Pension Admin & Consulting

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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 This “recharacterization” technique has been repealed by the Tax Cuts and [...]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 [...]

Top Retirement Plans for Self-Employed Workers

By | 2018-01-11T20:50:29+00:00 October 5th, 2017|News & Events, Pension Admin & Consulting|

At one time, pension plans and other qualified retirement plans were usually offered only by larger companies, but now, many small companies have caught up. In fact, if you are self-employed with just one or two employees—or maybe just yourself—you still have plenty of retirement plan options at your disposal. Here are four popular [...]

Gearing Up for an Auto-enrollment 401(k) Plan

By | 2017-06-28T16:11:14+00:00 July 5th, 2017|Corporate & Partnership Tax, Individual Tax, News & Events, Pension Admin & Consulting|

A 401(k) plan can be a win-win situation for employees and employers. Just take a quick look at the payoff. *For employees: You can defer up to $18,000 of salary to your account in 2017 ($24,000 if you are age 50 or older), before any employer-matched contributions. Contributions may grow without any tax erosion until [...]

Ten Moves Forward for a Second Marriage

By | 2017-05-25T20:36:08+00:00 May 30th, 2017|Estate & Trust, Individual Tax, News & Events, Pension Admin & Consulting|

Consider estate-planning implications If you are getting remarried, you may face some special estate-planning challenges, especially if you have children from a prior marriage. The following 10 tips may help. 1. Talk with one another. Do not start off a marriage by hiding financial interests or concerns from one another. For instance, if you intend to [...]