Tag: 401k

For small businesses, choosing between Simple, SEP and 401(k) Profit Sharing Plans is as much about knowing what’s right for your business as it is about finding the right plan for you and your employees.

A Mega Backdoor Roth lets you maximize your savings while minimizing your taxes and in the process you could put away substantially more. Understanding just these few key points about how it works as well as when and for whom it works best will help you know if this retirement plan option is right for you.

The final year of your tri-cycle restatement period provides an opportunity to review and reassess 401(k) documents. It is an especially good time to look at these key features: • Employer Contributions • Automatic Features • Roth 401(k) • In-Service Distributions • Joint & Survivor Annuities

Tips & guidelines you can take mid-year for smoother 401(k) plan administration. Don’t wait until the end of the year to evaluate your Retirement Plan. July 31st is the deadline for most companies to file IRS Form 5500 for 2020. Leverage the insight from last year to improve your plan in 2021

Secure Act 2.0 is coming as part of the Infrastructure Bill of 2021. This article highlights a few proposed changes including Roth IRA, an increase in RMD and more. The Secure Act 2.0 builds on the Setting Every Community Up for Retirement Enhancement Act of 2019. Included in the bill are dozens of provisions aimed at boosting retirement security.

Among the economic growth and inflation, workforce trends are affecting how businesses approach their employee benefits. Employers are needing to be more creative and thoughtful than ever in attracting and retaining key talent, and retirement plans are often one underutilized tool.