Retirement

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Few Changes to Retirement Plan Contribution Limits for 2017

By |January 3rd, 2017|

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. If you aren't maxing out your contributions already, though, you still have the opportunity to save more in 2017. Learn more in this blog post.

Setting Up a Retirement Plan for 2016 is Still Possible

By |November 8th, 2016|

Saving for retirement can be tough if you’re putting most of your money and time into operating a small business. If you don't already have a tax-advantaged retirement plan, there’s still time for setting up a retirement plan this year. Our latest blog post identifies some options for a retirement plan that can help you.

Tax-Smart Options for Your Old Employer-Sponsored Retirement Plan

By |October 4th, 2016|

Do you know what to do with your old retirement plan when you change jobs? This blog post discusses three tax-smart options for your old employer-sponsored retirement plan and the benefits and drawbacks of each.

401(k) Rollovers: How Rollovers to Your Plan Can Benefit Everyone

By |October 3rd, 2016|

High workforce mobility means that many employees leave a collection of “orphan” 401(k) plan balances in their wake. Why should plan fiduciaries care? This article examines how helping new employees with 401(k) rollovers from former employers can be beneficial for both parties.

Unexpected Disqualification of a Qualified Retirement Plan Can Trigger Serious Tax Problems

By |April 26th, 2016|

If your company sponsors a qualified retirement plan, that plan needs to stay in compliance with various IRS regulations, or else it risks being disqualified. Learn more about what causes a plan to be disqualified, what happens when qualified status is lost, and what to do about it in our latest blog post.

Is it Time to Review Your 401(k) Plan?

By |February 29th, 2016|

Plan sponsors have a fiduciary responsibility to ensure that their qualified plan complies with all current employee benefits laws and regulations. In addition, they must make certain that the plan functions within the plan’s current provisions. One of the most effective ways to do this is for plan sponsors to review the plan annually. This article highlights 10 compliance areas from the IRS 401(k) plan checklist that every sponsor should consider.

No Changes to 2016 Retirement Plan Contribution Limits

By |December 29th, 2015|

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, the limits remain unchanged for 2016:  Type of limit 2016 Limit   Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1) plans $18,000  Contributions to defined contribution plans $53,000  Contributions to SIMPLEs $12,500  Contributions to IRAs $5,500  Catch-up contributions to 401(k), 403(b), 457(b)(2) and

Take Required Minimum Distributions by December 31 to Avoid Penalty

By |December 14th, 2015|

If you're age 70½ or older, you need to take the annual required minimum distributions (RMDs) from your retirement plans before December 31 to avoid paying a fine. Learn more about RMDs and what to consider when taking them in this blog post.

PTO Contribution Arrangements Can Help Prevent the Unused Vacation-Time Scramble

By |November 24th, 2015|

Are your employees using up all their unused vacation time at the end of the year? Rather than increasing the number of days they can roll over to the next year, consider allowing them to convert their unused hours into retirement plan contributions. Learn more in this blog post.

Budget Act Eliminates Strategies for Maximizing Social Security

By |November 17th, 2015|

The Bipartisan Budget Act of 2015 contains a provision that can significantly affect the retirement planning of many Americans. It eliminates two strategies that many married couples have used for maximizing Social Security benefits. This article explains how the two strategies worked under previous law and details how the budget act changed them.