The 2021 PEPRA compensation limits will be $128,059 for Social Security members and $153,671 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from […]Read More… from 2021 PEPRA compensation limits
The 2020 PEPRA compensation limits are $126,291 for Social Security members and $151,549 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from 1996 […]Read More… from 2020 PEPRA compensation limits
The 2019 PEPRA compensation limits are $124,180 for Social Security members and $149,016 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from 1996 […]Read More… from 2019 PEPRA compensation limits
Qualified retirement plans were a good deal before the December 2017 Tax Cuts and Jobs Act. For many professional firms, they’re now better than ever. Here’s the new part: many owners of pass-through businesses like S corporations, LLCs and sole proprietors are eligible for a 20% deduction on Qualified Business Income (QBI), essentially non-W2 business […]Read More… from Professional Firm Retirement Plans and the New QBI Tax Deduction
For most California public agencies funding Other Post-Employment Benefits (OPEB) through CERBT, there is a small difference between the 6/30/2017 assets originally reported and the final audited assets (Fiduciary Net Position, or FNP). Our clients have been asking what to do about it. Even the State of California has the same issue. We’ve discussed it […]Read More… from CERBT Audited vs. Reported Assets
The 2018 PEPRA compensation limits are $121,388 for Social Security members and $145,666 for non-Social Security members. These limits are the maximum pay that a California public agency can recognize in a defined benefit plan for PEPRA members, i.e. those first hired by a public employer in 2013 or later. “Classic” members hired from 1996 […]Read More… from 2018 PEPRA compensation limits
We often hear the question “why should I contribute to a qualified retirement plan if tax rates might go up”? Good question; here’s why: you’ll probably end up with more money after tax. That’s true even if tax rates go up in the future. How much more you’ll end up with depends on your investment […]Read More… from The Value of Tax Deferral
Nonqualified deferred compensation plans are a common feature of executive pay packages. They’re a great choice in the right conditions, i.e. when: The executive’s share of company profits is very small, and The executive is willing to shoulder the employer’s credit risk, and Providing the benefits through a qualified plan would be too expensive. But […]Read More… from Deferred comp plans: when they’re a great choice, and when they’re not
We all knew this day would come, and now it’s here. New applications for the Early Retiree Reinsurance Program (ERRP) will be received only until 5 pm on Thursday, May 5th. The last time we blogged about this, the ERRP money was going fast. Now the urgency is clear. So if you’ve been thinking about […]Read More… from It’s now or never for ERRP application
In our last ERRP post, we noted that $1 billion of the original $5 billion in Early Retiree Reinsurance Program (ERRP) funds has been paid out. Now, according to an article this week in Business Insurance, the US Dept of Health and Human Services (HHS) estimates that $3.6 billion will have been paid out in […]Read More… from ERRP update: it’s time to make your move
