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May 8th, 2018

The Tax Cuts and Jobs Act and NQDC

The Tax Cuts and Jobs Act of 2017 included changes to the treatment of executive compensation and nonqualified deferred compensation (NQDC) plans—including 457(f) plans—that some said will take away the incentive for employers to sponsor these plans. However, speakers at the Plan Sponsor Council of America (PSCA) 71st Annual National Conference suggested executive compensation plans are still a useful benefit. “Nonqualified deferred compensation plans will always be tax advantageous and a useful benefit,” Bruce J. McNeil, partner with The Wagner Law Group, told conference attendees.Read more >

ICI Data Highlights TDF Price Drops, Other Mutual Fund Savings

The latest analysis published by the Investment Company Institute (ICI) highlights a trend of falling expense ratios for long-term mutual funds that has now continued for more than 20 years. Expense ratios of target-date mutual funds averaged 0.44% in 2017; since 2008, ICI explains, the expense ratios of target-date mutual funds have fallen 34%.Read more >
Can a Church Have Two 403(b)s With Two Different Vendors?
“A church has a 403(b) plan that covers two pastors—one of which who wishes to continue his contributions to the current plan, and another who wants to start a new 403(b) with a separate 403(b) plan provider. Can the church have two separate plans with two separate vendors?”Read more >

Income Taxes Follow Participants Into Retirement

As more American workers are expecting to rely on defined contribution (DC) plans and individual retirement accounts (IRAs) to fund their retirement years, concerns are growing about how to best manage lifetime income streams. As part of this effort, according to Daniel D’Ordine, founder of DDO Advisory Services, late- and even mid-career retirement savers should start doing a lot more advanced planning about minimizing income taxes in retirement. Depending on where they live and how they structure their retirement income, retirement savers may find themselves paying unexpectedly high amounts of taxes each year to both the federal and state governments, D’Ordine warns.Read more >

Key Employee Benefit Plan Internal Controls to Have in Place

“Internal controls should be part of a plan sponsor’s day-to-day operations,” says a partner at CPAs & Advisors, speaking at the Plan Sponsor Council of America National Conference. He focused on internal controls for eligibility, compensation, and contributions and loans.Read more >

Specific Actions Lead to Higher Retirement Income

Empower identified “habits of success” that correlate with higher projected retirement income—saving in a workplace retirement plan, saving at a higher level and having a formal plan for retirement.Read more >

New Platform Offers Biblically Responsible Investment Options

Beacon Wealth Consultants has introduced the LightPoint Kingdom(k) retirement plan, a retirement platform that provides outsourced administration, fiduciary protection from liabilities, custom plan design and actively managed Biblically responsible investment (BRI) options.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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