Topic Archive: SIMPLE

When More (Plans) Isn't Merrier: We've Got a Fix for That!

DWC | 11/21/19

Stop us if you’ve heard this one before – a SEP, a SIMPLE, and a 401(k) walk into a bar…unfortunately, there’s not a great punch line at the end of this one.  Instead of some good laughs, this situation is a recipe for some issues in need of attention.  While it might be unusual for a single company to establish one of each, it is not nearly as far-fetched to discover that related companies may have setup separate types of plans for their respective employees, one with a SEP or SIMPLE and another with a 401(k) plan.  This isn’t necessarily a problem with respect to the 401(k) plan, but the SEP and SIMPLE rules restrict how those types of plans can co-exist with others.

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The 2020 Retirement Plan Contribution Limits

DWC | 11/6/19

The IRS has released the 2020 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.

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What Do You Do with the SIMPLE IRA Sponsored by the Company You Just Acquired?

DWC | 11/5/19

Facts

My company recently acquired another firm.  As we work to combine all of our operations, we’ve discovered a few differences in our employee benefits, specifically our retirement plans.  While we’ve sponsored a 401(k) plan for several years, the company we bought has a SIMPLE IRA.  I’ve done a little research and found that when a company offers a SIMPLE, it cannot also sponsor any other types of plans.

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What Do We Need to Consider When Switching from a SIMPLE IRA to a 401(k)?

DWC | 07/9/19

Facts

We’ve sponsored a SIMPLE IRA for our employees for years and while it’s served its purpose, we are beginning to feel the limitations inherent in the plan.  As we begin to grow, we’d love to be able to add provisions for eligibility and to be able to reward our key performers.  I’m hesitant about making a change from this “known” commodity to a 401(k) plan but feel like we’ve outgrown our current plan.

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The 2019 Retirement Plan Contribution Limits

DWC | 11/1/18

The IRS has released the 2019 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.

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Q3 Pension Pontifications

DWC | 09/13/18

All of us here at DWC thrive on the really geeky stuff, and some of the best discussions start with Adam and Keith’s pontifications about how different topics impact our clients and our industry.  We decided to bring the best of those conversations to you, still with a touch of geekiness but also distilled into easily digested, bite-sized pieces. Anyone can summarize a summary and call it commentary or analysis. But as always, our commentary is based on reading the actual rules, regulations, executive orders, and advisory opinions.  - As originally published in our Q3 401(k) Q&A Update newsletter

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The 2018 Retirement Plan Contribution Limits Are Here

DWC | 10/19/17

The IRS has released the 2018 contribution limits! Since not everyone was awaiting them quite as eagerly as we were, here is a quick summary.

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Can I Add a Personal SEP IRA to My Company's 401(k) Plan?

DWC | 07/24/17

Facts

Our firm sponsors a 401(k) plan that includes a 3% of pay safe harbor contribution. The plan also includes a profit sharing provision, but the only company contribution we usually make is the safe harbor.

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