by David Gensler | Nov 7, 2023 | article
Miriam ran a successful business and she had a retirement plan. Her husband James made about $125K/year selling collectibles on eBay. They didn’t really need James’s “hobby income” so they wanted to shelter as much of it as they could. Gina, his accountant put him in...
by David Gensler | Oct 24, 2023 | article
In general, if the number of participants at the beginning of the year is at least 100, any qualified retirement plan covered under ERISA is required to have an annual audit done along with the annual Form 5500 filing. That limit is increased to 120 participants...
by David Gensler | Oct 10, 2023 | article
Payroll providers promise that if you use their 401k program, they will submit the contributions each payroll period and they’ll send enrollment packets to eligible new employees. Also, they will approve any loans and distributions. You don’t have to do anything! What...
by David Gensler | May 30, 2023 | article
“David, it’s Beth. I just brought a few of our consultants on as full-time hires. They’re in their 50s—a bit older than our typical new employees—and since they’ll only have so many years to contribute into our retirement plan, I was wondering if…” “What you’re asking...
by David Gensler | May 23, 2023 | 401(k) plans, article
Kareem called me from the HR department of a client company. “Hi David. What happens when a new employee doesn’t formally opt in or out of the retirement plan? I’m not sure what to do with them.” “Great question, Kareem, and a timely one. Starting this year, if you...
