• Senate Finance Committee Releases the EARN Act
    June 28, 2022 - Anticipated over the next number of months is a process of thorough review, potential further adjustments and additions as a result of markups and discussion, and an expected eventual merging of the EARN Act from the Senate Finance Committee and SECURE 2.0 legislation from the House, to come to a final passage. Continue
  • The Road to New SECURE Act Retirement Legislation
    June 21, 2022 - The waiting game continues on new legislation, but the optimism has grown increasingly evident, with the House having passed its version of the legislation by a wide margin. According to Epstein, a number of the provisions in the legislative package involve significant bipartisan appeal. However, a closely-divided Congress will have to navigate speed bumps involving certain aspects of the legislation not being budget neutral and potentially having to involve new tax revenues. Continue
  • CASE OF THE WEEK – Top Heavy Safe Harbor Plans
    June 17, 2022 - Not all 401(k) safe harbor plans are exempt from top-heavy testing. The IRS has identified three scenarios in which safe harbor plans would be required to apply the test and, if found to fail, meet minimum contributions and vesting requirements. Continue
  • PRESS RELEASE – TRA Hires Robert Dolin as New Regional Sales Consultant
    June 14, 2022 - Flynn has nearly 20 years of expertise in the retirement services industry and has held several sales and leadership roles with some of the industry’s biggest and most well-known companies, including: Ameritas, John Hancock Retirement Plan Services, and Watson Wyatt Worldwide. Continue
  • CASE OF THE WEEK – Qualified Recognized Overseas Pension Scheme
    June 10, 2022 - Owners of QROPS may not roll the assets to a US-based IRA or qualified retirement plan. Because there are extreme variations in the tax treatment of QROPS depending on the QROPS jurisdiction and the owner’s country of residency, taxpayers with QROPS should seek out tax advisors who specialize in this space. Continue
  • CASE OF THE WEEK – Railroad Retirement Benefits
    June 3, 2022 - Railroad employees may be eligible for unique benefits paid through the federal Railroad Retirement Board. Railroad companies could also sponsor private qualified retirement plans for their employees. Continue

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