How is compensation defined for 401(k) plan purposes? How does the definition affect compliance testing? What time period is used for defining compensation?
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The “mega Roth” strategy, a new approach to retirement saving, is a way for some retirement plan participants to maximize their savings using Roth IRAs or retirement plan designated Roth accounts.
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In response to an executive order by the President to expand access to retirement plans, the DOL recently proposed regulations to allow employers to form association retirement plans, or MEPs.
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The IRS recently proposed amendments to hardship distribution regulations and is requesting public comments by January 14, 2019.
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What does it mean when an outstanding loan amount is offset? What are the tax consequences for the plan participant? What is the timeframe for rolling over a loan offset amount and how should it be reported?
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One of the biggest challenges “gig workers” face is a lack of access to an employer-sponsored retirement plan and the employer contributions that often go with it. Fortunately, there are four retirement savings alternatives ideal for gig workers.
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Don’t be caught off guard with these tax reform changes from the Tax Cuts and Jobs Act and Bipartisan Budget Act that take effect January 1, 2019.
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The IRS recently released the 2019 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2019.
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The House of Representatives has passed the Protecting Family and Small Business Tax Cuts Act of 2018. This is the third and final bill in the Tax Reform 2.0 package considered in the House.
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On September 27, 2018, the House of Representatives passed the Family Savings Act of 2018, legislation that would make many significant changes to retirement and other tax-favored savings arrangements. Passage by the Senate is uncertain.
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As the end of another plan year approaches, it may be time for an employer to evaluate whether current plan provisions still fit the employer’s situation and objectives. After giving thoughtful consideration to several factors, the employer may want to amend for certain plan design changes.
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Most small business owners and self-employed individuals want an employer-sponsored retirement plan that’s affordable and easy to administer. Find out how SEP, SIMPLE IRA, and owner-only 401(k) plans stack up.
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What is the top heavy test and who is a key employee? What if a plan is deemed top-heavy? What are top-heavy minimum contributions?
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Tax Reform 2.0, if enacted by Congress, would make significant changes to tax-advantaged savings arrangements. The House may vote on this legislation by the end of September.
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President Trump issued an Executive Order directing the Secretaries of Labor and Treasury—and the agencies they lead—to review and consider ways to revise several important provisions pertaining to retirement savings plans.
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Understanding how the September 30 designation date applies to beneficiary distributions is key to handling payments to beneficiaries so as not to wrongly pay out these accounts after an IRA owner or plan participant dies.
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Recharacterizations of conversions and retirement plan-to-Roth IRA rollovers are soon to be a thing of the past. Making clients aware of this change before they convert or roll over could lessen any regret or frustration with these transactions later.
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In response to the growing financial crisis of outstanding student loan debt, some employers have found a way to help employees pay off their student loan debt and save for retirement.
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