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SEP or 401(k) Profit Sharing Plan

Which Should You Choose? The Simplified Employee Pension Plan (“SEP”) IRA and the 401k Profit Sharing Plan (401k PS) are two of the most common retirement plans for successful small businesses and self-employed individuals, since they offer high contribution limits and flexible annual contributions. But which is right for you—the SEP or 401k PS? That…

Q1 2022 – Plan Sponsor Quarterly Update

Q1 2022 – Plan Sponsor Quarterly Update

Q1 Edition, January 2022 Welcome to Plan Sponsor Quarterly Update As your Third-Party Administrator (TPA), we are privileged to have the opportunity to work with you as a valued plan sponsor client. As part of our commitment to delivering industry insights to assist you, we are delighted to introduce a new quarterly plan sponsor newsletter…

Plan Theft as DOL Area of Focus

Plan Theft as DOL Area of Focus

By Kelsey Mayo, Partner, Poyner Spruill Plan theft is a perennial hot-button issue in the benefit plan arena. Recent estimates show that defined contribution plans alone guard benefits for over 106 million participants and over $6.3 trillion in assets. Plan sponsors, administrators, and fiduciaries should ensure that they are implementing reasonable processes to routinely evaluate…

Best Practices for Plan Sponsors

Best Practices for Plan Sponsors

By Kelsey Mayo, Partner, Poyner Spruill What does “testing season” mean? Qualified plans provide great tax benefits—a tax deferral for participants and an immediate deduction for plan sponsors.  In exchange for these benefits, the plan must jump through a number of hoops, including annual testing. These annual tests will include some or all of the…

About Smart Plan

SmartPlan: Interactive Retirement Enrollment & Education As an industry leader in corporate retirement planning, PlanPerfect is proud to offer SmartPlan; a new retirement platform designed to make it easier to enroll and educate your employees on your company’s retirement plan, so they can start on the path to a better, brighter future. SmartPlan allows your…


Deadlines to adopt a new Defined Benefit Pension, Cash Balance, or 401k Profit Sharing Plan have been extended beyond December 31st

    (This article was adapted by permission from the original version written by Eric C. Droblyen, CPC, QPA of Employee Fiduciary). With the passage of the 2020 Setting Every Community Up for Retirement Enhancement (SECURE) Act CPA’s and investment advisors have more flexibility to help business owners capitalize on important tax planning strategies in…