Independent Actuaries Blog Author: Steve Diess

A Second Bite at the Apple

Last December was a bit quieter than usual at IAI, and it wasn’t just due to the fact that almost all of us were working from home. We’re usually really busy with getting new retirement plan documents in place for … Continue reading

PPP Loans and Retirement Contributions

The hugely popular Payroll Protection Program (PPP) provides loans to small businesses that are ultimately forgivable if the funds are used to cover payroll costs and other specified expenses within the eight weeks following receipt of funds, so long as … Continue reading

DB Plans – Close vs. Freeze vs. Termination

In a recent blog we discussed concerns that defined benefit (DB) plan sponsors may have in the face of the COVID-19 outbreak. One of those concerns regards near-term contribution requirements that may be overly burdensome when coupled with severely reduced … Continue reading

Hold Off Taking that RMD!

Participants in retirement plans are generally required to take Required Minimum Distributions (RMDs) beginning with the year in which they turn age 70½ (if that year was before 2020), or the year in which they turn age 72 (if that … Continue reading

You Get What You Pay For

We are not alone at IAI in having competitors who undercut us in price; it comes with being a part of a well-functioning democracy. One particular challenge we face, though, is a general misunderstanding of what it is we do, … Continue reading

Defined Benefit Plans Can Get Sick, Too

As has been well-publicized, the Coronavirus (along with other factors) has resulted in a steep financial market plunge this week. As of the day I’m writing this, the S&P 500 is down nearly 24% since the beginning of 2020, with … Continue reading

Congress Passes Retirement Legislation

Yesterday (December 19), Congress passed a spending bill containing sweeping retirement plan legislation, designed to allow and encourage Americans to save more. The portion of the legislation pertaining to retirement is called the Setting Every Community Up for Retirement Enhancement … Continue reading

Josh Harris, Enrolled Actuary!

As a business owner, one of my greatest pleasures is watching as our younger consultants grow in their careers. As such, I’m very pleased to announce our newest Enrolled Actuary, Josh Harris! Although Josh had previously acquired his Associate of … Continue reading

What’s on Your Christmas List?

Ah, December! Logs are crackling in the fireplace, hot chocolate’s on the stove, and our printers are churning out plan documents. Truly the most wonderful time of the year! Remember that a tax-qualified plan document needs to be prepared and … Continue reading

Tax Reform and Retirement Plans

We’re getting a lot of questions these days about how the proposed tax reform bills might impact retirement plans. For reference, this Forbes article provides a good summary and comparison of current law versus the House and Senate bills. Here … Continue reading