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February 2012 :::
FAQ of the Moment
What is the 401(k)/403(b) deferral limit? What is the Social Security Taxable Wage Base?
February 2012 :::
FAQ of the Moment
Do Highly Compensated Employees (HCEs) have to wait for non-discrimination testing to file their individual tax returns?
February 2012 :::
FAQ of the Moment
What is Automatic Enrollment?
February 2012 ::: FAQ of the Moment
Are Roth 401(k) contributions allowed?
February 2012 ::: FAQ of the Moment
How does PPA 2006 affect my 401(k) Plan?
February 2012 ::: FAQ of the Moment
What is a Safe Harbor Plan?
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February 2012 ::: News
The Department of Labor and the Internal Revenue Service mandates that all eligible employees be notified of their right to participate in your company's retirement plan. They must be given written information about the plan and must complete and sign an enrollment form indicating whether or not they will be participating in the plan.
Remember, Employer Contributions must be made by the due date of your corporate
tax returns on extension to be tax deductible.
February 2012 ::: News
The Department of Labor (DOL) is taking a very firm position that employee 401(k)
salary deferrals and employee loan repayments must be transferred from the Employer
to the Plan’s Investment Trust as soon as administratively feasible. The DOL
has said that their definition of "as soon as administratively feasible" is
the same day that the Employer makes payment of an employee’s payroll.
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Alternative Payment Frequencies
Use this calculator to determine your payment or loan amount for different payment
frequencies. You can make payments weekly, bi-weekly, semi-monthly, monthly,
bi-monthly or quarterly.
You can then examine your principal balances by payment, total of all payments
made, and total interest paid.
Definitions
- Payment
- Payment for this loan.
- Interest rate
- Annual interest rate for this loan. Interest is calculated per period on the current outstanding balance of your loan at the annual rate divided by the number of annual periods.
- Payment
- The type of payment for this loan. The options are weekly (52 payments per
year), bi-weekly (26 payments per year), semi-monthly (24 payments per year),
monthly (12 payments per year), bi-monthly (6 payments per year), and quarterly
(4 payments per year).
- Number of payments
- Number of periods for this loan. This is the total number of scheduled payments for the loan.
- Loan amount
- Total beginning loan balance.
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