BENEFIT EQUITY, INC.

What really is a defined benefit plan and what are the real benefits of this type of retirement plan? In this article, we explore the ins and outs of a defined benefit plan while reviewing its characteristics, purpose, and a good measure of insider scoops of how these plans work. Learn more about the advantages for this type of plan in this article written by Robert Gorelick, APA and Founder of Benefit Equity Inc., at https://www.benefitequity.com//what-is-a-defined-benefit-d #BenefitEquityInc #BEI #DefinedBenefitPlan #TaxBenefits #TaxSavings #RetirementDistributions #RetirementPlans #RetirementPlanCompliance

From both an employer’s and an employee’s perspective, why is the correct handling of a designated beneficiary form and its completion so critical? This is because this all-important form controls how retirement funds will be allocated in the case of death, divorce, and other life-altering events and who will benefit from those funds. What role does the SECURE Act of 2019 play in retirement distribution for both employers and employees? Get educated, so you can be certain you...r retirement funds and plans will be handled in just the right way. Learn more about this important topic in this article written by Robert Gorelick, APA and Founder of Benefit Equity Inc., at https://www.benefitequity.com//wheres-my-beneficiary-desig. #BenefitEquityInc #BEI #DesigntatedBeneficiary #GetInCompliance #SECUREAct #RetirementDistributions #RetirementPlans #RetirementPlanCompliance

Happy Fourth of July from all of us at Benefit Equity, Inc! Thank you to all who served and for those who continue to protect and keep our nation free. Wishing everyone a wonderful holiday as we celebrate our great nation’s independence! #BenefitEquityInc #BEI #FourthofJuly #IndependenceDay #WeLoveTheUSA

This Memorial Day, our thoughts turn to those who sacrificed and gave all. We remember you and we are grateful for your service, commitment, and courage. Happy Memorial Day. #BenefitEquity #BEI #MemorialDay #ThankYou #LoveOurMilitary #LoveOurVeterans #lNeverForget

Bringing retirement plans into compliance requires far more than just rewriting and amending plan documentsit takes a deep understanding of how to apply new rules and regulation. The IRS doesn’t always provide a full explanation of how to interpret some of these laws, yet employers are still required to follow and adopt all new updates. In this second legislative update, Robert Gorelick, APA and Founder of Benefit Equity Inc., highlights new and significant changes to the Hardship Distribution Amendment, SECURE Act, and the CAREs Act that employers must adhere to going forward. Learn more in the full article at https://www.benefitequity.com/b/legislative-update-part-two #BenefitEquityInc #BEI #RetirementPlans #401k #Cycle3Restatement #IRS #ProfitSharing #MoneyPurchasePlans

#BenefitEquityInc #BEI #HappyHolidays

#Thanksgiving #Thankful #BenefitEquityInc #BEI

As a business owner, are you certain your workers are classified correctly, as either employees or independent contractors? Do you know those who should be participating in your retirement plan or not? If you’re a California employer you’re probably aware of AB5, the law that makes gig workers such as Uber and Lyft, classify their drivers as employees. Currently on the November ballot is Proposition 22, a piece of legislation that aims to exempt these ride-sharing and food-de...livery firms from AB5. Whatever your position is on these California laws and propositions, you need to be aware the rules are different for retirement plans. The following article by Robert Gorelick, APA and Founder of Benefit Equity, Inc., details a proposed Department of Labor (DOL) lawthat clearly defines how to determine the difference between independent contractors or employees and keep your retirement plan in compliance. https://www.benefitequity.com/blog/whos-an-employee #BenefitEquityInc #BEI #AB5 #Proposition22 #Prop22 #GigEconomy #IndependentContractors #RetirementPlans #DOL

Happy Labor Day Weekend! #BenefitEquityInc #BEI #LaborDay #LaborDayWeekend

The newly adopted SECURE Act provides for an optional, up to three-year tax credit for qualified startup costs (paid or incurred by an eligible employer) in order to establish an eligible employer retirement plan. The credit is for new plans that become effective after 12/31/2019. An eligible employer is one that has less than 100 employees and who has received at least $5,000 of compensation from the employer for the preceding year. Learn more about this important legislative update and who is eligible for loans and distribution, in this article by Robert Gorelick, APA and Founder of Benefit Equity, Inc. https://www.benefitequity.com//distribution-and-loans-unde #BenefitEquityInc #BEI #RetirementPlans #SecureAct #TaxCredits #COVID-19 #EmployerRetirementPlans

The bipartisan Retirement Savings Lost and Found Act of 2020, currently making its way through Congress, would create a national lost and found account for 401(k) retirement plans. An estimated 30% of employees have left a retirement account at their previous employer and recent surveys indicate 43% are GenXer’s and 35% are GenYers. According to the Government Accountability Office, millions more have left two or more accounts behind at previous employers. Read more in this informative article by Robert Gorelick, APA and Founder of Benefit Equity Inc. at http://www.benefitequity.com/blog/lost-and-found. #BenefitEquityInc#BEI #RetirementSavingsLostandFoundAct #LostandFoundAccounts #401K #RetirementPlans

In the past, the government has required anyone over the age of 70 to withdraw a minimum amount of funds from their retirement plan. Beginning in 2020, individuals can suspend taking Required Minimum Distribution (RMD), thanks to this new law included in the CARES Act. The IRS released Notice 2020-51 on June 23, 2020 providing that RMDs for the year 2020 were waived from IRAs, as well as certain defined contribution plans, and due to the impact of COVID-19. To learn more about this important new component of the CARES Act, read this informative article by Robert Gorelick, APA and Founder of Benefit Equity Inc. at http://www.benefitequity.com//what-did-you-do-with-your-rmd #benefitequityinc #BEI # RMD #requiredminimumdistribution #retirementplans #CARESAct #covid19 #IRS #definedcontributionplans #IRAs

As we celebrate America’s Independence, we remember the brave men and women who sacrificed and gave all to keep our nation strong and free. From all of us at Benefit Equity, Inc. we wish you a wonderful 4th of July holiday and a safe long weekend. #BenefitEquityInc #BEI #FourthofJuly #IndependenceDay #StaySafe

Congress is giving employers up to $15,000 to start a retirement plan for their employees. This newly adopted SECURE Act provides for an optional tax credit for up to three years for qualified startup costs, paid or incurred by an eligible employer, to establish an eligible employer plan. Learn how this credit could be advantageous for your business in this timely and informative article by Robert Gorelick, APA, Founder of Benefit Equity, Inc. at http://www.benefitequity.com//credit-for-small-retirement-. #BenefitEquityInc #BEI #SECUREAct #TaxCredit #EmployerRetirementPlans #RetirementPlans

Thank you for your service and sacrifice to our country. We support and celebrate our veterans! #BenefitEquity #BEI #MemorialDay #ThankYou

Robert H. Gorelick, APA and CEO of Benefit Equity Inc., provides detailed information about the most common employer contribution known as a Safe Harbor Contribution. These are the most frequently asked questions about this type of retirement plan contribution and includes how to stop the 3% contributions and can payroll payments can be deferred. Read the full article at http://www.benefitequity.com//stopping-safe-harbor-contrib #BenefitEquity #BEI #CARESAct #Covid19 #PensionAdvisor #SafeHarbor #RetirementPlan

On March 27th ,the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), was approved by Congress to afford massive relief, for those suffering as a result of the Coronavirus pandemic. It included several provisions that help retirement plan participants. Don’t miss this informative and valuable article by Robert Gorelick, APA, and Founder of Benefit Equity, Inc. at http://www.benefitequity.com//cares-act-retirement-plan-pr. #BenefitEquity #BEI #CARESAct #Covid-19 #EconomicSecurityAct #RetirementPlanProvisions

During this unprecedented time in our nation and the world, we want to inform you about a solution to minimize required contributions to your pension plan. Please let us know no later than April 16th, 2020, if you would like to freeze your pension plan to minimize your required contribution for 2020. Learn more about freezing your pension plan at http://www.benefitequity.com//plan-amendment-to-minimize-r #BenefitEquityInc. #BEI #RetirementPlans #PensionPlans #FreezeMyPensionContributions

At Benefit Equity Inc. (BEI), we know first hand many employers are under the impression (or have enough experience to know), that retirement plans are a legal entity that must be handled by professionals. Some have chosen to leave their retirement plans on auto-pilot, only to learn later it was not handled correctly. What is the best choice and how should a business owner view and select a company-sponsored retirement plan? Learn more in our latest blog by Robert Gorelick, APA: https://bit.ly/2NONuU0 #BenefitEquityInc #BEI #RetirementPlans #401k