The Retirement Advantage, Inc. (TRA), a leading provider of retirement plan solutions, is pleased to announce the appointment of Stephen Switzer to its Regional Plan Consulting (RPC) team. Switzer will assume the role of RPC, serving clients in Alabama, Florida, Georgia, Louisiana, Mississippi, the Carolinas, and Tennessee. He will report directly to Darin Erdmann, TRA's Director of Sales & Distribution.

The post PRESS RELEASE – TRA Reunites with Stephen Switzer as the Newest Regional Plan Consultant appeared first on TRA.

Discover the 414(k) Account: A Unique Retirement Option - A 414(k) account, a distinct subaccount within a DB plan funded by employer contributions, operates much like a DC plan and requires specific plan language to establish.

The post CASE OF THE WEEK – What is a “414(k) Plan?” appeared first on TRA.

Attention business owners! If you're keen on setting up SIMPLE IRA plans, it's crucial to know the deadline and the essential steps required for a seamless and successful establishment.

The post CASE OF THE WEEK – Did SECURE Acts 1.0 and/or 2.0 Change the Deadline for Setting Up a SIMPLE IRA Plan? appeared first on TRA.

The Retirement Advantage, Inc. (TRA), an independently owned, nationally recognized retirement services company, is thrilled to announce the addition of Jesse McLeod to their team as the newest Regional Plan Consultant (RPC). McLeod will be responsible for overseeing a territory that includes Arizona, Southern California, Hawaii, New Mexico, Nevada, and Utah, reporting directly to Darin Erdmann, TRA's Director of Sales & Distribution.

The post PRESS RELEASE – The Retirement Advantage (TRA) Strengthens Distribution Team in the Southwest appeared first on TRA.

The inclusion of an automatic enrollment feature in a governmental 457(b) plan is contingent upon state law. To gain a clear understanding of the regulations in a specific state, it is advisable to consult with a knowledgeable professional who has a deep understanding of that state's statutes.

The post CASE OF THE WEEK – Automatic Enrollment and Governmental 457(b) Plans appeared first on TRA.

The SECURE Acts 1.0 and 2.0 have introduced beneficial modifications to the rules governing plan creation and financing. One noteworthy change is the option to retroactively make first-year elective deferrals for specific unincorporated business owners, effective starting from the 2023 plan year. However, it's essential for potential investors to exercise caution and thoroughly explore the intricacies of these changes by engaging in discussions with their tax and legal advisors before committing to a plan.

The post CASE OF THE WEEK – Can My Client Still Set Up a 401(k) Plan for 2022? appeared first on TRA.

When a business files for bankruptcy, there will be unique considerations with respect to the business’s retirement plan depending on the type of filing (Chapter 7 or 11). Participants assets are always protected from a bankrupt employer’s creditors, but whether the plan continues depends on the situation.

The post CASE OF THE WEEK – Chapter 7 vs. Chapter 11 Bankruptcy and Considerations for Retirement Plans appeared first on TRA.

To understand who is responsible for voting proxies for securities held in a qualified retirement plan, refer to the governing plan documents. The plan document should clearly outline the authority for proxy voting and ensure that the process and procedures comply with DOL regulations that prioritize prudence and loyalty.

The post CASE OF THE WEEK – Proxy Voting on Securities Held in Qualified Plans appeared first on TRA.

The Retirement Advantage, Inc. (TRA), a prominent provider of retirement plan solutions, is proud to announce the latest addition to its Regional Plan Consulting (RPC) team.

The post PRESS RELEASE – The Retirement Advantage, Inc. Welcomes Nic Irick to Bolster Regional Plan Consulting Team appeared first on TRA.

Retirement funds deposited within an FDIC-insured institution receive coverage if they're allocated to deposit products such as checking accounts, savings accounts, money market deposit accounts, or certificates of deposit (CDs). The extent of coverage is contingent upon factors such as the nature of the retirement assets being self-directed or administrator-directed, as well as their classification as contingent, noncontingent, or overfunded sums.

The post CASE OF THE WEEK – Retirement Plans and FDIC Coverage appeared first on TRA.