New Law Allows More Time to Avoid Tax on Defaulted Plan Loans

Wednesday, March 6, 2019

A loan default occurs when a retirement plan participant with a defaulted plan loan, following severance from employment or the termination of the plan, was subject to an offset against his or her account balance. Prior to 2018, a participant had only 60 days to come up with funds equal to the defaulted loan balance, […]

Congressional Initiatives and Regulatory Priorities

Wednesday, March 6, 2019

The changes ushered into our nation’s capital by the mid-term elections last year will undoubtedly have an impact on retirement policy and legislative priorities in the coming year. The change in leadership of the House committees that oversee retirement plans drive the legislative agenda for the new congress. The new House Ways and Means Committee […]

Social Security Planning

Wednesday, March 6, 2019

The focus of our practice is to help business owners accumulate assets through the private retirement system. However, many baby boomers are now confronting the dizzying array of options for claiming their social security benefits. Determining when to claim benefits can have a dramatic effect on your monthly income, and making the wrong choice could […]

Compliance Spotlight: Related Employers

Wednesday, March 6, 2019

Any type of business entity can sponsor a qualified retirement plan, from a sole proprietorship to a partnership of corporations. When entities are related, either through ownership or business affiliation, there are special rules that determine whether the entities can be treated as a standalone employer, or as one combined employer for retirement plan purposes. […]

403(b) Plans: The IRS Clarifies Plan Eligibility for Part-Time Employees

Wednesday, March 6, 2019

As we have written about in prior editions of EBS News (Summer 2016), 403(b) plans are challenged to track and account for part-time employees. 403(b) plans are generally required to cover all employees under their salary deferral plans (with specific exceptions), otherwise known as “universal availability.” One of the exceptions allows plans to exclude employees […]