Articles

• Mega Backdoor Roth with ERISA 401(k) Plans

  Most plans that are not owner-run, such as those offered by hospitals, universities, and other large employers don't allow the option for doing Mega Backdoor Roth conversions, but a smaller partner-run practice plan can easily adopt any changes necessary to implement the mega backdoor Roth 401(k) strategy. Read on

• Cash Balance Plans For Solo And Group Practices

  A Cash Balance plan helps boost your tax-deferred savings if you plan to retire in 10 years or less and you would like to catch up quickly. This type of plan can also increase tax-deferred savings if you are making a lot of money now but are not sure whether this will last over the long term. Read on

• How To Reduce Your Practice Retirement Plan Cost

  It is well-known that the majority of retirement plan providers that serve the small and mid-sized retirement plans are bundled platforms that make most of their money via asset-based fees. Many plan providers do not offer the best available solutions to small solo and group practice plans, and this often means sub-par plan design and lack of any fiduciary or compliance services, which leads to higher plan cost and can potentially result in unnecessary expenses later on. Even those providers who are open-architecture tend to charge significantly higher fees for small solo and group practice plans relative to what the larger plans pay for the same services. However, it is definitely possible to get the best available plan services at a lower cost. Read on

• How to Run a Successful Retirement Plan: A Guide for Medical and Dental Practices

  Whether you have an existing plan, looking to open a new plan or upgrade the plan you already have, there are four things you need to consider that can significantly improve the quality of your plan: having the right plan design, minimizing plan cost, managing your fiduciary liability as a plan sponsor and selecting the right plan services that can both minimize your fiduciary liability and help plan participants achieve better investment results. Read on