Retirement Plan FUN

  1. 2. EGPS 3(16) fiduciary services reduce risk and this for employers
  2. 4. Small business owners can receive this if they establish a new retirement plan
  3. 6. Type of plan for 100 or fewer employees that requires mandatory employer contributions
  4. 7. Reduces the payroll cost for taxes and insurance by 30% on fringe wages
  5. 8. Type of plan offered by non-profits, governmental employers, and churches
  6. 9. This type of plan allows employers to skip nondiscrimination testing
  7. 10. Recent legislation affects these types of employees (acronym) and their eligibility
  8. 12. Legislation passed in December 2022 bringing a plethora of changes to the retirement industry
  9. 13. Limits updated yearly that affect how much can be contributed to various retirement/benefit plans
  1. 1. This plan provision will become required under SECURE 2.0 and increases plan participation
  2. 3. EGPS has a team of these professionals that specialize in defined benefit plan numbers
  3. 5. Type of plan that allows significantly more retirement savings, ideal for small, high-earning businesses
  4. 11. True or false, employers can establish a cash balance plan for 2023 in 2024