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Retirement Plan required for CA Employers
Retirement Plan required for CA Employers Any employer with at least five employees that doesn’t already offer a workplace retirement savings vehicle will be required to either begin offering one via the private market or provide their employees access to CalSavers. Size of business Deadline 100< employees June 30, 2020 50< employees June 30, 2021 […]
DOL SIMPLE IRA Plans for small business publication
DOL (Department of Labor) SIMPLE IRA Plans for small business publication: Most of the information is the same as the IRS, however we noticed this more stringent salary deferral deposit requirement: For plans with fewer than 100 participants employers can deposit salary eduction contributions with the plan no later than the 7th business day after […]
2019 Retirement Plan Limitations
2019 Retirement Plan Limitation highlights: The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,500 to $19,000. The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan […]
SIMPLE IRA Plan
A SIMPLE IRA plan (Savings Incentive Match PLan for Employees) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan. Choose a SIMPLE IRA Plan Learn the basics of a SIMPLE IRA plan […]