Posts by ANEW 401k TPA
One-Participant 401(k) Solo Plans on IRS Radar
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: https://www.irs.gov/government-entities/tax-exempt-government-entities-compliance-program-and-priorities#csRead More
ANEW Celebrates our 5th year Anniversary!
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…Read More
IRS Releases 2021 Retirement Limits
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…Read More