529 college plans are state sponsored education savings accounts that permits non tax deferred contributions to be made for college education tuition expenses.
Each state will set their own limit for contributions into a 529 plan. The earnings in the investment plan account grow and are distributed tax free when they are used to pay for college or other qualified higher education instutions.
Saving for college can be very difficult for many people. With the cost of housing, taxes and other expenses growing with most people, having the 529 savings plan option can give a family a certain measure of comfort knowing they are saving for college. The amount of money that grows in the 529 will vary with the performance of the investments in the account.
Our financial advisors, planners and broker dealers can provide more information and open a savings plan for you or your child.
529 Savings Accounts
Tuesday, November 15, 2011
Tuesday, August 2, 2011
Defined Contribution Retirement Plan
A corporate retirement plan where the employee contributes a defined amount based on earnings or other factors. It is a tax qualified retirement plan. Eventual investment and retirement value of the account may be transferred or rolled over into another corporate plan.
These are different from defined benefit set ups where the amount put in by and for the employee is packaged with years of service, salary and other factors to calculate a monthly benefit. Contribution retirement accounts are taken out, transferred or people can do a rollover.
The years of service and amount of contributions will effect the account balance and asset allocations are a factor in the performance of the investments and rate of return. This is also true in defined benefit corporate retirement plans.
Contribution plans like 401k's and group IRA accounts are much more popular than benefit arrangements nowadays. With much of the workforce employed with small business or non union type companies, the need for providing a fixed monthly benefit at retirement and calculating that benefit over time is less appealing to a company when a 401k or other employee controlled plan is easier for the company.
These are different from defined benefit set ups where the amount put in by and for the employee is packaged with years of service, salary and other factors to calculate a monthly benefit. Contribution retirement accounts are taken out, transferred or people can do a rollover.
The years of service and amount of contributions will effect the account balance and asset allocations are a factor in the performance of the investments and rate of return. This is also true in defined benefit corporate retirement plans.
Contribution plans like 401k's and group IRA accounts are much more popular than benefit arrangements nowadays. With much of the workforce employed with small business or non union type companies, the need for providing a fixed monthly benefit at retirement and calculating that benefit over time is less appealing to a company when a 401k or other employee controlled plan is easier for the company.
Friday, July 15, 2011
403B 5500 Plan Document
5500
Beginning in 2009, all ERISA 403 plans must file a full form 5500 that recognizes all assets under the plan. Plans with greater than 100 participants must also meet the 5500 audit requirements and regulations. Contact us below if you have questions on this rule.
Plan Document
A plan document must be in place by the effective date of the regulations. This is an important change. If a 403 b already has a plan document, the retirement plan document must be reviewed to ensure the rules under final regulations are addressed.
Review Operations - Plan sponsors must go over their procedures so they align with what is in their new or existing 403 b plan. The regulations also call for oversight.
Non actively Sponsored Plan
Regulations provide that the account manager review the plan. These still may comply without subjecting them to ERISA. Developing a plan document and reviewing service providers for your 403b plan are included in the regulations compliance.
We are the premier training company for the financial industry. Contact us with any 403b administrator question.
403b Regulations
Beginning in 2009, all ERISA 403 plans must file a full form 5500 that recognizes all assets under the plan. Plans with greater than 100 participants must also meet the 5500 audit requirements and regulations. Contact us below if you have questions on this rule.
Plan Document
A plan document must be in place by the effective date of the regulations. This is an important change. If a 403 b already has a plan document, the retirement plan document must be reviewed to ensure the rules under final regulations are addressed.
Review Operations - Plan sponsors must go over their procedures so they align with what is in their new or existing 403 b plan. The regulations also call for oversight.
Non actively Sponsored Plan
Regulations provide that the account manager review the plan. These still may comply without subjecting them to ERISA. Developing a plan document and reviewing service providers for your 403b plan are included in the regulations compliance.
We are the premier training company for the financial industry. Contact us with any 403b administrator question.
403b Regulations
Wednesday, March 9, 2011
Estate Planning Help
Learn how to protect your estate (regardless of size) from probate and over taxation. American Investment Training of New York is a free training and expert referral provider of estate planning experts who can answer any question and provide estate planner protection and questions.
Our main goal is to show you how to avoid probate and show you ways to reduce your taxes so your heirs will receive the most value possible. Proper estate planning can save your estate up to 40% in many cases in taxes.
Avoiding Probate
One of the best things you can for yourself and your family is to set up a proper trust and have your estate plan in place to avoid the probate process (court decides in an open form) that can cause you to incur much higher taxes and have your "will" be an open book for all to see. We can show you how to avoid probate and provide the experts and education you need for proper estate planning protection and avoiding probate, courts and higher estate taxes.
Visit:
Estate Planning Help
Tuesday, March 8, 2011
403b planning
We are the premier training company for the financial industry. Contact us with any 403b administrator question.
Plan Owners and administrators - Ask Us With Your Questions
We are experts in the new 403 b rules and changes. You can contact us with any question or service related to any insurance or investment using our Company Retirement Plan Question Form.
Individuals (not companies) looking for 403 plan help or any other insurance and investment question can use our Investment or Insurance Help form
Or Contact Us Direct with any Question: 403b Plan Help - Free help from American Investment Training
Plan Owners and administrators - Ask Us With Your Questions
We are experts in the new 403 b rules and changes. You can contact us with any question or service related to any insurance or investment using our Company Retirement Plan Question Form.
Individuals (not companies) looking for 403 plan help or any other insurance and investment question can use our Investment or Insurance Help form
Or Contact Us Direct with any Question: 403b Plan Help - Free help from American Investment Training
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