Archive for November, 2014

Saver’s Credit Benefits

Screen Shot 2014-11-24 at 1.13.39 PMThe IRS posted a nice article, “Plan Now to Get Full Benefit of Saver’s Credit; Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement”, about the saver’s credit of up to $1,000 (or $2,000 if married) this month at http://www.irs.gov/uac/Newsroom/Plan-Now-to-Get-Full-Benefit-of-Saver’s-Credit-Tax-Credit-Helps-Low-and-Moderate-Income-Workers-Save-for-Retirement. The article provides a nice reminder that some plan participants may be eligible for this credit, and the article provides a brief recap of the restrictions. The release date reflects great timing on the IRS’s part. This is the time to take advantage of this great opportunity for participant 401(k) contributions before the final 2014 payroll.

Thanks for reading and have a wonderful day! Please sign up for my blog and follow me on twitter @ChristineGurney. Please follow me on Pinterest at http://www.pinterest.com/chrisgurneyerpa/. Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung. If you have not already done so, please check out purchasing my book on amazon at amazon.com and directly from the publisher at https://www.createspace.com/3964647.

November 25, 2014 at 12:24 pm Leave a comment

Financial Statements for Plans


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In October, Benefits Magazine ran an article, “Financial Statements-Gaining a Deeper Understanding”. The story explains different parts of employee plan financial statements. The author includes a reminder that those in charge of the plan are responsible in the end for those statements and their accuracy (Reinhardt, Joseph A. (2014). Financial Statements- Gaining a Deeper Understanding. Benefits Magazine, 51 (10), 47.). His point underscores the importance of plan sponsors reviewing the statements and making sure they understand them. Plan sponsors need to ensure those preparing their statements have all the information they need, and that they are qualified and doing an appropriate job just like any other service provider.

Thanks for reading and have a wonderful day! Please sign up for my blog and follow me on twitter @ChristineGurney. Please follow me on Pinterest at http://www.pinterest.com/chrisgurneyerpa/. Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung. If you have not already done so, please check out purchasing my book on amazon at amazon.com and directly from the publisher at https://www.createspace.com/3964647.

November 19, 2014 at 12:24 pm Leave a comment

Sheltering Inherited IRAs

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Last month, Benefits Magazine ran an article, “Supreme Court Holds Inherited IRAs Are Not Exempt From the Bankruptcy Estate”. The story discusses a case, Clark et ux. v. Rameker, Trustee, et al., that appeared before the U.S. Supreme Court. The Court commented on the distinction between inherited and other IRAs, such as Roth and Traditional, in bankruptcy proceedings. The Court concluded that the funds are not considered to be for retirement and that account holders may not seek to shelter the funds in bankruptcy (Benefits Magazine (2014). Supreme Court Holds Inherited IRAs Are Not Exempt From the Bankruptcy Estate. Benefits Magazine, 51 (10), 59.).

Thanks for reading and have a wonderful day! Please sign up for my blog and follow me on twitter @ChristineGurney. Please follow me on Pinterest at http://www.pinterest.com/chrisgurneyerpa/. Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung. If you have not already done so, please check out purchasing my book on amazon at amazon.com and directly from the publisher at https://www.createspace.com/3964647.

November 10, 2014 at 12:24 pm Leave a comment

Vote Today! – Voter Lookup

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November 4, 2014 at 9:11 am Leave a comment

Statute of Limitations for 401(k) Fee Lawsuits

Presentation1Bloomberg ran an article, “401(k) Fees at Issue as Court Takes Edison Worker Appeal, by Greg Stohr located at http://www.bloomberg.com/news/2014-10-02/401-k-fees-at-issue-as-court-takes-edison-worker-appeal.html#disqus_thread. The story discusses a case, Tibble v. Edison International, to appear before the Supreme Court. What makes the case significant is the attempt to recoup losses due to excessive fees when the plan’s investments were brought into the plan more than six years ago. The outcome may result in additional participant lawsuits and underscores the importance of reasonable fees.

Thanks for reading and have a wonderful day! Please sign up for my blog and follow me on twitter @ChristineGurney. Please follow me on Pinterest at http://www.pinterest.com/chrisgurneyerpa/. Please like my Facebook author page at http://www.facebook.com/ChristineGurneyHsiung. If you have not already done so, please check out purchasing my book on amazon at amazon.com and directly from the publisher at https://www.createspace.com/3964647.

November 3, 2014 at 12:24 pm Leave a comment


Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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