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…

How the CARES Act Affects Retirement Plans

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…

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Combination Plan Design

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…

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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…

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Earned vs. Passive Income: Why It Matters For Retirement Contributions

A recurring question that comes up each year is how much can I contribute to a retirement plan?

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Buyer Beware: Why retirement plan sponsors should think twice before using payroll provider TPAs

When it comes to 401(k) plan administration and payroll, they don’t have much to do with each other beyond salary deferrals