An independent IT consultant sought to maximize retirement savings and tax deductions beyond the limits of a standard retirement plan. Intac/FuturePlan designed a strategic combination of a Defined Benefit (DB) plan with a 401(k) Profit Sharing plan. This custom solution enabled the client to dramatically increase their annual retirement contributions, resulting in significant tax savings and a substantially larger projected retirement fund.
An employer-sponsored retirement plan is a smart way for companies to attract top talent and for employees to save for retirement. Correctly maintaining the plan is key to compliance. However, mistakes can happen. Working with a third-party administrator (TPA)...
All qualified retirement plans are required to undergo multiple tests every year. These tests are to ensure each plan is compliant with federal and state law. As plan administrators, we perform these tests for our clients. Below are eight of the most common annual...
Intac FuturePlan VP Charles Rosenberg and Compliance Manager Andrea Zimerman recently presented an informative webinar about changes to qualified retirement plans coming in 2024 and later. View the presentation to see what they covered and contact your Intac...
A revision regarding which qualified retirement plans need independent audits when filing Form 5500 takes effect this year. The update concerns how plan participants are counted and it determines what qualifies as…
The very best tpa firms understand the importance of operating at the highest standard. Plan administration requires dedication to details, accuracy, and client satisfaction.
Companies that offer a qualified retirement plan (a defined contribution or defined benefit plan) must often deal with the challenge of finding a missing participant. This happens when former employees do not provide current contact information, are no longer actively...
Some provisions in the SECURE Act 2.0 have a direct effect on 401(k) and other qualified retirement plans. The provisions outlined below are specific to the “Rothification” of certain retirement plans. These Roth-related features and options—regarding contributions and RMDs—are highly pertinent to plan sponsors and advisors with a retirement plan practice.
When a small business offers a workplace retirement plan, it must have the manpower to manage all the required administrative work to run the plan. When human resources are stretched, the plan sponsor can choose to outsource the company’s 3(16) fiduciary…
The small-business owners we serve often have questions about implementing a cash balance plan or nonqualified retirement plan. These are two distinct plans that share a common goal: to accelerate retirement savings.