Independent Actuaries Blog Category: Tax Implications
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
Don’t Wait Any Longer To Set Up A Retirement Plan For 2016
Has saving money on taxes for your business been on your to-do list all year? Maybe it is left over from one or more years in the past? The end of 2016 is right around the corner, so what are … Continue reading
Discontinuing Employer Contributions and Vesting Requirements
Did you know that when employer contributions (e.g., profit sharing, safe harbor and matching contributions) to a defined contribution plan are completely discontinued, the plan’s accounts typically must be fully vested? As with all things IRS, it is important to … Continue reading
What Can You and Jeb Bush Have in Common?
A CPA acquaintance of mine recently forwarded this article to me (I had missed it when it was first published). The article reports that GOP presidential candidate Jeb Bush contributed an average of $350,000 per year into a defined benefit pension plan, … Continue reading
Good News for Oregon Taxpayers from PERS
At its July 30th meeting, the Oregon PERS Board voted to lower the rate of return assumed to be earned on its investments in future years from 7.75% to 7.50%. Not long ago the assumed rate was 8.0%. Except for … Continue reading
New Retirement Benefit Obligation Impacting Oregon Public Employers
Recent changes in actuarial standards are going to result in significant new benefit obligations for hundreds of Oregon public employers, beginning with 2016 fiscal year end reporting. Known as an “implicit rate subsidy”, this is a benefit that all Oregon … Continue reading
IRS Announces Pension Plan Limits for 2015
Believe it or not 2014 is quickly approaching its end and that means updated retirement plan limits. Earlier this week the IRS announced these new limits for 2015. Some limits increased from 2014 to 2015, and some stayed flat. Highlights include: … Continue reading
Expanding Possibilities for Cash Balance Plans
On September 19th the IRS issued both new proposed regulations and final regulations that update regulations originally issued in proposed form in 2010 covering Cash Balance and other hybrid pension plans. While the IRS did not address all questions left … Continue reading
Utilizing a Defined Benefit Plan in Business Transitions
In August, Karen Dunn, co-owner of Independent Actuaries, Inc., presented information on Utilizing a Defined Benefit Plan in Business Transitions. Several clients and colleagues attended the presentation which covered several topics, including: A general overview of Defined Contribution vs. Defined … Continue reading
