Retirement Tax Planning for Medicare Premiums
High-income retirees pay more in monthly Medicare premiums, but with careful planning – and an appeal when necessary – the premiums can potentially be reduced.
Impact of ARPA on Multiemployer Pension Plans
Although not a permanent solution, ARPA includes important relief for eligible multiemployer pension plans and provides plan sponsors with an opportunity to return to a state of solvency that may not have been possible otherwise.
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.
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.
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 If an overpayment occurs and funds need to be withdrawn, the ability to pull them out depends on if the excess is employee or employer money.
Is Your 401(k) Plan Document Out of Date?
If your 401(k) plan document was created before 2014, chances are the document is outdated.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.
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.
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Company retirement plans receive special tax treatment, so the IRS has restrictions on when money can be withdrawn from a 401k account in order to prevent people from using it as a regular bank account.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.