State-Sponsored Retirement Programs—What Illinois Businesses Need to Know
For decades, businesses have been offering various types of retirement plans to help their employees save for retirement. These retirement plans follow federal laws and allow the business to take advantage of available tax deductions by rewarding their employees....
MAP-21 Brings Funding Relief to Plan Sponsors
The Moving Ahead for Progress in the 21st Century (MAP-21) Act allows sponsors of defined benefit pension plans to decrease required contributions over the next several years. The new law changes the interest rate used for funding to be based upon rates over a 25...
An Update about In-Plan Conversions to Roth
The Joint Committee on Taxation recently clarified provisions relating to the expanded in-plan Roth conversions. As discussed in our March 11 post, the American Taxpayer Relief Act of 2012 expanded in-plan Roth conversions to include all pre-tax accounts, whether or...