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Tag: Ed

48 posts tagged as "Ed"

Tax Tip Tuesdays: Tax Tips for Parents

Mar 24, 2020

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

As a parent of children, teenagers or young adults, you’re often able to share some wonderful and memorable experiences together.  It’s one of the great perks of being a parent!  Additionally, some of the financial perks of being a parent or having dependents can become apparent during tax time.  The Tax Cuts and Jobs Act (TCJA), which became effective on January 1,

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Tax Tip Tuesdays: SEP IRAs and Other Retirement Plan Reminders

Mar 10, 2020

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Tax season is a time when business owners often are juggling multiple priorities, seeking approaches for potentially reducing tax liability, while also looking for opportunities to increase retirement savings. For business owners looking for 2019 tax deductions, along with a way to jump start retirement savings, the SEP IRA is the only employer-sponsored retirement plan that can be both established and funded after the 2019 calendar year.

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Tax Tip Tuesdays: Filing Early, Are There Benefits?

Feb 11, 2020

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

As the tax deadline approaches, you may be trying to determine the best time to file your taxes.  Should I focus my attention on it now or relax and wait until it gets closer to April 15th? It probably comes as no surprise to you that there is no simple answer to this common tax season quandary. 

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Prioritize Your Financial Future with New Retirement Plan Contribution Limits and Rules

Jan 21, 2020

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Now that we’ve had a chance to ring in the beginning of a new year, and new decade, many are starting to turn their attention to important new year resolutions, such as focusing on approaches for managing your money more responsibly and effectively.  Although this may sound simplistic, for many, the ability to commit to a disciplined savings plan can be a challenge requiring both commitment and a clear strategy.

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Year-End Financial To-Do: Strategies for Improving Employee Participation in Employer Sponsored Retirement Plans

Nov 19, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

It has become increasingly clear that there is a growing retirement savings gap in the U.S., with most workers not saving enough for retirement.  Additionally, plan sponsors are beginning to understand the economic impact to their businesses, through potentially increased health care and disability claims, with employees who cannot retire due to lack of financial preparedness or adequate retirement savings.

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Scary Financial Mistakes: Defaulting on a Retirement Plan Loan

Oct 9, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Sometimes just the surprises and uncertainty in our daily lives can be scary!   At times, things just don’t work out as planned and events can happen that we didn’t anticipate; like a job change or health issue.  And typically, these situations seem to happen at the worst possible time and can lead to some unplanned and frightening financial challenges.  

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New State-Run Retirement Plans Can Impact Business Owner Decisions

Sep 10, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Business owners have historically viewed employer retirement plans, like 401(k)s, as an effective solution for their own individual retirement savings, a mechanism for attracting and retaining employees or as a business tax saving strategy.  Yet despite the potential advantages, a survey indicated that many businesses, particularly small business owners, hesitate to sponsor their own 401(k) programs due to the cost and administrative headaches.*  As a result, 

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National 401(k) Day is a Reminder of the Importance of Helping Workers Stay on Track for Retirement

Sep 3, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

With National 401(k) Day scheduled for this week – September 6th, I started thinking about how 401(k) plans have evolved since their beginning.  For example, for years business owners gauged the success of their 401(k) plans solely by the number of employees participating in the plan.  But increasingly, many 401(k) plans are starting to determine their merits by how successfully their employees are on track for meeting their retirement savings goal. 

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Educational Entities Now Looking to Streamline and Simplify Their Retirement Programs

Jul 23, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Retirement plans for nonprofit and tax-exempt entities are often structured very differently than the retirement plans of for-profit businesses (like 401k plans). This often results in some unique challenges for both the plan sponsor and participants.  This is particularly evident with 403b plans (also known as Tax Sheltered Annuities) for educational entities, such as private K-12 schools,

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Summer Savings Strategies: Get an Early Start on Investment Success

Jul 17, 2019

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

One of the more consistently quoted investment concepts is the ‘time value of money’ and the ‘power of compounded growth’.   But what do these terms and concepts actually mean, and how do they impact you?   Perhaps a better way to describe these concepts is with the old saying ‘the early bird gets the worm’.   Investing is generally defined as purchasing an investment (i.e.

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