…FICA, or IRC section 3306(b), for purposes of FUTA. Employer Roth contributions “must be reported using Form 1099-R for the year in which the contributions are allocated to the individual’s account. The total amount of designated Roth matching contributions and designated Roth nonelective contributions that…
…to transfer it to another plan), then the plan must distribute the benefit to a designated Individual Retirement Account (IRA). These are called ‘‘automatic rollovers.” DOL provides a safe harbor for automatic rollovers under which the IRA designation and initial investment are deemed to satisfy…
…flexibility, customization, outcomes. And all of these drive plan design. It’s all about asking the right questions so that together, we can design and offer an ideal retirement plan for each of your clients. Give us a call to talk about how we can help. …
Each year nondiscrimination testing must be performed on your Defined Benefit Plan. Do you have a strategy in place? The right plan design strategy can address potential testing failures. Join us on as we provide insights into what’s involved with nondiscrimination testing and what you…
…of retirement plan designs and individual plan features that can help them reach their goals. Depending on their situation, here’s a quick snapshot of some of the most popular: First, a 401(k) plan with a Safe Harbor feature can be a great vehicle. With this…
…future contributions. The company’s retirement PLAN DOCUMENT spells out how forfeitures are to be treated. In other words, the definition of vesting and forfeitures and how they’ll be handled should be clear to the employer and all plan participants. As a plan design feature, vesting…
…importance of having someone on your side who can help keep your plan on the proper course. What Could Go Wrong? Congress did not design retirement plans to be complicated. But over the years, layers of rules have been added—mostly to benefit participants or to…
SECURE Act 2.0 gives small business owners exciting new tactics and strategies designed to help them achieve business goals as well as retirement savings objectives for themselves and their employees. Attend this seminar to learn how to use qualified retirement plans and executive compensation arrangements…
…five most asked about provisions by Pentegra’s plan sponsor clients include the following: All catch-up contributions (for participants age 50 or over) to qualified retirement plans must be designated as after-tax Roth contributions, unless a participant has compensation of $145,000 or less. This provision is…
…contributions are possible Contributions above the cap can be directed to the plan’s designed Roth account or stopped until the ESA balance drops below the limit. Withdrawals are liberal Participants must be allowed to take at least one withdrawal per month, and the first four…
…plan sponsor to engage in an objective process designed to elicit information necessary to evaluate candidates considering, but not limited to, the following: Qualifications of the service provider, Whether it has a consistent track record of service, Its professional “bench-strength” and tenure of staff, The…
…the rate of return on, e.g., a designated S&P 500 Index fund or the yield on designated fixed income securities, not to exceed 6%. In implementing this provision, a critical question has been, if a plan that did not use a market rate (because of…