Retirement Plans

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SECURE Act Impacts Employer Sponsored Defined Contribution Plans

Recent provisions to the SECURE Act make it easier for employees to save for retirement while employers and plan sponsors have new rules to follow for qualified retirement plans.

2020-01-07T12:22:11-05:00January 7, 2020|Categories: Retirement|Tags: , |

SECURE Act Impacts Retirement Planning

President Trump signed the latest federal government spending bill on Friday December 20, 2019. The bill includes many tax law changes and extends several expired provisions. The bill also incorporates the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Read on for three changes from the SECURE Act that all taxpayers should know.

2020-01-02T15:07:05-05:00December 24, 2019|Categories: Retirement|Tags: , , , |

Options Following Overpayment into a Retirement Plan

The government penalizes employers for not putting enough money into a retirement plan and for putting too much into the plan. If an overpayment occurs and funds need to be withdrawn, the ability to pull them out depends on if the excess is employee or employer money.

2020-02-10T15:46:22-05:00April 4, 2019|Categories: Employee Benefit Plans, Retirement|Tags: , |

Is Your 401(k) Plan Document Out of Date?

If your 401(k) plan document was created before 2014, chances are the document is outdated. The IRS allows you to “tack-on” amendments to your existing document but may decide it is time to restate your entire plan document whether you think it needs it or not.

2020-02-10T15:47:27-05:00February 25, 2019|Categories: Employee Benefit Plans, Retirement|Tags: , |

Causes and Resolutions for a Top-Heavy Company Retirement Plan

As an abridged explanation, a company retirement plan is considered top-heavy when plan assets at the end of the previous plan year were more than 60 percent owned by the “key employees”. Learn how to deal with the causes and challenges.

2020-01-28T15:20:59-05:00November 20, 2018|Categories: Employee Benefit Plans, Retirement|Tags: , |

Company Retirement Plans Made Easier

Company retirement plans receive special tax treatment, so the IRS has restrictions on when money can be withdrawn from a 401k account in order to prevent people from using it as a regular bank account. Here are four optional ways to withdraw money from a retirement plan if the provisions are included in the plan document.

2020-01-28T15:27:10-05:00October 29, 2018|Categories: Employee Benefit Plans, Retirement|Tags: , |