This article examines the different contribution and distribution rules for the two types of plans.
Types & Qualifications
Tax-exempt Sec. 501(c)(3) charities, public schools, and certain other entities can generally adopt either Sec. 403(b) or Sec. 401(k) retirement plans. While the rules applying to these plans are often substantially the same, there are many significant differences.
This item discusses some of the conditions set out in the rule for an employer group or association to join together to establish an MEP and who can be covered under the plan.
Regs. Sec. 54.9815-1251 defines a grandfathered health plan as coverage provided by a group health plan, or a health insurance issuer, in which an individual was enrolled on March 23, 2010.
This article discusses what is needed to help clients who have an IRA invested in PTPs pay the correct amount of tax.
If the plan is changed in exchange for actual ownership, the results under Sec. 409A are vastly different for phantom stock plans, stock options, and SARs.
This article discusses a few relevant questions that employers offering fee-free or reduced-fee investments should consider.
There are choices in setting up a plan, and the plan sponsor should understand the advantages and disadvantages of different plan design choices.
This item briefly discusses some risk areas for newly domesticated CFCs to help advisers spot issues for clients.
Excess contributions to IRAs are generally subject to a 6% excise tax each year until they are eliminated from the account. This article identifies the ways taxpayers can eliminate excess contributions and discusses the pros and cons of using the different methods in various situations.
The act contains changes to existing law, mostly designed to encourage retirement savings and to make it easier for employers to offer retirement plans.
The Forms 990-T prepared by the accountant hired by the broker may be wrong, and not usually in the client’s favor.
This item summarizes some fundamental income tax considerations for employers related to stock-based compensation under U.S. federal income tax laws.
This article discusses several key factors that CPAs and benefit plan advisers should consider to help successfully integrate plans during a merger or acquisition.
These plans offer much greater flexibility than traditional defined benefit plans, which have more rigid requirements.
Increasing contributions can qualify some business owners for additional tax deductions.
This article analyzes how an employee should decide whether to borrow from his or her qualified retirement plan.
The IRS identified transactions that improperly avoid limits on contributions to Roth IRAs.
The IRS revealed that the recalculated 2018 pension contribution limits are unchanged from the numbers issued before the tax reform bill was enacted.
The IRS released the inflation-adjusted amounts that apply to pension and 401(k) plans for 2018.