Pension Admin & Consulting

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Retirement Saving Through the Years: Guidelines for different life stages

By | 2019-04-04T21:54:44+00:00 April 5th, 2019|Pension Admin & Consulting, Press Releases|

When should you start saving for retirement? Probably the best answer is “yesterday.” If you have not started putting aside funds yet, the next best answer is “now.” In other words, it is not too early to begin saving for retirement, nor is it generally too late, although the manner and method of savings [...]

Is Time Running Out for Your FSA?

By | 2019-02-18T20:12:25+00:00 February 25th, 2019|News & Events, Pension Admin & Consulting, Press Releases|

If your company maintains flexible spending arrangements (FSAs) for the healthcare expenses of employees, an important deadline may be looming: March 15, 2019. For many healthcare FSAs, this is the last day you can withdraw funds from the balance in your account for 2018. Background: An FSA is funded with pre-tax dollars, so there are [...]

Retirement Plan Limits Going Up

By | 2018-12-20T14:49:50+00:00 December 26th, 2018|News & Events, Pension Admin & Consulting|

The IRS recently announced annual cost-of-living adjustments for certain retirement plans for 2019. See the chart below for several key changes.     Limit for 2018 Limit for 2019 Maximum annual dollar benefit for a defined benefit plan $220,000 $225,000 Maximum dollar limit on additions to a defined contribution plan $55,000 $56,000 Maximum amount of [...]

Roth Re-characterizations: How to undo a conversion to a Roth

By | 2018-10-30T20:22:51+00:00 October 1st, 2018|News & Events, Pension Admin & Consulting|

When it comes to taxes and finance, there is usually no going back in time. However, a notable exception may apply if you converted a traditional IRA into a Roth last year. In effect, you can undo a conversion as if it never happened. This “recharacterization” technique has been repealed by the Tax Cuts and [...]

Can You Afford to Retire Early?

By | 2018-08-09T21:19:07+00:00 August 9th, 2018|Entrepreneurs, News & Events, Pension Admin & Consulting, Social Security|

If you are like many Americans, you may have visions of an early retirement. Although there are usually hurdles to overcome, the dream may become a reality, depending on your answers to the following questions. Q. Are you financially ready to retire? Some people begin planning for retirement when they are young, intending to call [...]

IRS Bumps Up Retirement Plan Limits

By | 2018-03-08T21:54:15+00:00 March 8th, 2018|News & Events, Pension Admin & Consulting|

The IRS recently announced its annual cost-of-living adjustments for certain retirement plan limits for 2018. Any adjustments, as shown below, are relatively small.   Limit for 2017                         Limit for 2018   Maximum annual dollar benefit for a defined benefit plan                                                        $215,000                                $220,000 Maximum dollar limit on additions to [...]

Hurdle the IRA Rollover Limit

By | 2018-01-11T20:49:42+00:00 November 17th, 2017|Individual Tax, News & Events, Pension Admin & Consulting|

If you want to move funds from one IRA to another—say, for investment purposes—you can use a rollover, but only once a year. Under the Tax Court’s interpretation of a recent case, this applies to all your IRAs, not just one specific, separate IRA. However, the once-a-year limit does not apply to trustee-to-trustee transfers [...]