2020 Pension Plan Limits
On November 6, 2019, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. The Internal Revenue Code requires that the Secretary of the Treasury adjust the limits annually. Some highlights are: The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan will increase to $19,500. The catch-up contribution limit for those aged 50 and…
A Guide for choosing the right advisor
You have decided to hire an advisor for your plan. How should you judge whether or not the advisor firm has the appropriate expertise for your organization? Here are some qualifying questions that may help. Click Here.
A Clearer View of Fees
Regulatory pressures, legislative pressures, and even internal company pressures all have an impact on the Plan Sponsor. Recently, there has been a multitude of lawsuits regarding the appropriateness of fees paid by participants. Fees are a complicated topic and even the most seasoned Plan Sponsors may be challenged to fully understand them fully. Plan Sponsors are held accountable not only to understand plan related fees but also to ensure that they are reasonable and transparent from an employee/participant perspective. There…