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Category: 401(k)

Boost Participation in 401(k) Plans to Avoid the Dreaded “Rebate” Check

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A bank error in your favor … a rebate on the purchase of a car … a tax refund from the IRS. Most of us welcome getting money back in one form or another. But many business owners and executives are less than thrilled when they have to take back money they have already contributed […]

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The IRS Identifies Common Mistakes by 401(k) Plans

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Few things make palms sweat and throats constrict more quickly than when the IRS hands out a list of “mistakes.” Each year, the IRS publishes a list of common mistakes by companies that sponsor 401(k) retirement plans. Instead of being intimidating, however, the tax agency’s findings can actually prove beneficial to those businesses that take […]

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DB/DC Combo Plans Maximize Contributions to Key Personnel

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One way to maximize benefits to key personnel and also maximize the key personnel’s share of the company’s total retirement plans contributions is referred to as a defined benefit/defined contribution (DB/DC) combo plan. These plans require general nondiscrimination testing and must follow several additional rules.  These include a gateway test that must be passed which […]

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