After nearly four decades in exile, inflation is making a largely unwelcome comeback.

By: Jerry Alena On October 13, 2021, the Social Security Administration released the 2022 cost-of-living (COLA) increase. At 5.9% it is the largest single -year increase in 40 years.The new OASDI Taxable Wage Base for 2022 was increased to $147,000 from $142,800.Social Security serves over 70 million Americans. Increased payments to 8 million SSI...

Fall 2021 – The Retirement Plan Company Newsletter

Save More for Retirement in 2022 Form 5500 Filing Extension for FEMA Designated Disaster Areas Upcoming Compliance Deadlines for Calendar-Year Plans Participant Distribution Fraud in the “New Normal” Save More for Retirement in 2022 On November 4, 2021, the IRS announced the Cost of Living Adjustments affecting the dollar limitations for...

Transitioning from a SEP or SIMPLE IRA to a 401(k) Plan

By: Scott M. Cloud, MBA, CPC There are several different types of plans from which business owners can choose to enable themselves and their employees to save for retirement.  The type of plan that is most appropriate for a business depends on a number of factors, including: how the business is structured, how much the owners wish to save,...

Frequently Asked Questions about Cash Balance Plans

By:  Scott Cloud, MBA, CPC and Kyle Brown, CEBS 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...

Summer 2021 – The Retirement Plan Company Newsletter

Missing Participants: Ready or Not Here I Come! Safe Harbor: A Cure For Your Testing Headaches Upcoming Compliance Deadlines for Calendar-Year Plans Looking to Maximize Savings? Cash Balance Could Be the Answer! Missing Participants: Ready or Not, Here I Come! Most plan sponsors can relate to the trials and tribulations of having missing...