ERISA also requires that those who handle retirement plan
funds or other property must be covered by a Dishonesty Bond (Fidelity Bond) to protect the retirement plan
's assets from fraudulent or dishonest acts of the fiduciaries.
Taxpayers should check with their employers to determine whether their retirement plan
permits or is considering permitting this option.
Shumate case)--and other recent rulings on the subject, and provides CPAs with guidance on how to protect their own and their clients' 401(k)s and other retirement plan
assets from creditors.
Moreover, the AICPA said, any proposal that requires employers to redesign their plans would likely decrease sponsorship of retirement plans
among small employers.
CPAs, who are often the frontline advisers to the company and act as liaisons between their clients and their retirement plan
administration firms, need to be on the lookout for signs a retirement plan
may be top-heavy--and know how to keep the balance.
However, a qualified retirement plan
must satisfy certain highly technical standards regarding minimum coverage and nondiscrimination in contributions or benefits, which can snare many of these physician/hospital/management services arrangements.
Comprehensive does not need to be complicated," according to Greg Gaynier, principal at Retirement Plan
As a result, many employers are considering using a matching concept, similar to the match used in their qualified retirement plan
A funded retirement plan
has the additional advantage of being a powerful tool for recruiting and keeping staff.
401(k) contributions, there are many other issues that severely limit the feasibility of implementing a program to convert unused vacation days into retirement plan
Financial professionals are provided guidelines from The Hartford on how the Act frees them to offer more advice than in the past to retirement plan
The advantage of naming a charity as the primary beneficiary is that the retirement plan
interests will not be subject to estate or income taxes.
In addition, any transaction with a disqualified person that involves retirement plan
assets or income for personal benefit is prohibited.
GPS was the first independent advice and managed-account platform of its kind offered to qualified group retirement plan
contributions for the owner are not deductible in computing SE tax.