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

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.…

Senate Unemployment Bill, MAP-21 & Pension Funding

For everyone following the ongoing negotiations over extension of unemployment benefits, the current language would impact sponsors of defined benefit (“DB”) pension plans by lengthening the phase-out period for the pension funding relief under “MAP-21”.  As a sponsor of a DB plan covered by ERISA, this would extend the MAP-21 phase out date from 2018…

Is A Solo DB Plan Right For Me?

If you’re a one-person business or have substantial self-employment income outside of your “regular” job, a Solo Defined Benefit (“DB”) plan may be for you.  We recently received a call from a professional with the situation of a surprise $250,000 income boost this year and another $100,000 the following year.   His question was “how can…

Pension Obligation Bonds And How They're Viewed

A Pension Obligation Bond has a ripple effect. The key is to thoroughly investigate from the outset whether or not this financial instrument is the most suitable choice. It is a long-term commitment involving a fixed repayment schedule. The rewards forever hold the promise of outweighing the risk. Each municipality has a different degree of…

Top Reasons for Setting Financial Goals

Retirement planning is most certainly a marathon and not a sprint. It is a journey you will be on for decades, with a clear financial goal at the “finish line”. That goal is to be able to retire at a standard of living that is acceptable to you. The total nest egg you need to…

Top Reasons to Invest for Retirement

Here is a breakdown of the inherent benefits and incentives involved in retirement planning. Choice There are unlimited investment options available in today’s world. You can stay with a simple index fund or you can tailor your choices. Low Costs The costs of investing in retirement plans and IRA’s have never been lower. You are…

Top Reasons to get Educated on your Financial Future

Hindsight is 20/20, but that wisdom winds up arriving too late. In order to secure a satisfying and comfortable retirement, you will need to educate yourself about how to arrive at such a successful financial future. A financial advisor can handle the specifics of investment vehicles and strategies, but the long-term road map is dependent…