When the new Social Security benefit amounts and qualified retirement plan limits are announced in early fall each year, usually not all of them will rise in any given year because of how the limits are rounded down to the next lower multiple. Due to...
October
28
2022
Qualified Plan and Social Security Limits to Rise by Record Amounts in 2023
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), defined contribution, defined benefit, irs, pbgc, social security, retirement plan, qualified plan
with No Comments
May
26
2022
Which Plan Design is Right for You?
Posted by Joné E. Liuzza, ERPA, QPA, QKA
in 401(k), Retirement, cross-tested, retirement plan, qualified plan
with No Comments
Many years ago, along with the birth of ERISA (Employee Retirement Income Security Act), a famous “rock” group posed a great question with the song lyrics “What’s The World Coming To?” With all that’s happening today, the question may now be apropos ...
November
05
2021
Big Jump for Qualified Plan Limits and Social Security in 2022
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), defined contribution, defined benefit, irs, pbgc, social security, retirement plan, qualified plan
with No Comments
As a result of higher increases to the Consumer Price Index in 2021 than have been seen in recent years, Social Security benefits and qualified retirement plan limits will rise significantly in 2022, according to recent announcements from the IRS and...
December
23
2020
Mega Backdoor Roth IRA: A Neat Idea that Rarely Works
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), retirement plan, qualified plan, roth ira, mega backdoor roth ira
with No Comments
Lately, several people have asked me about a “mega backdoor Roth IRA.” I didn’t really know what this was, but anything with “backdoor” in the name is something I want to explore. It sounds a little devious. Maybe I could finally be a bad boy – more ...
November
20
2020
“You keep using that word. I do not think it means what you think it means.” So goes the internet meme based on Inigo Montoya’s complaint to Vizzini about his use of the word "inconceivable" in The Princess Bride movie. In the pension business, ther...
October
29
2020
Out with 2020, In with the 2021 Retirement Plan Rates and Limits
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), defined contribution, defined benefit, irs, pbgc, social security, retirement plan, qualified plan
with No Comments
As we head toward the close of this turbulent year, we have learned that most IRS limits related to qualified retirement plans will hold steady in 2021. Retirees receiving Social Security benefits will receive another modest increase, while PBGC prem...