Public sector (government) retirement plans
and plans sponsored by churches are not covered by ERISA.
If the combined total of all the withdrawals from different retirement plans
exceeds $100,000, they will have to pay a Sec.
Discrimination rules for both HSAs and qualified retirement plans
are intended to ensure that the plans are operated for the benefit of all participants, not just the highly compensated.
A landmark ruling by the Supreme Court in 2004 and decisions by lower courts and the IRS have changed the protection offered to taxpayers on assets they hold in tax-qualified retirement plans
Moreover, the AICPA said, any proposal that requires employers to redesign their plans would likely decrease sponsorship of retirement plans
among small employers.
But the leading reason of claims against plan service providers seems to be the "top-heavy" status of qualified retirement plans
As an employee of this organization, a doctor may participate in any of the new employer's retirement plans
for which he or she meets the eligibility criteria-- often one year of service--and become vested in contributions or benefits provided under such plan in accordance with the plan's schedule.
AUSTIN, Texas -- Retirement Plan
Solutions LLC an independent retirement plan
consulting firm has unveiled a proprietary participant fee disclosure statement designed to provide easy to understand information to employees while also helping the retirement plan
sponsor fulfill their increased fiduciary burden.
AS RETIREMENT PLANS
ARE DEVELOPED, senior partners may have doubts about whether their successors can honor future obligations, intend to stay with the firm or have what it takes to keep the firm running.
The opportunity to adopt such a program has been available for years, but it simply is not feasible for the majority of employers that sponsor qualified retirement plans
According to Jim Davey, senior vice president and director of The Hartford's Retirement Plans
Group, "The Pension Protection Act contains a number of key provisions, but at close to 1,000 pages, it might be difficult for the individual to grasp its value.
Excise tax: A 15% excise tax applies to a retirement accumulation that exceeds the amounts in aD of an individual's retirement plans
over the present value of an annuity paid over the individual's life expectancy as of the date of death.
For many individuals, the amounts in their retirement plans
represent security and their ability to live comfortably once their working days are over.
Launched in January 2003, GPS delivers comprehensive investment advice and discretionary managed accounts services to individual participants in employer-sponsored defined contribution retirement plans
- principally in the accumulation and transition phases of retirement planning.
The biggest disadvantage of qualified retirement plans
is that an individual may have to make contributions for any employees.