New year, new opportunities. Just as annual limit increases prompt plan checkups and fresh strategy conversations, SECURE 2.0’s mid-year SIMPLE IRA “off-ramp” gives advisors a timely way to help growing employers pivot into a more robust retirement plan without waiting for the next calendar year. Thanks to SECURE 2.0, employers can now replace a SIMPLE… [keep reading…]
Tag: SIMPLE IRA
Tax Planning for Individuals
With tax year 2021 coming to a close, we need to consider what can be done to help lower your tax bill for this year and next. With the uncertainty of pending legislation, here are some tax planning ideas for individuals: Income/Deduction Deferral or Acceleration Consider the following to accelerate income into the current year:… [keep reading…]
The Department Of Labor Guidance On Locating Missing Participants
The Department of Labor (DOL) issued guidance and best practices on January 12, 2021 to pension plans in hopes that Plan Sponsors can locate missing participants. The guidance provides various communication strategies and ways to search for missing participants. The end goal is to have zero missing plan participants, which may be difficult to accomplish,… [keep reading…]