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You Purchased Another Business! What About Their 401K?

“David, this is Juan. I’m a business owner and I just bought out one of my competitors. You’ve been managing their retirement plan and they had good things to say about you so I’m calling to ask for your help. We already have a 401K for our business so do I just...

Can You Exclude Certain Compensation from Matching Contributions?

Here’s a question I hear all the time: Can you exclude bonuses from the definition of compensation for purposes of the employer matching contribution? Why would you exclude certain compensation from a company contribution like a match? With respect to bonuses, well...

Late with One Lousy Contribution. No Big Deal, Right?

One of my clients, Barry, called the other day with a common question: “I was late submitting our weekly payroll contributions. Is that a big deal? I calculated the loss of earnings—about ten dollars, filed Form 5330, and paid $1.50 in excise tax. But that all seemed...

Did You Know? Earn Tax Credits for Starting a Retirement Plan

Stories from the vault: “David, I’m Brenda. I’m starting a small law firm–ten lawyers and the usual clerks and secretaries. My accountant told me you’re the man to speak with when it comes to setting up our retirement benefits.” “I’m glad you called, and here’s how...

Turning a Fail to a Pass

All our execs got big refunds of the contributions they made into the 401K retirement plan last year and they’re not happy about it; they wanted those contributions matched and invested.

The Top-Paid Group Rule: Put an End to High-Comp Employee Refunds

Jeanne, the HR director for a law firm complained that the company was having a tough time passing their non-discrimination testing. Each year, they offered the same embarrassing excuse to their employees: “We failed our non-discrimination test again this year and we...

Set it and Forget it? Forget it!

Set it and Forget it? Forget it! One of our clients, Terry, told us about a conversation she’d had at a SHRM chapter meeting. “Our Retirement Plan is driving me crazy,” Ryan complained. “So many deadlines and forms to file—and now the executives are complaining that...

Madison Pension Services is now known as Concierge Retirement Services.

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