Maximize your retirement savings with the Saver’s Tax Credit. Claim up to $1,000 ($2,000 for couples) on your 2023 tax return. Find out if you qualify!
Saver’s Tax Credit
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401(k) Plans
A 401(k) plan helps your employees save for their future by giving them the opportunity to invest a portion of their paycheck into an employer-sponsored retirement account. Employees can select to invest either pre-tax or after-tax dollars into diversified investment lineup within their 401(k) portfolio. Many 401(k) plans offer employer matching, to entice employees to contribute a specific percentage of their paycheck into the plan in exchange for a matching investment from you, their employer. Employer 401(k) benefits include tax deductions and competitive retirement plan packages to attract top talent to your team. Curious about 401(k) plan options, regulatory details, and contribution rules? Head over to the Watkins Ross blog to browse 401(k) articles written by our retirement plan experts who have your goals and interests in mind. Looking for a retirement plan partner who understands the intricacies of your business and can help guide your 401(k) plan goals and compliance efforts? Connect with the Watkins Ross retirement team here.
Long Term Part Time (LTPT) Employees: The Impact to Your Plan Beginning in 2024
Discover the SECURE Act’s impact on plan eligibility and requirements for Long Term Part Time (LTPT) employees. Learn about changes, tracking hours, and employer contributions.
What a Failed ADP/ACP Test Means
Ensure your 401k retirement plan allows your employees to save the maximum amount allowed by understanding and utilizing ADP/ACP testing.
401(k) Plan Nondiscrimination Testing
Avoid penalties and fees by ensuring your retirement plan meets IRS 401k plan nondiscrimination test requirements.
Retirement Plan Compensation Considerations
Avoid retirement plan compensation definition miscalculations by following these simple steps from Watkins Ross’ experienced retirement plan actuaries.
What Are Controlled Groups and Controlled Group Rules?
Learn more about controlled groups, retirement plan rules, brother-sister controlled groups, and attribution rules in Watkins Ross’ latest article.
402(g) Limit on Elective Deferrals – It’s Personal
Code section 402g limits the amount you can defer to a 401k plan. Did you know it applies at an individual level, not a plan level? Read on to learn more.
In-Service Distributions from Defined Benefit Plans
The Bipartisan American Miners Act of 2019 allows in-service distributions for retirement plan participants to commence at age 59 ½. However, in a defined benefit plan, to receive in-service lump sum distributions at age 59 ½, the distribution must satisfy certain thresholds. Read on to learn more about defined benefit plan lump sum distribution requirements.
Understanding Your Retirement Plan’s Force-out Provisions
Are you aware of your plan’s force-out provisions? How force-out’s are handled is a plan document issue and must be followed.
Getting 401(k) Participants Back in the Game in a Post Pandemic World
There is no doubt the coronavirus has impacted decisions many workers made during 2020. Read on to recover your 401(k) post pandemic.