Topic: "Retirement Plans"

New Limits for 2022

November 2021

For the year 2022, the IRS has announced their updates of the various limits that govern 401(k) plans. Here are the plan limits for the coming year. 401(k) Deferral Contributions – Increased to $20,500 401(k) Catch-Up Contributions – Remains the... Read more

Newly Eligible Participant Reminder

November 2021

Participants, Retirement Plans

January 1st is a participant entry date for many plans. Noble-Davis Consulting strives to keep you updated on employees that have met the requirements to enter your plan. When possible, we will send you a list of employees that may... Read more

It’s Time for RMDs

November 2021

Distributions, Participants, Retirement Plans

The law requires that participants who have attained a certain age and are no longer working begin taking distributions from their retirement accounts. These distributions are called Required Minimum Distributions (RMDs) and they are calculated based on the life expectancy... Read more

Do You Have a Beneficiary Designation for Your Plan?

October 2021

Beneficiaries, Retirement Plans

Unfortunately, accidents can happen. Since benefits in a retirement plan do not need to go through probate if the participant has designated a beneficiary for the plan, we highly recommend that all participants who have a benefit in a retirement... Read more

Rewarding Your Employees with a Profit Sharing Plan

August 2021

Retirement Plans

What can you do to keep your workforce satisfied? Experts admit that keeping personnel content can be difficult even in the best of economic times. Convincing them that they have a direct impact on the business, and making sure that... Read more

IRS Compliance Initiatives

August 2021

Retirement Plans

The IRS has recently updated its Compliance Program and Priorities for retirement plans. They have identified several areas that will be focused on in 2021 by their agents. These include: General Compliance – There will be a focus on determining... Read more

Birthday Milestones That Can Affect Your Finances

May 2021

Finance, General, Plan Design, Retirement, Retirement Plans

Getting older and birthdays do not seem to attract quite as much excitement for us as when we were young. But just as the bicycle marking your 10th birthday was a milestone event, so some of our later-in-life birthdays can... Read more

IRAs and Savings

April 2021

Investment, IRAs, Retirement Plans, Tax Refund, Taxes

With tax refunds and stimulus checks arriving, many of us have a small windfall of cash available and are thinking of saving it for the future. And adding it to your retirement pot is not a bad idea if you... Read more

Importance of Year End Census Information

February 2021

Retirement Plans

We never want to bother you, but it is important for us to gather precise information about your employee census data and company structure. Retirement plans are required to pass complex annual compliance testing to make sure that the plan... Read more

The Best Ways to Spend Your Tax Refund

February 2021

Coronavirus, General, Payroll, Retirement Plans, Tax Refund, Taxes

Tax season is well and truly underway in America. While it is no fun preparing a return for the IRS, many of us rather enjoy getting a check back from Uncle Sam. And with the average refund being nearly $3,000,... Read more