Welcome to the Education Center section of our site.

Tax qualified retirement plans are subject to various federal laws, such as ERISA and the Internal Revenue Code.

The rules governing these plans are very complicated but they provide tremendous opportunities to our clients in the right situations. This section of our website is devoted to providing educational and informational materials to our clients and their advisors to assist them make informed decisions about their plans.

Cash Balance Plan Administration Calendar

We have prepared the calendar below to assist our CPA and financial advisor partners with keeping track of the various events in administering a cash balance plan.

The calendar is not exhaustive but covers the events that matter to the kinds of cash balance plans our firm works on. Call Lee T. Jennings at (630) 802-7644 if you have any questions.

IRS Issues 2017 Dollar Limits for Retirement Plans

The IRS has issued the 2017 dollar limits for retirement plans and you can download our popular worksheet with the updated limits.

Why Don’t Small Employers Offer Retirement Plans?

Under our Red Alert tab on the Home Page we mention that Illinois companies with 25 or more employees must enroll their employees in a state-run retirement program unless those companies already offer a plan to their employees.

This new law goes into effect in 2017. That raises the question of why small companies don’t already offer their employees a retirement plan.

We have prepared the firm memorandum below that explores that question. A retirement plan is one of the most cost-effective employee benefits a company can offer to its employees.

More and more employees surveyed say a top reason they join a company (or stay there) is access to a retirement program.

Many employers use their payroll company to administer their 401(k) plans.

Ary Rosenbaum is an attorney who specializes in legal matters relating to employee and in particular qualified retirement plans, and he thinks this is a very bad idea. We are reprinting his article summarizing the reasons why he thinks you should keep your payroll and your 401(k) plan in separate hands.

Employers that maintain qualified retirement plans that cover 100 or more participants generally need to engage an independent CPA firm each year to conduct an audit of those plans. We have listed below CPA firms we work with who provide these services.

Please feel free to contact them directly for more information.

When Do Retirement Plans Require Certified Audits?

Qualified retirement plans covering fewer than 100 participants are generally exempt from the requirement to engage a CPA to perform an annual audit of the plan’s financial statements. However in situations where more than 5% of the plan’s assets are not invested in “qualifying plan assets,” an audit is required unless certain requirements are met.

The following article and attachment summarizes the rules on when an audit is required even if the plan covers fewer than 100 participants.

The Pension Protection Act of 2006 has created tremendous opportunities using defined benefit and cash balance plans.

This article describes this new opportunity and includes a chart of available contributions based on different age groups.

We offer a variety of articles you can download on important topics relating to qualified retirement plans. Click the article you need and you can print or download the article to your computer.

Would you like to reprint one of our articles on your own letterhead?  Contact us and we will send you the article on MS Word and you can format it for your own letterhead.

Do you need information on a topic not covered below, click our Contact button on the Home page and tell us what you need. We will do our best to get you the information you need.

We issue newsletters throughout the year. We write our own newsletter and focus on information needed by our clients and their advisors. We recommend you periodically flip through back newsletters as a “refresher” on topics you should be keeping up with.

Ask how we can assist you.

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