Retirement

Retirement 101

DEfined Benefits & Cash BAlance Plans

401(k), 403(b), and more

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Retirement University

We've put together videos, white papers, and blog posts to help you better understand retirement, 401(k), 403(b), and Cash Balance.

Sarah joined the Odyssey Advisors team in February, 2016. She works with clients to value their retiree medical, dental, and life insurance benefits.

We understand that you want to focus your time and energy on your business, not taxes and retirement. That’s why we are here to help!

- Sarah Rothenberg, ASA, MAAA, Consulting Actuary

The Perfect Time to Start a 401(k) Plan

“The best time to plant a tree is 20 years ago. The second-best time is right now.”  – Chinese Proverb If you’ve been thinking about starting a 401(k) plan, now is the perfect time! New changes through the SECURE Act are giving small businesses even more incentive – employers with fewer than 100 employees who…

401(k) Plans & Automatic Enrollment?

A recent study by Employee Fiduciary examined the negative aspects of automatic employee enrollment in 401(k) plans, particularly for smaller plans. Only 8.7% of small business plans (average of 25 participants with assets of $1M) automatically enroll eligible employees as opposed to 68% of larger plans. Why the contrast when automatic enrollment is traditionally seen as an…

SIMPLE IRA to 401(k) for 2018? The deadline is now

If you’d like to move to a 401(k) for 2018, you must notify employees by 11/2 As your business or that of your clients has grown, you may be thinking it’s time to upgrade your retirement plan from a SIMPLE-IRA to a 401(k) Plan. The issue is that you can’t switch mid-year as IRS rules…

401k

Do S-Corporation Distributions count for 401k & Pension Plans?

S-Corporations, Distributions, W-2 Wages, Self-Employment Tax, 401k & Pension Plans & their interaction – it’s all about balance. So, you’ve talked to your accountant & they tell you to minimize your W-2 wages to limit your self-employment taxes. Then, you talk to your investment advisor and they explain the advantages of tax-qualified retirement plans such…

401k

Can a LLC member contribute to a 401(k) Plan?

Generally 401(k) deferrals & contributions are allowed, but there are exceptions. The biggest issue to consider is whether or not the member/owner is providing material services that are income producing for the LLC. Here is the basic checklist or list of things to consider: Under Internal Revenue Code Section 401(c)(1), the IRS states that “employee”…

Vanguard How America Saves 2017 based on 2016 Defined Contribution Data - Target-Date funds roll on

Target-Date funds expand their reach in 401(k) plans

Vanguard Group recently issued their 110 page “How America Saves 2017” report on the behavior of defined contribution plan participants in the plans that they record-keep. The trend toward professionally managed options – primarily target-date funds – continues with 53% of participants using such accounts in 2016 (46% were in a single target-date fund). This is…

Looking to add a 401(k) Plan for your company?

The safe harbor deadline for 2016 is October 1st so time is of the essence If you or your clients have been thinking it’s time to add a 401(k) Plan for yourself & your employees, the time is now. As you’re likely aware, the IRS offers a “Safe Harbor” feature that means if you are…

2nd chance for those who missed the 60-day IRA/401(k) rollover window

New IRS waiver program effective immediately If you, one of your clients or one of your employees inadvertently exceeded the 60-day limit when moving retirement funds associated with a “rollover”, they can now receive an IRS waiver of penalties and keep this funds in a retirement plan. The full details may be found in IRS Revenue…

SIMPLE IRA to 401(k) for 2017? The deadline is now

If you’d like to move to a 401(k) for 2017, you must notify employees by 11/2 As your business or that of your clients has grown, you may be thinking it’s time to upgrade your retirement plan from a SIMPLE-IRA to a 401(k) Plan. The issue is that you can’t switch mid-year as IRS rules…

Your pension plan will be more expensive than you think

Returns on public sector pension plans reach a record low As the sponsor or contributing member of a public sector pension plan, you’re aware that investment returns have been lagging the assumed rate of return over the last few years. This, along with increased longevity of your retirees, is increasing plan liabilities & required contributions.…