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Returning Value Blog

Planning Ahead for 2024: Should Your 401(k) Help Employees With Emergencies?

Posted by Marty Williams, CPA on Sep 05, 2023

The SECURE 2.0 law, enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law calls “pension-linked emergency savings accounts.”

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Plan Sponsor Alert: Roth 401(k) Remains Underutilized Despite Potential Benefits

Posted by Michael D. Machen, CPA, CVA on Dec 01, 2022

While plan sponsors have been able to amend their 401(k) plans to include a post-tax deferral contribution called Roth for more than a decade, only 86 percent of plan sponsors have made it available to participants, according to the Plan Sponsor Council of America. Meanwhile, despite the potential benefits of such plans, just a quarter of participants who have access to the Roth 401(k) option use it. Plan sponsors may want to consider adding a Roth 401(k) option to their lineup because of the potential tax benefits and other advantages for plan participants.

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Inflation Means You and Your Employees Can Save More for Retirement in 2023

Posted by Michael D. Machen, CPA, CVA on Nov 04, 2022

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increased more than they have in recent years due to inflation.

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Self-Employed? Build a Nest Egg With a Solo 401(K) Plan

Posted by Michael D. Machen, CPA, CVA on Sep 09, 2022

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have a healthy self-employment income and want to contribute substantial amounts to a retirement nest egg.

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Top Retirement Locations Aren't All In the Sunbelt

Posted by Don G. Chastain, CPA on Aug 10, 2017

Looking to retire? You may be surprised where some of the top retirement locations are.

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Q&A About Early Retirement: Is It a Pipe Dream or Possible Reality?

Posted by Michael D. Machen, CPA, CVA on Oct 21, 2015

After fighting the rat race for years, many Americans dream of an early retirement. For instance, you might be contemplating such a move on your own, or perhaps your company is preparing to make you an early retirement offer. Whether or not you can afford to retire early, or really want to, may depend on the answers to the following questions.

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Weighing In on Hardship Distributions

Posted by Don G. Chastain, CPA on Aug 17, 2015

If you have been able to build up a sizable fund in a 401(k) or other qualified retirement plan, you have a good head start on a nest egg for retirement. Sometimes, however, extenuating circumstances may force you to tap into your account prematurely. Specifically, you might apply for a “hardship distribution” when the plan permits it. Although you may decide this is your best option, consider all the implications.

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3 Basic Methods of Social Security Benefits

Posted by Don G. Chastain, CPA on Jul 07, 2015

If you are approaching retirement, one of the key decisions you will face is when to begin receiving Social Security benefits. It is not an easy call, and the answer usually depends on your personal circumstances. Keeping that in mind, here is a brief summary of the rules provided by the Social Security Administration (SSA).
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When to Start Saving for Retirement

Posted by Don G. Chastain, CPA on Mar 09, 2015

There is no time like the present

If you are established in a job or operate your own business, when should you start saving for retirement? Although there are numerous aspects to consider and complications in certain situations, the short answer is relatively simple: immediately!

If you have recently entered the workforce, the sooner you begin a program of retirement saving, the better. If you are already in the midst of your career, you should not delay any longer. And if you are nearing the traditional time for calling it quits, better late than never. 

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