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Many of our clients are feeling the far-reaching affects of COVID-19, both from a health standpoint and a financial one. As a 401k TPA (Third Party Administrator) of retirement plans for dozens of organizations, the staff at PlanPerfect Retirement believe it’s important to try to unravel the confusing language of the Coronavirus Aid, Relief, and…
Retirement plans fall into one of two categories: Defined Contribution Plans and Defined Benefit Pension Plans. Defined Contribution Plans, also known as retirement savings programs, cover a broad range of programs such as Profit Sharing and 401(k) plans. These types of programs allow owners and employees to make contributions that are allocated to individual participant…
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…
A recurring question that comes up each year is how much can I contribute to a retirement plan?
When it comes to 401(k) plan administration and payroll, they don’t have much to do with each other beyond salary deferrals
Click Here For Pdf 2020-IRS-COLA A cost of living adjustment (COLA) can be defined as an increase in wages or contributions to match the rate of inflation. The figure will vary based on where you live and includes estimates based on things like housing, clothing, utilities, food, taxes, etc. As the cost of living increases…