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The 2023 Retirement Plan Contribution Limits

DWC 10/21/22
Extra! Extra! The IRS has released the 2023 contribution limits. In past years we would list only the limits that changed. With almost everything changing at historic levels, we have provided a few highlights and a look to our historical limitations chart.
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DWC in Investment News: Bitcoin Too Risky for 401(k)s Part II?

DWC 05/16/22
"Before Fidelity made its move, the Department of Labor had sent a warning about using crypto in retirement accounts. In March, the agency issued a compliance assistance release cautioning retirement plan fiduciaries to “exercise extreme care” when considering crypto currency investments." writes Mark Schoeff Jr. in Investment News.
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DWC Selected as TPA for Franklin Templeton Retirement Group Plan Solution with Transamerica

DWC 12/2/21
Transamerica has been selected by Franklin Templeton as the recordkeeper for a new retirement plan solution. The Franklin Templeton Group Plan Solution is offered exclusively through Franklin Templeton and was created for employers seeking to benefit from group pricing and access to services not always available, particularly to smaller companies.
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Step Aside 3(16) – the 402(a) Fiduciary Is The New Flavor of the Week

DWC 08/24/21
In the color-by-numbers world of retirement plan fiduciaries, the 3(21) was the first one on the block, followed quickly by the 3(38). Then came the 3(16), widely sold as the silver bullet that would protect plan sponsors from the liabilities lurking around every corner. Now, the 402(a) fiduciary is ready to kick all of them to the curb…if you ...
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The Mega Backdoor Roth…Here We Go Again

DWC 07/29/21
Every year, the financial press seems to write about the so-called Backdoor Roth and Mega Backdoor Roth strategies in 401(k) plans, and this year is no exception. (Maybe the Super Duper Mega Backdoor Roth will be next year.) The difference is that the articles usually start to appear closer to the Fall, but they are trending earlier this time ...
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When Is the Best Time to Set Up a Safe Harbor 401(K) Plan?

DWC 06/17/21
Facts We have been thinking about setting a safe harbor 401(k) plan and have heard that there are some pretty stringent timing requirements depending on some of the provisions we select.
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The 2021 Retirement Plan Contribution Limits

DWC 10/26/20
Extra! Extra! The IRS has released the 2021 contribution limits. Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.
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Is There an "Easy Button" for Setting Up a New Retirement Plan?

DWC 09/1/20
Facts As a small business owner, I’m constantly looking for cost-effective ways to improve the benefits I offer my employees. My industry is a competitive one, and it’s important to me to have a package that helps attract top talent and retain current employees too. Recently, my attention has turned toward implementing a retirement plan, but it ...
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Which Common Plan Fees Can (and Should) We Pay from Plan Assets?

DWC 08/18/20
Facts We are reviewing our company expense budget to identify any that we can eliminate or reduce. We’ve read that it is possible to pay expenses related to maintaining company retirement plans out of plan assets. We sponsor both a 401(k) plan and cash balance plan for our employees, so shifting some of those fees from the company to the plan ...
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What Are My Options (and Deadlines) for Implementing a Retirement Plan This Year?

DWC 08/11/20
Facts We’ve been debating implementing a 401(k) plan for 2020. After much back and forth, we’ve decided its “a go!” for this year. Since we are still in a more relaxed summer vacation mode, we’d like to wait until sometime this fall to really get rolling on implementation.
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.