We’re Rebranding!
The Retirement Plan Company is becoming Daybright Financial—part of a unified rebrand of our parent company, U.S. Retirement & Benefits Partners, and all its firms.
While our name is changing, there are no changes to how you contact us or access your account. You’ll continue working with the same team, committed to helping you reach your retirement goals. To learn more, visit Daybright.com.
Components of Defined Contribution Plan Compliance Testing Does My Plan Need an Audit? 401(k) deferrals: Don’t exceed the limit! Reminder: Long-Term, Part-Time Employee Rules Effective January 1, 2024 Upcoming Compliance Deadlines for Calendar-Year Plans Plans must be tested each year to ensure that they are compliant with the laws governing...
By: Jerry Alena As small businesses become successful and enter the maturity phase of their lifecycle, their owners often contemplate how to transform hard work and equity into wealth. One of the most effective and tax-efficient ways to reallocate what otherwise would be taxable business earnings to a tax-advantaged retirement plan is by...
By: Scott Cloud, MBA, CPC Arguably the most common mistake made with small business retirement plans is the selection of “immediate eligibility/no waiting period” when drafting a SEP or Solo 401(k) plan document for a self-employed individual without any employees. The consequences of doing so can be disastrous for the business owner...
By: Gary L. Simon Jr., QPFC-Regional Vice President of Sales 3(16) fiduciary services, also referred to as 3(16) plan administrators, are one of the fastest-growing sectors of the retirement plan industry today. Utilizing a TPA that can offer these services is growing in demand. Let’s look at three main areas of this hot topic: • Plan Sponsor...
By: Scott Cloud, MBA, CPC Cash balance plans are a type of defined benefit retirement savings plan that enables business owners to make significant tax-deductible contributions each year and to accumulate significant retirement savings on a tax-deferred basis. While SEPs and 401(k)/profit sharing plans – as defined contribution retirement...
By: Jerry Alena Cash balance plans can help professional practitioners turn back time when it comes to saving for retirement. Because medical professionals spend a lot of time and money investing in their careers early on, they may not be able to invest in a retirement plan on a material basis until their 40s or 50s. College debt, medical school...
