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.

2019 COLI Limits

Do you remember what the 2019 regular 401(k) contribution limit is?

What about the compensation limit for HCE status? No need to wonder anymore. Click our popular COLI worksheet below with the 2019 limits and download it to your computer.

New Hardship Withdrawal Rules for 401(k) Plans

Congress has made significant changes to the rules governing hardship withdrawals from 401(k) plans and the IRS issued proposed regulations in November 2018 to implement these changes.

We have prepared a firm memorandum summarizing these changes, as well as actions that need to be taken..

MEPs – Avoiding the Same Mistakes

We reprint below an article by ERISA attorney, Ari Rosenbaum, about ongoing problems with MEPs and now expected Labor Dept regulations may be address the real concerns about these arrangements.

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.

Qualified Plans and the New 20% Pass-Through Deduction

Beginning with 2018, owners of pass-through entities like S corporations and partnerships are entitled to a 20% income tax deduction based on the entities’ pass-through income. Or maybe not.

The new rules are extremely complicated (ask the CPAs) and certain professional service companies lose the deduction entirely. We have prepared the following firm memorandum summarizing how qualified retirement plans can preserve this deduction or even increase it.

IRS Pursuing SE Taxes From LLCs

Chasing SE taxes is nothing new for the IRS.

What has changed now is the IRS has obtained several favorable court decisions and is currently initiating a nationwide program to more aggressively chase these taxes.

We are reprinting below an article from the May 2018 issue of the Journal of Accountancy providing additional information on this matter.

Medicare and Health Savings Accounts

More and more Americans are working beyond their Medicare eligibility age.

We are posting below an interesting article about the interaction of the Medicare rules and the rules relating to employees who are participating in high-deductible health plans (HDHPs).

Employees who participate in an HDHP are also eligible to make contributions to a health savings account (HSA) and participating in Medicare can jeopardize contributions to HSAs.

Professionals advising individuals in this situation need to be aware of what can happen in these situations.

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.

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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