Retirement Meditation #45: Do you know how many compliance tests are required annually for your retirement plan?
A plan sponsor offered a safe harbor 401(k) plan using the basic match formula and wanted to redefine compensation to exclude commissions for deferral and safe…
Retirement Meditation #44: Has my company outgrown its SIMPLE retirement program?
Pre-COVID, a small business investigated a move from their SIMPLE IRA to a more traditional 401(k) plan. The growing organization was approaching and looking…
Retirement Meditation #43: Why is my retirement account balance $0?
Years ago, a local drug store hired my middle daughter into her first “real job” as a retail clerk. She loved the work and servicing the public. She was also…
Retirement Meditation #42: What are the most common retirement plan audit findings?
A manufacturer offering a generous safe harbor 401(k) match noticed that it was losing employee talent and candidates to the competition. A review of its total…
There are certain actions you can take each year to help you stay on track to reach your financial goals and keep yourself financially fit overall. Consider…
Retirement Meditation #40: What does it mean that my retirement plan is Top Heavy?
A successful HVAC company sponsored a 401(k) plan. They matched 50% the first 6% of an employee’s deferral contributions; thus, a 6% of compensation deferral…
Retirement Meditation #39: When is a non-qualified deferred compensation plan not beneficial?
“Howard” succeeded his father to become the fifth-generation owner of the family’s funeral parlor. Now 60 and seeking to retire himself and with no children…
Retirement Meditation #38: Should my organization offer a non-qualified deferred compensation plan?
A 15-year not-for-profit Executive Director announced her intent to retire in six months, at the end of the organization’s November 30 fiscal year. The Board,…
