401K

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Solo 401(k) Flexibility

In December, President Biden signed the SECURE 2.0 Act of 2022 (SECURE 2.0) into law. SECURE 2.0 has over 90 changes to help retirement savers and to urge more employers to offer retirement plans. One of these changes allows more flexibility for the Solo 401(k). What is a Solo 401(k)?…

April 4, 2023

Increase in Age for RMDs

In December 2022, President Biden signed the SECURE 2.0 Act of 2022 (SECURE 2.0) into law. SECURE 2.0 contains over 90 changes to help retirement savers and urges more employers to offer retirement plans. One of these changes increases the age at which you must begin taking Required Minimum Distributions…

March 28, 2023

SECURE 2.0

In December, a government spending bill was signed into law with several significant retirement provisions. Here are some of the significant tax and retirement-related provisions included in the SECURE 2.0 Act of 2022. Expanded Automatic Enrollment in Retirement PlansFor retirement plans set up after the enactment date of SECURE 2.0,…

January 19, 2023

401(k)/403(b) Audit Requirements/Quality Study Results

The Employee Retirement Income Security Act of 1974 (ERISA) sets requirements for plan sponsors of 401(k) and 403(b) plans to help protect the interests of the participants and beneficiaries of these plans.  Among many items established by ERISA, certain plans are required to have annual audits performed on the plan’s…

December 4, 2019