When it comes to deciding on a retirement plan, there are many choices, yet, one plan that is increasing in popularity is the cash balance plan. Compared to traditional 401(k) retirement plans, cash balance plans come with a twist and numerous benefits that you may not have been aware of. In this week's blog, let's take a look at the six things you may not know about cash balance plans. 1. Significant Tax Benefits Cash balance plans can bring tax benefits to the company. Whe

Safe harbor 401(k) plans are among the most popular types of 401(k) plans used by small businesses. These plans help owners maximize the annual contributions made to their accounts because they automatically pass ADP/ACP and other top-heavy nondiscrimination tests. However, to achieve the Safe Harbor status, the plan must meet certain contributions and participant disclosure requirements. Let's talk a little more about the rules that Safe Harbor plans bring with them. If, as

Though it seems like it will never arrive, the end of the Coronavirus pandemic will come eventually, and the world will return to some sense of normalcy. Of course, right now everyone is rightly focused on their health and that of their families. But when the sun rises on that elusive day, we will need to keep on administering retirement plans. The pandemic has certainly had its impact on retirement savings: with the stock market dropping and 401(k) accounts taking a hit, 61

When it comes to your retirement plan, there are many forms and documents you should know about. Of primary concern should be what penalties may affect you if these forms are not filled out accurately or filed timely. Tucked away into the library of IRS and government forms are many documents that are easily confused, yet can open a floodgate of penalties for someone who doesn't understand the differences. Naturally, we want to help you avoid such penalties, so let's talk abo

The SECURE Act, passed in January 2020, was designed to make it easier to save for retirement by making retirement plans more accessible to more people and updating the laws that govern retirement plans to meet the needs of a changing workforce. Although many of the provisions are aimed at older workers and those closest to retirement, there are a few benefits designed for young workers, especially those who may be looking to start a family. One such provision creates the opt

Financial Advisors, Investment Providers and Retirement Plan Consultants (RPCs) are always looking for ways to stand out among their competitors and to prove that they are reputable and trustworthy. One way to demonstrate this is to earn the Seal of Excellence from the Centre for Fiduciary Excellence (CEFEX). You may have heard service providers tout the Seal of Excellence among their credentials, but what exactly does that mean to you? We are going to define the CEFEX Seal o