posts by Mark - 30/84 - Beacon Hill Investment Advisory, LLC

Safe Harbor 401k Plans: Answers to Common Questions

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Safe Harbor 401k plans are the most popular type of 401k used by small businesses today. They automatically pass annual ADP/ACP and top heavy tests and allow business owners to maximize contributions to the plan. To achieve safe harbor status, owners are required to make a contribution on behalf of participating employees. For many employers, …

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Q&As on Roth 401(k)s

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The Roth 401(k) is 10 years old! With 62% of employers now offering this option, it’s more likely than not that you can make Roth contributions to your 401(k) plan.1 Are you taking advantage of this opportunity? What is a Roth 401(k) plan? A Roth 401(k) plan is simply a traditional 401(k) plan that permits …

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How High Will Your State’s Minimum Wage Be on January 1, 2017?

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By the start of next year, 29 states and Washington, D.C., will have minimum wages higher than the federal level. Wage inequality remains one of the hottest issues of the 2016 presidential campaign. Hillary Clinton, the presumptive Democratic Party nominee, supports a federal minimum wage of $12 an hour; she has also shown support for …

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Litigation Involving 401(k) Plans

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Litigation against 401(k) plans have been increasing since last year.  Typically lawsuits have been aimed at large plans, but now a much smaller 401(k) plan is being scrutinized.  A recent lawsuit against Damberg et al. v. LaMettry’s Collison Inc. et al. is focused on excessive fees being charged to participants.  This lawsuit may set a …

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Succession Planning Simplified

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Simple, turn-key succession plan that gets you value and stops the procrastination If you qualify, Beacon Hill will provide a succession plan that will satisfy regulators, protect your clients, and will provide you or your heirs with a fair value for your life’s work. Simple- We take care of all the documentation. This will be …

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