Resource Center - Page 3 of 12 - Noble Davis Consulting, Inc.

Have You Maximized Your Contribution?

December 2020

As the end of year approaches, make sure you’re doing all you can to maximize your 401(k) account value. Boosting your 401(k) contributions could significantly decrease your 2020 tax bill. A 50-year-old participant in the 24% tax bracket who maxes... Read more

Participant Education Center

December 2020

Participant Website, Retirement Plans

Recently, Noble-Davis Consulting added a new section to our website called the Participant Education Center. This new section can be found under the Resource Center tab located at the top of any page on our website. The Participant Education Center... Read more

How to Calculate Your Retirement Needs in an Ever-Changing World

December 2020

Plan Design, Retirement Plans

RETIREMENT – a golden dream far down the line for many of us. But will you ever actually be able to retire? Sadly, most Americans are simply not making enough plans for retirement. Many find themselves resigned to having to... Read more

Cycle 3 Document Restatement FAQs

November 2020

Documents, Retirement Plans

Every 6 years, the IRS requires that most qualified retirement plans be restated (or re-written) to encompass legislative changes and regulatory guidance that have been issued since the last restatement cycle. Operationally, the changes are already in effect and, in... Read more

It’s Time to Restate Your Plan

November 2020

Documents, Retirement Plans

Every 6 years, the IRS requires that most qualified retirement plans be restated (or re-written) to encompass legislative changes and regulatory guidance that have been issued since the last restatement cycle. Operationally, any such changes are already in effect and,... Read more

NorthCoast 99 Winner!

November 2020

General

Each year ERC (The Employer’s Resource Council) honors 99 workplaces in Northeast Ohio for attracting and retaining top performers. The program is called NorthCoast 99 and is in its 22nd year. ERC takes in hundreds of applications from area businesses,... Read more

New Limits for 2021

November 2020

Retirement Plans

For the year 2021, the IRS has announced their updates of the various limits that govern 401(k) plans. Here are the plan limits for the coming year. Please contact your plan consultant if you have any questions about what these... Read more

Succession Preparation for the Small Business Owner

November 2020

General, Plan Design, Retirement Plans

SUCCESSFUL businesses plan for succession – but nearly two-thirds of business owners have no such plan in place. Why do I need a succession plan? Just as wills are a vital document for our personal lives, a good succession plan... Read more

What is a Partial Plan Termination?

November 2020

Retirement Plans

According to the IRS, you may have a partial plan termination if more than 20% of your total plan participants were laid off or terminated in a particular year. Partial terminations often occur when a division closes or is sold.... Read more

Hardship Withdrawal Amendments

November 2020

Distributions, Retirement Plans

Back in July 2018, we wrote about how hardship withdrawals were going to be easier for participants starting in 2019. Amendments for this change are due December 31, 2021 but we are processing them now. To handle these amendments, we... Read more