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Participant Corner

Enrollment Procedures

Have you just started a new job or have you just become eligible for your company retirement plan? Enrolling in a retirement plan and filling out the required paperwork can be confusing and cumbersome. There are three major components needed in all retirement account paperwork:

  • The first is to decide your contribution amount and which type of contribution you want: Pre-Tax or Post-Tax (Roth).
  • Second, you must list beneficiary information to ensure your plan assets will go to the proper individuals upon your death.
  • Lastly, you must select the proper investments for your financial situation and goals.

Contact Wade Behlen, Director of Retirement Plans | Foundations to guide you through the Enrollment Procedures.

Model Selection

Retirement account platforms can offer anywhere from ten to over one hundred investment options to participants. Too many times these investment options are confusing and participants do not have the time to research or review their selections regularly. This is where WealthPLAN Partners can help. Our investment team can educate you on how to diversify your portfolio to help manage risk while seeking growth.

Contact Wade Behlen, Director of Retirement Plans | Foundations to help assist you with Model Selection.

401(k) Plan Contribution Limits

There are multiple plan options for participants to utilize. At WealthPLAN Partners we work to find ways for our clients to utilize the available tax breaks and make decisions that may increase their savings and income potential. Below are a few of the most common IRA and Pension Plan limits.*

Contacting a WealthPLAN Partners Wealth Advisor can help you make sound financial decisions–decisions that could help you work towards your financial future.

SIMPLE IRA Elective Deferral

  • Under age 50 – $12,500
  • Age 50 and Over – $15,500

401(k), 403(b), 457, and SEP Elective Deferral

  • Under age 50 – $18,000
  • Age 50 and Over –“ $24,000

*www.irs.gov

Rollovers

Have you just started a new job and aren’t sure what to do with the 401(k) account from your previous employer? Did you come from a company that had a SIMPLE IRA? Do you have other individual IRA’s collected over years of employment but have not checked or changed the investments for some time? Maybe you have several accounts that seem to be unmanaged or have not been given the proper attention because they’re held in multiple locations.

At WealthPLAN Partners our Wealth Advisors can help educate you to determine the appropriate route to consolidate your accounts and create one simple manageable plan. Contact us today.

Savers Credit

Did you know that the government has programs in place to give you a tax credit if you have been saving in your company retirement plan? Many participants do not take advantage of this credit and are walking away from as much as $1,000 per year.

At WealthPLAN Partners our Wealth Advisors can help educate you to determine if you qualify for a tax credit and help keep you on track towards saving for retirement through your company retirement program.

For further explanation or advice contact a WealthPLAN Partners advisor or by e-mailing Director of Retirement Plans | Foundations.

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