Reimbursement Road Map for Sponsor Services

February 23, 2018

As illustrated in a recent case, Perez v. City National Corporation, thorough expense documentation is critical when a retirement plan sponsor is reimbursed for administrative services rendered on behalf of the plan. To Determine Reimbursement The Employment Retirement Income Security Act (“ERISA”) sets forth certain standards for plan sponsors which they are required to meet…

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Tax Reform 2018 – Impact on Non-Profits

February 1, 2018

What you need to know: 6 Key Areas for Non-Profits Standard Deduction Standard vs. itemized deductions – Taxpayers have generally selected whichever method reduces their taxable income by the greatest amount. Under the new Act, the standard deduction has been increased from $6,350 to $12,000 for individuals and from $12,700 to $24,000 for couples. As…

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Tax Benefits for Organizations that Accommodate Individuals with Disabilities

January 30, 2018

Businesses that are “good citizens” by accommodating individuals with disabilities may qualify for a number of tax credits and/or deductions. These include: Work opportunity tax credit. By hiring qualified individuals from specific groups, including some with disabilities, employers may be eligible for the credit. Businesses use Form 8850, “Pre-Screening Notice and Certification Request for the…

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Close to Retirement?

Making a Change

January 27, 2018

Six Financial Planning Steps for the New Year To many cultures, the beginning of a new year is a time for new beginnings and self-improvement. Along with the old standard of promising to exercise more and eat less, many Americans use the change in calendar as a reason to address their bad financial habits. For…

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How High Can You Go?

January 26, 2018

Participants Willing to Accept Higher Default Deferral Rates It has been said by management that 3% is an unambitious 401(k) plan deferral rate, and it will be more difficult to get employees financially ready for retirement unless they have high average investment returns.  It is recommended that most employees should invest closer to 10% or…

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What to Do with Orphaned 401(k) Plan Accounts

January 25, 2018

In today’s environment, employees change jobs more frequently and with the baby boomers hitting retirement age, it’s common for 401(k) plans to have a significant number of orphan accounts. Plan administrators may need to determine a strategy as to how to handle these accounts. In order to effectively implement a strategy, the following factors must…

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