SECURE 2.0: Deciphering New Retirement Plan Reporting Rules

The SECURE 2.0 Act aims to expand the ease of saving for retirement, to simplify the management of retirement plans, and in general to improve financial security for American workers and retirees. The updated law includes new options for 401(k) and 403(b) employer contributions, adjustments to required minimum distribution age for IRAs, and increased catch-up […]

Beyond the 401(k): Affordable Retirement Plans for Small Businesses

With the fading of the defined benefit plan — the so-called traditional pension — companies have increasingly relied on 401(k) plans to fulfill their employees’ retirement needs. However, it can be difficult for a small company to set one up. Fortunately, there are other options out there. Below is a brief review of some of […]

Avoid 401(k) Compliance Mistakes

As an employer, one of your main goals should be keeping your employees happy. And you can keep your employees happy without losing favorable 401(k) tax benefits, paying penalties or facing liabilities. In the process, don’t forget to take the changes caused by the SECURE 2.0 Act into consideration, namely in terms of retirement savings […]

New Business? It’s A Good Time To Start A Retirement Plan

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages: A current deduction from income to the employer for contributions to the plan, Tax-free buildup of the value of plan […]