The conventional wisdom is that you can wait until the end of the year to put a retirement plan in place since you can still get the tax benefits for the whole year. Maybe for some purposes, but not for setting up a Safe Harbor 401(k) plan. If you want to set up a new Safe … Continue Reading
If you are a business owner/employer with a calendar fiscal year, you still have time to adopt a qualified retirement plan for 2017. Here’s what you have to do: Before December 31, 2017: Sign adopting resolutions and a plan document, and Deposit a de minimis amount, e.g., $1,000 in a trust account to establish corpus. … Continue Reading
In the world of science and engineering, a black box is a device, system or object which can be viewed solely in terms of its input and output without the user knowing how it works. In our ERISA world, a Cash Balance plan be a black box into which employer contributions are made on a … Continue Reading
