TRA MAKES NEWS HAPPEN

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  Recent Study Offers Employee Trends To Consider in Your Plan Design Strategy

  July 25, 2023 - Employees have predominantly remained steadfast amidst market volatility, economic uncertainty, and various other challenges witnessed in recent years. Nonetheless, this study has also identified intriguing trends that have surfaced during this period. Continue
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  CASE OF THE WEEK – Small Employer Startup Credit and Tax-Exempt Entities

  July 21, 2023 - Despite its appearance of unfairness, the special tax credits aimed at assisting small businesses in establishing and financing retirement plans are exclusively accessible to eligible taxable entities that serve as sponsors for qualified plans, 403(a), SEP, or SIMPLE IRA plans. Continue
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  PLAN SPONSORS ASK…

  July 18, 2023 - Essential plan elements that employers should implement to address the gender gap. These include incorporating automatic features with a strong employer match, as well as providing tools and resources to enhance financial well-being. Additionally, targeted educational campaigns aimed at increasing retirement savings knowledge and instilling confidence in the retirement planning process should be taken into account. Continue
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  CASE OF THE WEEK – ESOP Rebalancing

  July 14, 2023 - During a recent conversation with an advisor in Illinois, a common question about employee stock ownership plans (ESOPs) was raised. The advisor inquired, "One of my clients who has an ESOP is curious about a true-up provision in his plan. What exactly does an ESOP true-up provision entail?" Continue
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  CASE OF THE WEEK – Plan Permanency

  July 5, 2023 - Business owners who have already set up or are considering establishing a qualified retirement plan need to understand that the IRS expects this arrangement to be a long-term commitment. While plan sponsors have the option to terminate their qualified retirement plans, the IRS only accepts "business necessity" as a valid reason for abandoning the plan within the initial years of establishment. Continue