TRA MAKES NEWS HAPPEN

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  CASE OF THE WEEK – Secondment Employment Agreements

  October 13, 2023 - Discover the Complexity of Secondment Employment Agreements: Unraveling Tax and Legal Implications. Ensure Proper Review with Expert Counsel. Explore Compensation, Benefits, and Retirement Provisions. Continue
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  CASE OF THE WEEK – Delaying a Plan Audit

  October 6, 2023 - If your qualified retirement plan has a plan year of less than seven months, you can take advantage of a special provision that determines when you need to include an IQPA report with your Form 5500 filing. Make sure to carefully review the complete Form 5500 filing instructions for the relevant year and consult with a tax professional for personalized advice. Continue
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  PRESS RELEASE – TRA Reunites with Stephen Switzer as the Newest Regional Plan Consultant

  October 2, 2023 - The Retirement Advantage, Inc. (TRA), a leading provider of retirement plan solutions, is pleased to announce the appointment of Stephen Switzer to its Regional Plan Consulting (RPC) team. Switzer will assume the role of RPC, serving clients in Alabama, Florida, Georgia, Louisiana, Mississippi, the Carolinas, and Tennessee. He will report directly to Darin Erdmann, TRA's Director of Sales & Distribution. Continue
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  CASE OF THE WEEK – What is a “414(k) Plan?”

  September 29, 2023 - Discover the 414(k) Account: A Unique Retirement Option - A 414(k) account, a distinct subaccount within a DB plan funded by employer contributions, operates much like a DC plan and requires specific plan language to establish. Continue
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  CASE OF THE WEEK – Did SECURE Acts 1.0 and/or 2.0 Change the Deadline for Setting Up a SIMPLE IRA Plan?

  September 22, 2023 - Attention business owners! If you're keen on setting up SIMPLE IRA plans, it's crucial to know the deadline and the essential steps required for a seamless and successful establishment. Continue
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  PRESS RELEASE – The Retirement Advantage (TRA) Strengthens Distribution Team in the Southwest

  September 20, 2023 - The Retirement Advantage, Inc. (TRA), an independently owned, nationally recognized retirement services company, is thrilled to announce the addition of Jesse McLeod to their team as the newest Regional Plan Consultant (RPC). McLeod will be responsible for overseeing a territory that includes Arizona, Southern California, Hawaii, New Mexico, Nevada, and Utah, reporting directly to Darin Erdmann, TRA's Director of Sales & Distribution. Continue
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  CASE OF THE WEEK – Automatic Enrollment and Governmental 457(b) Plans

  September 15, 2023 - The inclusion of an automatic enrollment feature in a governmental 457(b) plan is contingent upon state law. To gain a clear understanding of the regulations in a specific state, it is advisable to consult with a knowledgeable professional who has a deep understanding of that state's statutes. Continue
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  CASE OF THE WEEK – Can My Client Still Set Up a 401(k) Plan for 2022?

  September 8, 2023 - The SECURE Acts 1.0 and 2.0 have introduced beneficial modifications to the rules governing plan creation and financing. One noteworthy change is the option to retroactively make first-year elective deferrals for specific unincorporated business owners, effective starting from the 2023 plan year. However, it's essential for potential investors to exercise caution and thoroughly explore the intricacies of these changes by engaging in discussions with their tax and legal advisors before committing to a plan. Continue
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  CASE OF THE WEEK – Chapter 7 vs. Chapter 11 Bankruptcy and Considerations for Retirement Plans

  September 1, 2023 - When a business files for bankruptcy, there will be unique considerations with respect to the business’s retirement plan depending on the type of filing (Chapter 7 or 11). Participants assets are always protected from a bankrupt employer’s creditors, but whether the plan continues depends on the situation. Continue
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  CASE OF THE WEEK – Proxy Voting on Securities Held in Qualified Plans

  August 25, 2023 - To understand who is responsible for voting proxies for securities held in a qualified retirement plan, refer to the governing plan documents. The plan document should clearly outline the authority for proxy voting and ensure that the process and procedures comply with DOL regulations that prioritize prudence and loyalty. Continue