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…
For the past three years, Congress has attempted to pass major retirement reform legislation. It has finally succeeded with the year-end passage of two spending packages meant to avert a government shutdown. One of the packages, the Further Consolidated Appropriations Act, 2020 (FCAA), includes multiple bills—including the…
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.
Intac Actuarial Services, Inc., an Ascensus company (INTAC), is pleased to announce that Matt Longley has joined its distinctive team of actuaries as an enrolled actuary in the company’s defined benefit practice.
Employers that already offer a 401(k) plan to their employees can add the opportunity for them to make Roth 401(k) contributions to maximize their retirement savings.
CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of INTAC Actuarial Services, Inc., headquartered in Ridgewood, NJ as adhering to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers
Many people are aware of self-directed retirement plans for individuals (solo 401(k) plans and IRAs), which allow account owners to include many alternative assets in their plans—including real estate. This brings up the question of whether a pension plan is permitted...
A veterinarian in upstate New York has been running a successful practice for 10 years. The company is a C-corporation, co-owned by a husband and wife in their 40s who are on W-2 salary, as are five additional employees in their late 20s. The business had an existing safe harbor 401(k) plan, administered by a payroll provider, that provided a contribution of 3% of pay to its employees.
How is the amount of the RMD calculated? RMDs are calculated for each account by dividing the prior December 31st balance of that retirement plan account by a life expectancy factor provided by the IRS.
Employers who offer a qualified retirement plan already know that this benefit helps attract employees while helping workers build retirement savings.