PensionQuote Blog
Become Your Client’s Problem Solver
For the last three decades, our firm has worked with thousands of financial professionals… and in my ten years of tenure I have observed several trends that may help you help your clients. The plans we design are for your high income, high net worth, affluent...
Wall Street Scam
Wall Street and the financial world is a buzz after the recent CBS’ “60 Minutes” report alleging that the U-S stock market is rigged by high frequency traders and stock exchanges. The alarming portrayal of the market claimed high frequency traders “front run...
The Continuing Evolution of the Safe Harbor 401(k) Plan
April 2014 Newsletter Introduction Background Tried it but didn't like it Tried it, like it, but want to make a few changes Forfeitures...be careful when and how you use them Oops! Forgot to provide the safe harbor notice! Conclusion The safe harbor 401(k) plan roared...
Cross-Testing: The Right Tool for Many Jobs
As the national economy continues its recovery, more and more businesses are beginning to see their financial situations improve to near pre-recession levels. Companies that have not thought about making profit sharing contributions for years are starting to consider...
Under Control or Out of Control
In today's business climate, it seems it is becoming increasingly common for businesses of all sizes to be structured using multiple companies. Maybe a business person is pursuing multiple ventures with different groups of co-owners. Perhaps a company decides to offer...
The IRS Meets Letterman
Anyone who has ever watched late night television is familiar with the ubiquitous Top 10 List, counting down humorous examples of whatever is in the news. Not to be upstaged, the IRS has its own Top 10 List—the top 10 plan compliance failures found in voluntary...
How to Survive a Visit from the IRS or DOL
There are few things that will give a person that sinking feeling in the pit of their stomach like opening the mailbox and seeing an envelope with the words "Internal Revenue Service" (or Department of Labor) in the return address. It is similar to seeing that police...
Top Heavy Impact on 401(k) Plans
There are many reasons for the wide popularity of 401(k) plans, one of which is that they shift the funding burden from employers to employees. But this advantage may be diminished for plans classified as "top heavy" where special contribution rules kick in that plan...
At Your Service
One of the most fundamental requirements in managing a qualified retirement plan is counting an employee's length of service. It is the basis for determining such items as plan eligibility, entitlement to company contributions, vesting and even retirement itself....
Increasing 401(k) Plan Participation
Cash or deferred retirement plans, more commonly referred to as 401(k) plans, have become the backbone of the private pension system in America. They long ago replaced employer-sponsored pension plans as the most common vehicle for retirement savings. These plans,...