Articles — Ascensus

Roth IRA Contribution MAGI Phase-Out Ranges

Quick Reference Tool: Current Roth IRA contribution eligibility phase-out ranges

IRAAscensusNovember 15, 2018

Traditional IRA Deductibility MAGI Phase-Out Ranges

Quick Reference Tool: Current Traditional IRA deductibility phase-out ranges

IRAAscensusNovember 15, 2018

DOL Proposes Regulations for Association Retirement Plans

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.

Employer PlanAscensusNovember 15, 2018Retirement Plan, DOL, Regulations

IRS Proposes Amendments to Retirement Plan Hardship Rules

The IRS recently proposed amendments to hardship distribution regulations and is requesting public comments by January 14, 2019.

What Is a Loan Offset and How Do Recent Regulatory Changes Apply?

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?

Can an HSA Have Authorized Users?

Can HSA debit cards be issued to individuals other than the HSA owner? Are there issues that financial organizations should be aware of when allowing authorized users?

expert, HSAAscensusNovember 15, 2018HSA, IRS, Distribution

Retirement Savings Challenges Amplified by Growing Gig Economy

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.

HSAs—a Growing Opportunity for Any Financial Organization

Research shows that HSAs will continue to see unprecedented growth, proving them to be a successful product offering for most financial organizations.

HSAAscensusNovember 15, 2018Business Insights, Industry Trends & Statistics, HSA

Refining RMD Procedures for Baby Boomer IRA Owners

With the growing number of baby boomer Traditional IRA owners turning age 70½ and older, it’s time to refine your RMD procedures and ensure that you and your IRA clients understand the RMD rules.

Ready or Not, 2019 Brings More Changes

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.

Most IRA and Retirement Plan Limits Will Increase for 2019

The IRS recently released the 2019 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2019.

The Deadline For Correcting IRA Excesses Has Passed—Now What?

October 15 has come and gone—and with it, the ability for IRA owners to correct 2017 IRA excess contributions without penalty. Now they must pay the penalty and still correct the excess using one of two options.

IRAAscensusOctober 18, 2018Compliance & Operations, Traditional IRA, Roth IRA, Contribution, Excess Contribution, Reporting

House Passes Third Bill in Tax Reform 2.0 Package

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.

IRA, Employer PlanAscensusOctober 18, 2018IRA, Retirement Plan, Congress, Guidance & Legislation, Tax

House Acts on Saving Enhancements; Ball Now in Senate’s Court

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.

Employer Plan, IRAAscensusOctober 18, 2018IRA, Retirement Plan, Guidance & Legislation, Washington Pulse, Congress

Key Considerations for Retirement Plan Design

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.

How SEP, SIMPLE, and Owner-Only 401(k) Plans Stack Up

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.

HSA vs. FSA: Diagnosing the Differences

HSAs and health FSAs are both used to save and pay for qualified medical expenses with the potential benefit of tax-free distributions. So how do they actually differ from each other?

HSAAscensusOctober 18, 2018Compliance & Operations, HSA, Contribution, Eligibility, Distribution

Moving Money to an HSA with a Qualified HSA Funding Distribution

What is a qualified HSA funding distribution and how much can be distributed? Can a qualified HSA funding distribution help satisfy an RMD? What is a testing period?