Independent Actuaries Blog Author: Josh Harris

2020 Retirement Plan Limits

The IRS has announced the new retirement plan limits for 2020. Most limits increased from 2019 to 2020, and some stayed flat. Highlights include: The compensation limit used in determining benefits and contributions for both defined benefit and defined contribution … Continue reading

Tax Season is Over! Could Your Business Use a Deduction?

Now that the extended tax season is over, it’s a great time to consider if a qualified retirement plan is right for your business. Since contributions to these plans are deductible, setting up a qualified retirement plan is an effective … Continue reading

Two Wrongs Don’t Make a Right

The deadline to make a contribution to a qualified defined benefit plan with a plan year of January 1st – December 31st is September 15th. If you missed this deadline and your plan has unpaid minimum required contributions, the IRS … Continue reading

IRS Announces Retirement Plan Limits for 2018

The IRS has announced the new retirement plan limits for 2018. Some limits increased from 2017 to 2018, and some stayed flat. Highlights include: The compensation limit used to determine benefits and contributions for both defined benefit and defined contribution … Continue reading

ERISA Bonds

We frequently mention ERISA bonds in our communications with plan sponsors. An ERISA fidelity bond insures the plan against losses due to fraud or dishonesty by those who have access to those funds. Because such losses are rare, the cost … Continue reading

Roth Opportunities in Qualified Plans

Business owners who are contributing to a Roth IRA (or are considering if they should) can realize a greater impact with the Roth features in a 401(k) plan. 401(k) plans can allow participants to defer salary as a Roth contribution … Continue reading

Consumer Financial Education: Advice from Experts on a Variety of Financial and Consumer Topics

When it comes to financial decisions such as when to start taking Social Security benefits, how to save and plan for retirement, or what types of insurance to carry, many of us have questions or wish we knew more on … Continue reading

The Importance of Maintaining Valid Social Security Numbers

According to a study done by ID Analytics, Inc., over 40 million Social Security Numbers (SSNs) are associated with more than one person. Of the 280 million SSNs they studied, that means one in every seven SSNs are being used … Continue reading