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.
By: Scott M. Cloud, MBA, CPC Including a safe harbor contribution provision in a 401(k) plan gives the plan an exemption to the actual deferral percentage (ADP) test that might otherwise limit the salary deferral contribution amounts of owners, family members of owners, and employees with gross annual wages of $135,000(*) or more (collectively...
By Scott Cloud, MBA, CPC What is the Startup Plan Tax Credit on Plan Expenses? What is the Startup Plan Tax Credit on Employer Contributions? Are non-profits or governmental employers eligible for Startup Plan Tax Credits? What types of retirement plans are eligible for Startup Plan Tax Credits? If an employer changes from one type of retirement...
Mandatory Provisions Optional Provisions: TRPC Elects to Default Optional Provisions: TRPC Elects Not to Default & the Employer Must Elect to Add Timing of the Amendment to Include SECURE Act 2.0 Changes Plan Document Amendments As part of the Consolidated Appropriations Act of 2023, SECURE Act 2.0 was signed...
Catch-Up Contributions Required Minimum Distribution (RMD) Beginning Age Eligibility for Long-Term, Part-Time Employees Financial Incentives to Increase Employee Participation Employer Match on Student Loan Payments Mandatory Automatic Enrollment in Startup 401(k) Plans Roth Treatment of Employer Contributions Mandatory Cash-Out Distribution...
The defined benefit pension plan is a popular post-retirement benefit. For the retiree receiving the pension, it’s a valuable perk. If you’re the employer obligated to issue those pension checks, not so much. The nature of a defined benefit pension plan is unpredictable. Unlike most retirement plans that balance risk and return based on market...
By: Scott M. Cloud, MBA, CPC There are several different types of retirement plans from which business owners can choose to enable themselves and their employees to save for retirement. For a listing of retirement plan options and a description of each, please see our article Which Type of Retirement Plan is the Best Fit for Your Business? Many...
