Art of the Qualified Plan Audit

Along with the presidential election on Tuesday, November 8, another election that participants should have on their mind is the deferral for their retirement plan.

Every year, right around December 31st (and closer to January 1!), we sit down and start to draft up resolutions for the upcoming new year. Whether it’s aiming for a healthier life style, setting aside for targets at work, or perhaps being more fiscally responsible, it’s important to not only make these goals, but to have a plan in place for accomplishing them as well.

Whether it is when we are growing up, in school, or in our careers, we tend to gravitate towards those who are most like us and form groups.

Corbin Blue may not have been targeting plan participants as his audience when he told us to “push it the limit”, but what would those limits be if he was? Well we know what they are for 2015 thanks to a recent IRS announcement.

As discussed in one of our previous blog posts How to stop a non-elective contribution, circumstances and factors often arise that have us wishing that a commitment that we had entered into had an escape clause.

Imagine you come home from school after graduation and you see your mother beaming with a huge smile on her face. She asks to see your diploma (a certificate of completion in this example) and you oblige and move on to show your father the same.

When entering into a relationship such as marriage, there are immediate changes in one’s life. One of those is, of course, the requirement to consent.

Posted by Saaib Uppal, CPA As discussed in one of our previous blog entries, the IRS updated its regulations in 2009 to allow for the reduction and/or the suspension of safe harbor non-elective contributions if certain situations are in play. But, what should be the course of action for the employer who wishes to reduce/suspend a … Continued

Think back to your early childhood when your parents would try to get you to open your mouth and take in a spoonful of food. “Choo! Choo! Here comes the train!”

Having a target in mind is always a helpful approach when attempting to guide oneself towards a particular finish line.