This article has been updated for 2024. Can you rollover a Defined Benefit Plan distribution to an IRA? Yes, you can, subject to the specifics below. Note that these rules apply to both traditional Defined Benefit Plan rollovers and Cash Balance Plan rollovers. Background: Defined Benefit Plan Rollover to an IRA When a participant separates […]
This article has been updated for 2024. How much is the lifetime limit for a Defined Benefit Plan? Many business owners, financial advisors, and CPAs ask us this question. Before we go any further, let’s define what we mean by a lifetime limit. Simply put, it is the maximum lump sum distribution that can be […]
This article has been updated for 2024. The Defined Benefit Plan Actuary In general, if you have a Defined Benefit Plan or Cash Balance Plan, you will need an actuary. Being a Defined Benefit Plan, or pension, actuary is a specialty that requires significant education, skill, and continuing education. What is an actuary and what […]
This article has been updated for 2024. If you have a Solo 401(k), you may encounter an interesting situation. First, as a part of maintaining a 401(k) Plan, you may need to file Form 5500-EZ. However, you will likely find that your financial provider does not offer this filing as a service. It’s not that […]
