401(k)

SECURE Act Can Have Big Impact on your Estate Plan & Trusts

Authored by Logan Philipps, Esq. and Anne Zavaglia, CFP® When President Trump signed the SECURE Act at the end of 2019, it could easily have escaped your notice during the holiday season. While time will tell if this law aimed to encourage greater retirement savings achieves its aims, there’s no question it has a direct …

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The SECURE Act Offers New Opportunities for Individuals and Businesses

The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) is major legislation that was passed by Congress as part of a larger spending bill and signed into law by the president in December. Here are a few provisions that may affect you. Unless otherwise noted, the new rules apply to tax or plan …

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The SECURE Act Signed into Law

President Trump signed the Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, into law December 20.  Included in the federal government’s recent spending bill, the Secure Act is designed to help Americans increase and preserve their retirement savings. The provisions in the SECURE Act bring a number of changes, …

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2020 Contribution Limits

The IRS has announced Cost-of-Living adjustments for contribution limits to 401(k)s and other qualified plans for 2020. Contributions to IRAs will remain the same. See the chart below to see how the changes will affect you. Type of Limitation 2020 2019 401(k), 457 and 403(b) maximum annual elective deferral limit $19,500 $19,000 401(k), 403(b), or …

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Balancing 401(k) and HSA Contributions

If you have the opportunity to contribute to both a 401(k) and a health savings account (HSA), you may wonder how best to take advantage of them. Determining how much to contribute to each type of plan will require some careful thought and strategic planning. Understand the tax benefits A traditional, non-Roth 401(k) allows you …

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