myStockOptions.com has updated its website with information on the 2018 Tax Cuts & Jobs Act.
Contributing more than the minimum required for 2017 by the September 15 deadline will result in a higher deduction for plan sponsors, and continuing to accelerate funding in the future can minimize PBGC costs, improve funded status and mitigate higher required contributions in coming years.
The new law extends the time a participant has to repay loans from 60 days after an offset to the date their tax return is due.
They have until mid-September to deduct pension plan contributions at the rate of 35%; after that, the lower 21% rate kicks in.
The National Tax-Deferred Savings Association updates its reference guide ‘The Source’ to reflect last year’s tax reform and the DOL fiduciary rule derailment.
A mere 29% know that they are vehicles for education savings, Edward Jones found in a survey
Of this group, 25% said they will increase their company match to the 401(k) plan.