prevent surprises during testing in the spring.

2. Look at your forfeiture balance

Most plans accumulate forfeitures throughout the year. This is a good moment to confirm:

• the balance is up-to-date

• forfeitures are being applied according to the plan document

• you’re not accidentally “parking” funds too long

Using forfeitures correctly can reduce future employer contributions, so it’s a simple housekeeping win.

3. Review terminated participants with small balances

If your plan allows force-outs, check whether there are terminated employees who still have small account balances sitting in the plan. Cleaning these up helps reduce administration and can simplify next year’s Form 5500.

If you’re not sure how to process a force-out, your TPA can guide you based on your plan document.

4. Identify any missing participants

Missing addresses come up more often than you’d think — especially for long-tenured employees or people who left the company years ago. Starting outreach now gives you a head start before year-end tasks pile up.

And if you need help locating someone, let us know. There are tools and services that can make the process easier.

A little review now makes next year smoother

Every retirement plan has moving parts, and it’s easy for small issues to snowball if they sit too long. The quiet weeks after October 15th are a perfect opportunity to reset, get organized, and make things lighter for yourself going into the new year.

And if you want help walking through any of these pieces, we’re always here to support you.

Let’s make next year smoother — one small step at a time.