posts by Clint - 2/4 - Beacon Hill Investment Advisory, LLC

Cash Balance Plans

Cash Balance Plans- Squeeze 20 years of retirement savings into 10! If you’re like many Doctors, Engineers, Lawyers, or “ologists” (i.e. Radiologists, Cardiologists, etc.) that own your own practice, you’ve put off saving for your own retirement due to paying off huge student loans, paying for your kids’ educations, etc. With taxes taking half of …

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DOL Attempts to change who must act as a Fiduciary

Executive Summary The Department of Labor has proposed an amendment to redefine and expand who must act as fiduciaries in the retirement plan space and those who give advice for Individual Retirement Accounts. A fiduciary has a legal obligation to act in the best interest of their client. Specifically, they must act with the “care, …

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Market Commentary

Global markets were generally down in August. While we tend to shy away from creating the narrative of “why” markets do what they do, it’s pretty clear that market participants are worrying about the Federal Reserve’s interest rate increase (September or December) and how the global players will deal with China’s slowing economy. For August, …

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Tax Form Status Update

Here are some forms you should expect to see related to your investment accounts: Form 1099-R (reporting IRA distributions), 5498 (reporting contributions, rollovers and conversion rollovers made prior to 1/01/2013, fair market value, and Required Minimum Distribution (RMD)), and Form 1099-Q (reporting Coverdell ESA distributions) are mailed by Jan. 31. Composite 1099s are mailed by Feb. 15. …

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401(k) Corner: LAST DISCLOSURE FOR 404(a)!

At this point you’ve already conducted and disseminated your participant disclosures for your 401(k)/403(b) Plan that were required under ERISA section 404(a) (general information and a comparative chart of any Designated Investment Alternatives).  This quarter, “participants must receive statement… showing the dollar amount of the plan-related fees and expenses (whether “administrative” or “individual”) actually charged …

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