During the past couple of months, many businesses have been going through audits of their company’s retirement plan. As you may know, these compliance audits differ vastly from the traditional financial statement audits. This is due to not only the compliance regulations of these plans, but also the different...
We all know saving for retirement is important for everyone but for self-employed individuals, it’s not as easy. You may feel overwhelmed at the multitude of options, rules, and limitations for the different plan types. Below is a summary of self-employed retirement options and important details for each, including...
Benefits of offering a 401k plan to your organization There a number of retirement plans for employees but trillions have already participated in 401k plan in the US making it a very popular employer-sponsored retirement plan. If your business or organization has not offered this plan yet, here are...
When your company sponsors a qualified retirement plan, you must comply with complex rules established by the IRS and the Department of Labor. Ignore the rules and your firm could face costly penalties from federal regulators — and plan participants might sue you for mishandling trust assets.
Social Security benefits are in the news as its funding and longevity has come into question. If you are depending on social security, you may need to look into other options to help fund your retirement and give you the lifestyle you’ve planned on.