My client currently has a deferral-only 401(k) plan and is looking to add a discretionary profit sharing feature to maximize his total contributions. What are the basic allocation formula options?
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When reviewing an IRA owner’s file, we discovered that it contained no opening documents nor evidence of her having received the opening documents. How do we fix this compliance concern?
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Financial organizations may wonder if there’s value in offering a health savings account (HSA) program, even as the number of accounts and assets continue to grow.
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Coverdell education savings account (ESA) contributions tend to pick up when the holidays approach.
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The last three months of the year are busy months for retirement plan administrators of calendar-year retirement plans and for employers sponsoring savings incentive match plan for employees of small employers (SIMPLE) IRA plans.
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Most financial organizations are familiar with Traditional and Roth IRA distributions, but they may not be as familiar with SIMPLE IRA distributions.
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Like many Americans, Gavin Smith’s employer is offering only a high deductible health plan (HDHP) next year. Having two active sons and knowing the HDHP has higher out-of-pocket amounts, he is worried about having enough money to pay the medical bills. Gavin decides to reduce the amount he saves for retirement to help free up more money for health care costs.
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The IRS released updated IRA model documents early in September 2017, which are used to establish Traditional, Roth, and SIMPLE IRAs.
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The Department of Labor (DOL) released guidance on August 31, 2017, for retirement savings arrangements whose administrative procedures may have been disrupted in the wake of Hurricane Harvey in the Houston, Texas, area in recent days.
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The IRS released Revenue Procedure (Rev. Proc.) 2017-41 on June 30, 2017, describing its revamped pre-approved qualified retirement plan document program.
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