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Career
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What is a 3(38) Investment Manager?
Does Your Retirement Plan Have a 3(38) Investment Manager? What is a 3(38) Investment Manager? A 3(38) Investment Manager is an investment fiduciary on a retirement plan as defined by ERISA (Employee Retirement Income Security Act of 1974) section 3(38). The 3(38) is responsible for selecting, managing, monitoring, implementing, and benchmarking the investment offerings of…
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Untangling Your Finances When You Divorce: Don’t Forget These Important Details | Part Three | Taxes & Financial Planning
Filing Taxes as Single Can Take a Toll Your tax-filing status will be your status as of the end of the year. This may cause your taxes to increase or lead to additional liability. If you are a W2 employee and have been withholding for most of the year based on being married, you may…
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IRS Announces Increased Auditing for Solo 401(k) Retirement Plans
The benefits of self-employment are plenty, but there’s at least one significant drawback: the lack of an employer-sponsored retirement plan. Enter the solo 401(k). Designed for self-employed workers, a solo 401(k) mimics many of the features of an employer-sponsored plan, without the drag of the administrative burdens a traditional 401(k) is known for. A solo…
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Why do experts call my 401k a “qualified plan”?
The quick answer is: A qualified plan is an employer-sponsored retirement plan that qualifies for special tax treatment under Section 401(a) of the Internal Revenue Code. Now for some not too detailed details… There are many different types of qualified plans, but they all fall into two categories. (1) Defined benefit plans (like a traditional…
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Medicare Premiums for High-Income Earners
In 2021, some Medicare recipients will see their base premium increase due to two different laws that govern premiums. One law says that ordinary recipients can’t have their standard premium go up by more than the Social Security cost of living increase for that year. Since the cost of living increase in 2021 will be…
