Archive for September, 2012
September 24th, 2012
A defined contribution plan is an employer-sponsored retirement plan that allows contributions to be made for employees based on a percentage of an employee’s compensation. Under a defined contribution plan, the maximum annual contribution on behalf of any plan participant may not exceed the lesser of 100 percent of compensation or $49,000 for 2009 and […]
September 12th, 2012
A defined benefit plan is an employer-sponsored retirement plan that provides a predetermined benefit. Defined benefit plans require the employer to promise a designated retirement benefit and then fund the plan as necessary to meet that benefit obligation. The benefit objective is the controlling force under a defined benefit plan and the contribution amounts are […]
September 6th, 2012
IRA Financial Group tax attorney Adam Bergman launched a new blog site that covers 401k related issues. Check it out at http://www.bergman401kreport.com/.