Required Minimum Distributions (RMD) calculations for qualified retirement plans and IRAs are finally in alignment!

The two most common individual retirement vehicles are Qualified retirement plans and Individual Retirement Accounts (IRAs). Learn more about how Required Minimum Distributions for qualified plans and IRAs have aligned.

2024-03-13T13:23:13-04:00March 13, 2024|Categories: Retirement|Tags: |

IRS Delays Roth Catch-Up Contribution Rule

The IRS has delayed the new Roth catch-up contribution rule for high earners until 2026. This change provides a strategic window for retirement planning, especially as fewer than 20 percent of eligible employees still don’t utilize catch-up contributions.

2023-11-15T17:53:25-05:00November 15, 2023|Categories: Retirement, Tax: Business|Tags: |

Navigating the Compliance Maze: A Government Contractor’s Guide to 401(k) Nondiscrimination Testing

As a government contractor, it is vital to possess a comprehensive understanding of the regulations governing 401(k) plans and the intricacies of nondiscrimination testing. While these retirement savings plans are commonly offered by employers, it is imperative to meet specific requirements to maintain their tax-deferred status.

2023-11-15T17:51:08-05:00November 14, 2023|Categories: Government Contracting, Retirement|Tags: |

RetirePath for Virginia Construction Contractors: Benefits and Considerations

Whether through RetirePath, a new state-sponsored and mandated retirement plan, or offering another employer-sponsored plan, the question now for Virginia contractors isn’t whether to offer a retirement plan, but which one.

2023-09-25T08:57:57-04:00August 25, 2023|Categories: Construction and Real Estate, Retirement, Tax: Business|Tags: |

Pension Benefits: Which Option is Best for Retirement?

After you retire, your pension plan typically offers you at least two alternatives: a consistent income stream or a one-time lump-sum payment. Which alternative suits your circumstances the best?

2023-06-26T09:14:28-04:00June 26, 2023|Categories: Retirement, Wealth Management|Tags: |

Virginia Businesses Employing More Than 25 Employees Now Have Three Options

On July 1, 2023, more than 8,000 Virginia employers will receive a notice about RetirePath, a state-sponsored retirement program. Employers will need to register by February 2024, offer their own plan, or pay a per-employee fine.

2023-06-27T13:56:06-04:00June 22, 2023|Categories: Business Advisory, Retirement, Tax: Business|Tags: |
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