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Cash Balance Plans

August 7, 2020

You are likely familiar with 401(k) plans and profit-sharing plans, and may have even established such a plan for your employees. The maximum contribution that can be made for owners and targeted individuals under these kinds of plans is $57,000 in 2020 ($63,500 if the individual is age 50 or over and eligible to make “catch-up” contributions). Read More...

Relief for Retirement Account Owners

August 4, 2020

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. Since then, the U.S. Treasury Department has issued guidance to clarify and, in some cases, expand the provisions of the CARES Act dealing with retirement accounts and the relief offered to retirement account owners and/or beneficiaries. Read More...