IRS does not pay ‘bounties’ to retirement plan auditors

Posted Leave a commentPosted in 401(k), Accounting, Retirement

I found this interesting exchange in the reader comments on Employee Benefits Adviser. I changed the names and of course can’t vouch for the authenticity of the writers. The article topic was the increased rate of audits of retirement plans since the IRS is aware that a high percentage of retirement plans have major deficiencies. […]

MetLife retirement plan customers may be due refunds

Posted Leave a commentPosted in Financial Planning, Insurance, Retirement

MetLife Inc. agreed to pay a huge fine and reimbursement of $25 million for making negligent misrepresentations and omissions that mislead tens of thousands of its retirement plan customers. $5 million of that will be used to reimburse customers for excess fees charged by the firm. This is the 2nd largest fine ever levied in the regulation of […]

The worst of residential real estate performance

Posted Leave a commentPosted in Investment, News and Politics, Retirement

I’ve been negative on residential real estate as a financial asset for at least the past 12 years but that’s perhaps mostly because I’ve personally taken such a beating in suburban Philadelphia and along the bayshore region in south Jersey. Ten years ago in 2006 this historic (c 1901) stone home in Bala Cynwyd on the […]

America’s evolving attitudes about inheritance

Posted Leave a commentPosted in Financial Planning, Retirement, Tax Planning

When it comes to money, we are still not communicating well with family and advisers. Estate tax laws aren’t helping. A new report by Hearts and Wallets provides some fascinating insights on America’s evolving attitudes about inheritances, including: “only 27% of the parents surveyed have told their children how much they are likely to inherit” […]

Negative interest rates: what does it mean?

Posted Leave a commentPosted in Financial Planning, News and Politics, Retirement

How current news affects financial planning Much of the world has entered into a period of negative interest rates with little economic growth. Here in the United States Federal Reserve Chair Yellen still says that interest rates will rise (and she knows better than anyone) but remain at historically low levels this year. Some doubt […]

What the stock market did while you were out

Posted Leave a commentPosted in Financial Planning, Investment, Retirement

In case anyone has not noticed, the stock market’s performance stalled a year ago after 6 years of almost straight line growth. We hit bottom in the ‘great recession’ in 2009 and and then values tripled over the next six years. Since last January we’ve lost value. The overall long term return on investment for […]

How to maximize tax savings for business owners

Posted Leave a commentPosted in Retirement, Small Business, Tax Planning

This post is based on a consultation I had today that echos a very common business planning theme: A successful small business owner wishes to begin a retirement savings plan to make the most efficient use of the business’ profits.   The goals are simple: Maximize the owner’s account contribution, Maximize tax savings (avoid current income taxation), […]