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Retirement Topics - Eligibility and Participation

Benefits of saving now, eligibility and participation, putting money in and taking money out of your retirement account.

Benefits of Saving Now

Retirement Topics - Significant Birthdays for Retirement Planning

The Moving Ahead for Progress in the 21st Century Act changed many items for single-employer defined benefit plans, including giving significant funding relief by allowing plans to use a 25-year average interest rate. At the same time, MAP-21 increased the annual Pension Benefit Guaranty Corporation premium each year beginning in 2013.

Many of the actions needed to operate a 401(k) plan involve fiduciary decision - whether you hire someone to manage the plan for you or do some or all of the plan management yourself. Controlling the assets of the plan or using discretion in administering and managing the plan makes you or the entity you hire a plan fiduciary to the extent of that discretion or control. Thus, fiduciary status is based on the functions performed for the plan, not a title. Be aware that hiring someone to perform fiduciary functions is itself a fiduciary act.

Information on how to choose, maintain and fix plan errors of a retirement plan

Once you¡¯ve established a retirement plan, you assume certain responsibilities in operating the plan.

The IRS recently issued Notice 2014-5 giving limited, temporary relief for closed defined benefit plans that are having difficulty meeting the nondiscrimination requirements under Internal Revenue Code Sections 401(a)(4) and 410(b).

Returns Filed, Taxes Collected, and Refunds by State