This is the time of year that companies are finishing up their annual retirement plan audits. The filing of IRS Form 5500 is due on July 31 for plans with calendar year-ends. In general, any retirement plan exceeding $250,000 in assets must file a 5500.  But how do you know when you are ready for a retirement plan audit? With some exceptions, all retirement plans with … [Read more...]

Planning for Your Retirement Income

Save substantially. Invest your savings wisely. Conventional wisdom holds that this is the way to accumulate a nest egg for your retirement, and the conventional wisdom is right on the money. However, you probably won’t always have earnings to invest. At some point, your work income is likely to cease or drop sharply in retirement, and you’ll need to draw down prior … [Read more...]