The 2024 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
2024 Plan Limits Released
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Profit Sharing Plans
Seeking a creative way to attract and retain employees while offering them an opportunity to earn rewards? A profit sharing plan may be the perfect motivational strategy for your business. Whether you’re a large corporation or a small family-owned business, profit sharing plans are strategic tools used to encourage your employees to care about and improve your business’s year-end financials. Profit sharing plans function by giving employers the opportunity to assess year-end revenue reports to determine how much they can contribute to their employees’ retirement plans. The better your business’ finances at the end of the year, the more likely you can make significant contributions to your employees’ retirements through your profit sharing plan. Learn more about profit sharing plan specifics by touring our profit sharing plan articles on the Watkins Ross blog. Hoping to add a profit sharing plan to your employee retirement benefits and retention program? Contact the Watkins Ross retirement plan team to get a customized, professional look into your retirement plan options.
Required Minimum Distributions (RMDs)
Understand RMDs: Mandatory withdrawals from retirement accounts explained. Learn deadlines, calculations, exemptions.
2020 Plan Limits Released
The 2020 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
2019 IRS Operational Compliance List
The 2019 IRS Operational Compliance List has been posted! This guide helps plan sponsors understand the compliance changes effective in the upcoming year.
Initial Required Minimum Distributions (Defined Contribution Plans)
Are you meeting the initial required minimum distributions of your contribution plan? Learn more about what conditions need to be met with Watkins Ross!
Who Retains The Beneficiary Forms?
A beneficiary form determine who is entitled to the defined contribution retirement plan benefits upon the death of a participant. Is your form current?
Defined Contribution Compliance Calendar
A qualified retirement plan must meet various requirements throughout the year, check out our defined contribution compliance calendar today!
Safe Harbor Plan Amendments
Do you or your clients have a 401(k) plan that could benefit from amending to include a safe harbor provision?
Safe Harbor Hardship Withdrawal Guidelines
The IRS requires Plan Sponsors to adhere to specific safe harbor hardship withdrawal guidelines for the distribution to take place.
How to Submit a Federal Withholding Tax Deposit
Although you cannot mail a check for a federal withholding tax deposit, there are a few options to submit these payments to the IRS electronically.