Author: Ed Snyder

The IRS and Social Security released new limits recently.  After 3 years of no changes due to low inflation, some of the numbers changed; e.g. the maximum contribution to a defined contribution plan went from $49,000 to $50,000 and the 401(k) maximum went from $16,500 to $17,000.  For more details, click on the link for […]

Does the U. S. of A. want to take away your 401(k)? I’ve had a couple of phone conversations lately about required annuitization of 401(k) accounts. (“Annuitization” means converting a lump sum into a monthly income stream.) It’s something the Department of Labor (DOL) is looking at (wasting a lot of taxpayer money, of course). […]

An MRP Plans, Inc. update… 1)    The key limitation numbers for 2011 (and the old 2010 numbers) are: 2010 2011 Maximum annual benefit $195,000 $195,000 Maximum annual contribution $49,000 $49,000 Maximum 401(k) deferral $16,500 $16,500 401(k) deferral catchup (over age 50) $5,500 $5,500 Maximum SIMPLE deferral $11,500 $11,500 SIMPLE catch-up (over age 50) $2,500 $2,500 […]

In our last newsletter, we noted that Congress was considering a law that would allow for Roth conversions inside of plans, not just from IRA to IRA.  It’s becoming a reality, as the House and Senate recently passed the Small Business Jobs and Credit Act of 2010 including these provisions, and President Obama is expected […]