…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…
…provisions are designed primarily to raise additional revenue, but most of the new provisions in the SECURE Acts have at least some positive impact on retirement savers. Part of the issue may be that all these changes have created many choices for plan sponsors—and it’s…
…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…
…orientation to be a consultative partner that listens and understands how to map the right plan design options to the right client to craft and optimize a retirement plan that can meet their tax and savings goals. We’re happy to work directly with you and…
When to Set Sail with Safe Harbor You already know that a 401(k) is a very popular retirement plan and, like other plan designs, it allows your employees to take advantage of tax deferrals on contributions and earnings while their money accumulates for retirement. To…
…long-term goals if they are focused on short term problems. With good data, we will know, for example, if company owners are reaching their contributions limits. When this happens, there’s likely a good reason to talk about additional features or other plan design options that…
Every retirement plan design begins with a study of a company’s payroll. It’s the essential information that drives thinking around how to optimize tax and savings potential for both business owners and their employees. Once a plan is installed, we rely on payroll data to…
…have many plan designs and options to offer depending on what we determine may be a best fit for your clients. The temptation is to quote them what they ask for. We think the better approach is to first invest a little time in understanding…
…hiring challenges many employers face- the defined benefit plan can become a game changer for many employers. Join us as we discuss: The hiring environment and talent shortage Regulatory Pension Relief Liability Driven Investing Plan Design Options Frozen Plans – Reconsiderations Reexamining Your Retirement Program…
The SECURE Act of 2022 (“SECURE 2.0”) was passed by Congress and signed into law by President Biden on December 29th, 2022. The law contains 92 provisions, many of which are designed to expand retirement savings and coverage and simplify retirement plan rules. A number…