TRA MAKES NEWS HAPPEN

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  Plan Sponsors Ask…

  December 26, 2023 - Anticipate the U.S. Department of Labor's initiatives to address forgotten 401(k) accounts through the creation of a national search database. Gain insights into the magnitude of this challenge within the retirement plans industry by exploring relevant statistics. Stay informed about efforts to streamline the process of locating and managing left-behind retirement accounts for enhanced financial well-being. Continue
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  CASE OF THE WEEK – Year End Tax Reminders

  December 23, 2023 - Discover the essential year-end tax deadlines to keep your clients informed and compliant. Stay ahead with timely reminders for a seamless tax season. Continue
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  Closing the Generation Gap

  December 19, 2023 - Discover the latest insights on American workers' retirement expectations from Northwestern Mutual's 2023 Planning & Progress study. The average retirement goal has risen to $1.27 million, yet the reality falls short, with savings only increasing by 3% to $89,300. Uncover key generational differences in retirement readiness, shaping your 2024 employee education strategy around crucial topics such as savings planning, longevity management, health risks, and realistic expectations for Social Security. Continue
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  CASE OF THE WEEK – New Annual Reminder Notice for Unenrolled Participants

  December 15, 2023 - Discover the latest update to your client's retirement plan as the recordkeeper announces the integration of a new notice, the "Unenrolled Participant Annual Reminder Notice," in response to SECURE 2.0. Stay informed about important changes in the plan notice distribution process. Continue
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  SECURE 2.0 Resources For Plan Sponsors and Advisors

  December 12, 2023 - SECURE 2.0 represents a monumental transformation of the regulatory framework governing retirement plans. This legislative update brings forth extensive revisions that redefine crucial elements of retirement planning. Delve deeper into this enlightening regulatory update to uncover concise perspectives on the transformative amendments that illuminate the significant shifts it entails. Continue
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  CASE OF THE WEEK – Special Notice Requirements for 401(k) Discretionary Matching Contributions

  December 8, 2023 - Delve into the specifics of discretionary matching contributions in 401(k) plans with a common inquiry. Explore the special written disclosure rules applicable to certain plans utilizing a discretionary matching contribution formula. Gain clarity on the regulatory landscape as the advisor seeks an explanation of these rules for a comprehensive understanding of compliance requirements. Continue
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  CASE OF THE WEEK – After-Tax Contributions and IRS From W-2

  December 1, 2023 - Non-Roth, after-tax contributions to a 401(k) plan are typically reported on Form W-2 in Box 12 using the code "AA." This information reflects the total amount of after-tax contributions made by the employee during the tax year. It's essential to review the Form W-2 provided by the employer to find this information. Keep in mind that the reporting of after-tax contributions on Form W-2 is a standard practice, but employers may vary in how they handle this reporting. It's always a good idea for your client to check with their employer's HR or payroll department if they have specific questions about how their 401(k) contributions are reported on the W-2. Continue