Each year, the Internal Revenue Service (IRS) raises the contribution limits for 401(k) retirement plans, allowing employees to put aside more for the future. Below you will find an overview of the current 401(k) contribution limits for 2024 and the updated limits for...
At American Trust Retirement, it’s our goal to keep you informed. We are dedicated to adding value to your retirement plan practice by helping to keep you up-to-date on what’s going on in the industry. With 2024 nearing its end, we wanted to share a list of some of...
When it comes to retirement planning, options like 401(k)s and IRAs are popular, but business owners and high-income earners often seek more robust solutions. Cash Balance Plans offer a compelling alternative, blending the benefits of a traditional defined benefit...
In 2012, the Department of Labor issued final regulations for Section 408(b)2, requiring all 401(k) providers to fully disclose direct and indirect fees in a standardized format. This transparency has pressured Plan Sponsors and Advisors to scrutinize 401(k) fees,...
401(k) Day serves as an annual reminder to focus on retirement savings. It’s a chance to review your plan, adjust your strategy, and ensure you’re on track for a secure retirement. Key Actions for 401(k) Day: 1. Check Your Contributions: Ensure your 401(k)...
Statistically around 80% of small business 401(k) plans opt for a safe harbor plan design. This choice helps them automatically meet the ADP/ACP tests and avoid nondiscrimination tests conducted by the IRS. Consequently, business owners and highly compensated...
Historically, employers faced restrictions when considering shifting from a SIMPLE IRA to a 401(k) plan mid-year. But thanks to the SECURE Act 2.0, 2024 brings good news – employers can now terminate a SIMPLE IRA and replace it with a safe harbor 401(k) plan at any...
Whether you're an advisor who's new to the 401(k) space, or you’ve been offering them for years, one thing is certain: knowing the complexities of a retirement plan shouldn’t be your primary focus, providing financial...