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Publications

  • 1-15 of 15
  • 01/26/2017
    Retirement Plan Distributions: Quick Guide on Annuity or Lump Sum Withdrawals
    By Michael Ibrahim, FSPA, FCA, EA, Director

    Should I take the annuity or lump sum? A question retirees and older workers likely will be asking as U.S. companies move to de-risk their defined benefit plans by removing expensive pension obligations. Employers may purchase annuities for their pensioners, while others offer cash or a single lump sum payment...

  • 10/18/2016
    All You Need to Know About Mandatory Withdrawals From Retirement Funds
    By Carol Musanti, Pension Administrator

    Most of us are years away from having to seriously consider withdrawing funds from retirement savings to finance our “golden years”. However, for many baby boomers that time is now. As retirement approaches, it is important to remember that at age 70-1/2, you are required to begin taking required minimum...

  • 08/02/2016
    SEP, Simple or Traditional Pension Plan: An Employer's Best Option?
    By James T. Williams, Pension Administrator

    When an employer considers establishing a retirement plan for their organization, there are numerous factors to consider. How much will the Company contribute and what will the employee cost be? What is involved in plan administration? Can the employer assume the responsibility for plan administration or should a professional service...

  • 02/23/2016
    Critical Deadline Looming, All Qualified Plan Documents Must Be Restated

    This is an update to an article published in August 2014 If you sponsored a 401(k) or other type of defined contribution retirement plan for your employees and used a "pre-approved" type of plan (i.e., prototype and volume submitter), you were required to restate the plan before April 30, 2016. If...

  • 11/12/2015
    Take Extra Care When Attempting Tax-Free IRA Rollovers
    By David A. Shuster, JD, LLM, Director, Tax Controversy Services

    For approximately 20 years prior to 2015, an individual could roll over a distribution from an IRA free of tax as long as that IRA wasn’t involved with a tax-free rollover distribution within the preceding one-year period. For example, suppose an individual with three IRAs took a distribution from IRA-1...

  • 08/18/2015
    When to Start Taking Social Security and Some Strategies for Maximizing Benefits
    By David Waddington

    If you’re like most people, you are probably looking forward to retiring and living as long and as comfortably as possible. As you plan for retirement, however, concern can creep in regarding how long your money will last. That’s why Social Security may be a bigger piece of your retirement...

  • 05/18/2015
    Defined Benefit Plans Versus Defined Contribution Plans
    By Michael G. Ibrahim, FSPA, FCA, MAAA, EA, Director

    Retirement plans may be categorized as either defined benefit or defined contribution plans.  The so-called hybrid plans, such as cash balance plans, contain characteristics of both plans but fall under the defined benefit plan category.  The characteristics of each type of plan as well as the pros and cons of...

  • 02/16/2015
    401(k) Employer Contribution Safe Harbor Options
    By Carol Musanti, Pension Administrator

    A 401(k) plan permits employees to contribute (an “elective deferral”) and invest funds under a company-sponsored plan before federal incomes taxes are deducted.  Like all qualified retirement plans, 401(k) plans cannot discriminate in favor of highly compensated employees. In order to prove that it is not discriminatory, a 401(k) plan...

  • 11/17/2014
    Satisfying the Compliance Requirements for a Plan to Maintain its Tax-Qualified Status
    By James Williams

    All members of a controlled group are treated as a single employer and the plan must satisfy the following compliance requirements for a plan to maintain its tax-qualified status.

  • 11/17/2014
    Controlled Groups' Effect on Retirement Plans for Family Owned Businesses
    By James T. Williams

    Most business owners make the decision to start up a retirement plan for a specific company and employees in mind. When establishing this plan, owners should be aware of the effects being part of a controlled group of trades or businesses can have on the company. Joint ownership in other business ventures must also be taken into consideration to ensure the retirement plan is compliant with Internal Revenue Service and Department of Labor regulations, as well as addresses minimum coverage, nondiscrimination and plan documentation requirements.

  • 08/18/2014
    All Qualified Plan Documents Must Be Restated
    By David Waddington

    If you sponsor a 401(k) or other type of defined contribution retirement plan for your employees and use a "pre-approved" type of plan (i.e., prototype and volume submitter), you will be required to restate the plan within the next two years. Failure to complete this restatement before April 30, 2016...

  • 05/19/2014
    Why Defined Benefit Plans are Best
    By Michael Ibrahim

    The defined benefit plan was the way corporate America first met retirement needs of employees over the age of 65. For more than seven decades, it has been used to provide working-life income during an employee's retirement years. However, changes to employee demographics, federal law and more detailed and complex...

  • 02/24/2014
    What is a New Comparability Plan?
    By Carol Musanti

    In previous years, choosing a profit sharing allocation method was simple. Pro-rata, percentage of compensation or a formula utilizing the social security wage base just to name a few.

  • 11/12/2013
    Cash Balance Plans: A perfect fit for seasoned professionals in the services industry
    By James Williams

    In many instances, professionals in the early years of developing their practices will delay putting funds aside for retirement.

  • 09/13/2013
    "Safe Harbor" and Deposit of Employee 401(k) Contributions
    By David Waddington

    Although The Department of Labor (DOL) published final regulations on January 14, 2010 (and effective on that date) providing "safe harbor" rules governing timely deposit of employee 401(k) contributions...