Filing Form 990 just got tougher for Not-for-Profits
Will Your Employees' Retirement Plans be Within Reach?
Understanding ERISA Fidelity Bonding Requirements
Protection if Employees' 401(k) Choices Yield Poor Results
Accelerating Your Retirement Savings
The Many Changes to the Form 5500 Filing Process
Audit Your Retirement Plan Before the Feds Do
Leaving IRA Money to Charity: A Tax-Smart Strategy
Age 50 or Older? Consider Extra Retirement Contributions
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Filing Form 990 just got tougher for Not-for-Profits
During 2009, we will begin the process of preparing the redesigned Form 990 for your organization. On the new Form, there are some questions about the organization's board and key employees that require you to obtain information regarding the business and family relationships among these individuals. Additionally, you will need to disclose the number of board members that are independent…
Will Your Employees' Retirement Plans be Within Reach?
Is your employees' future standard of living in jeopardy? Research suggests that many people who are poised to retire within the next couple of decades will be in for a rude financial awakening. Almost 45 percent of American households are "at risk" of being unable to maintain their pre–retirement standard of living in retirement, says one study…
Understanding ERISA Fidelity Bonding Requirements
Protection if Employees' 401(k) Choices Yield Poor Results
The last several years have seen major changes in retirement planning, as the responsibility for financing and investment choices has shifted increasingly to the employees. Although plan administrators are generally not responsible if an employee makes a poor choice, they are expected to ensure that a broad range of prudent choices is available. Is your business is in compliance with the law?
Over the last several years, the responsibility for financing one's retirement has increasingly shifted from the employer to the employee…
Accelerating Your Retirement Savings
If you've reached your late 40s or early 50s and find you haven't saved much for retirement, don't just abandon your retirement goals. You can still save significant sums by approaching the task seriously. Consider these seven strategies to jump start your savings.
Here are seven strategies to consider to accelerate your retirement savings:
1. Calculate precisely how much you'll need for retirement and how much you currently have saved…
The Many Changes to the Form 5500 Filing Process
Question:
I have heard about the changes to the Form 5500. Please tell me how this affects our plan.
Answer:
2009 brings many changes to the Form 5500 filing process.
For most small plan filers (generally under 100 participants), the Form 5500 and related schedules has been replaced with a streamlined two page form – Form 5500–SF.
For large plan filers (generally over 100 participants), the Form 5500 and related schedules will still be required…
Audit Your Retirement Plan Before the Feds Do
Many companies are unaware that their retirement plans have problems until they are audited by the IRS or investigated by the Department of Labor. However, by self–auditing your plan, you can identify and correct any problems before the federal government initiates an investigation.
Be Proactive to Protect Savings
It's a good idea for companies to self–audit their retirement plans to determine if there are any problems—before they hear from federal examiners…
Leaving IRA Money to Charity: A Tax-Smart Strategy
If you've been a smart saver, you may have IRAs with large balances. Chances are, you have designated beneficiaries for those IRAs, such as your children. But if you also have a favorite charity that you plan to leave money to, there may be a way to structure your estate so that taxes are minimized and everyone receives more—your loved ones and the charity. This article reveals eye–opening details.
Tax Wisdom
These days, many people have a large percentage of their wealth in the form of traditional IRA accounts…
Age 50 or Older? Consider Extra Retirement Contributions
Studies show that many Americans aren't setting aside enough money to make their retirement years secure. If you're getting a late start, even contributing the maximum amount each year might not be enough. That's why the IRS allows taxpayers age 50 and older to make additional "catch–up" contributions…