BPP401k.com Newsletter
August 5, 2009
Average 401(k) Plan Account Balances Doubled Between 1999 And 2007; Median Grew By 210% The average 401(k) plan account balance more than doubled for 2.4 million people who were consistently plan participants from 1999 through 2007. Every Other Month Theory The Motley Fool explores why virtually every business, contractor, sales person says that every other month is slow. Top 3 reasons to discourage 401(k) loans A recent study found that 401(k) loans are at all-time high. Unfortunately, employees don’t recognize the many ways they’re hurting their own future. Have Your 401(k)ake and Eat It Too Prior to the enactment of EGTRRA, a 401(k) plan held no benefit for an owner-only business with no common-law-employees. Why? Because of elective deferrals inclusion as part of the 25% deduction limit. Facing Your 401K Fears With the recent rebound in the stock market and stocks up 45 percent since March, it may be time to awaken from your fearful recession stupor and open those 401K statements -- and take control of your retirement. Match Game: How to Cope With a Suspended 401(k) Without stellar investment returns – and not many people are depending on those – the only way to recoup losses is to step up your contributions. IMHO: “Right” Minded Providers, like plan sponsors, have "personalities" and sometimes the chemistry that a good relationship needs to thrive just is not there, even when the plan's needs are reasonable and the provider's capabilities are top-notch. FAQ of the Week A sole proprietor has a defined benefit plan with a minimum funding requirement of more than 25% of compensation. Can deductible contributions be made on the proprietor’s behalf to a defined contribution plan as well? ANSWER |
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