One-Participant 401(k) Solo Plans on IRS Radar

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The Tax Exempt and Government Entities (TE/GE) 2021 list of priorities includes Solo K Plans. Their focus is to review one-participant 401k Plans to determine if there are operational or qualification failures, income and excise tax adjustments or plan document violations.  For a full listing of their focus visit:

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ANEW Celebrates our 5th year Anniversary!

An elderly man celebrating his birthday with his senior friends

Happy Anniversary ANEW 401k TPA! Congratulations on 5 years! Here’s to the next 5, then the next 5 and so on and so on.  Starting ANEW was one of the best business and personal decisions I have ever made. It has been a lot of hard work and continues to demand a lot of hard work, but…

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IRS Releases 2021 Retirement Limits

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The limits for 2021 are now available. The 401(k), 403(b) and 457 Employee Deferral Limit remained unchanged from 2020 at $19,500. The Catch-up Contribution of $6,500 also remained unchanged.  The Annual Additions Limit for Defined Contribution Plans increased from $57,000 in 2020 to $58,000 in 2021.  The Compensation Limit increased from $285,000 in 2020 to $290,000 in…

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