Proposed Regulations Govern Making Participant Elections and Spousal Consents Electronically

by Jess Knudsen | Jun 13, 2023 | News

The coronavirus pandemic resulted in restrictions on where and how people could meet. These limitations—including remote work requirements—made it harder for some participants to take distributions from employer-sponsored retirement plans. In response, the IRS issued...

What is a Form 1099-R and Why Did I Get One?

by Jess Knudsen | Jun 12, 2023 | General Retirement, My Account

An old, well-known adage says that only two things in life are guaranteed: death and taxes. While we may not have much control over the first of life’s guarantees, we can aim to fully understand and be prepared for the second, right? Unfortunately, tax time often...

Changing a SEP IRA to a 401(k) Plan

by Jess Knudsen | Jun 8, 2023 | 401(k), SEP/SIMPLE

Changing a SEP IRA to a 401(k) plan: What small business owners need to know Small business owners who decide to set up a retirement plan to benefit themselves and their employees may consider a Simplified Employee Pension (SEP) IRA. Not only is it a low-cost option...

Hidden Benefits of a 401(k)

by Jess Knudsen | Jun 4, 2023 | 401(k)

Introduction: What small business owners need to know about 401(k)s Planning for a comfortable retirement is a major concern among American workers— particularly among older employees, with less time left in the workforce. In fact, 64% of employees are worried about...

Roth Conversions: Should You Do It?

by Jess Knudsen | Jun 3, 2023 | Roth IRA

What is a Roth conversion? A conversion is a taxable, reportable movement of assets from either a Traditional IRA (including Traditional IRAs that hold SEP contributions) or a SIMPLE IRA (after a two-year period) to a Roth IRA. When converting assets to a Roth IRA,...