New 401k Contribution Limits

What is a 401(k) Plan?
The name is derived from the Internal Revenue Code established in 1978. It's presently administered by the government section called the Employee Benefits Security Administration, also known as the EBSA. A 401(k) plan is a plan usually used for retirement and is funded by an employee contribution. Some companies will match the contributions up to 100% of the employee's contribution and yet some companies do not offer any matching funding. The BN Read More...
Simplified Employee Pensions
Extensive paperwork, high costs and complicated administration associated with certain qualified retirement plans may cause many small businesses to shy away from establishing any retirement plan at all. This may be true of your small business, even though you recognize the many tax and employee retention benefits of providing a plan. Whether you are a doctor, lawyer, free-lance writer, artist, manufacturer�s representative or another type of s Read More...
ROTH 401(k)s... A Wolf in Sheeps Clothing
Roth 401 (k) Overview: On January 1, 2006, employees can choose to make their 401(k) contributions on either a pre-tax or an after-tax basis or a combination of the two. The contribution limits which apply to these 401(k) contributions made in 2006 (whether made pre-tax or after-tax or both) are: 1. $15,000 under the basic limit, plus, 2. $5,000 additionally for employees who are age 50 or older. �The employer remains responsible for withhold Read More...