Did You Know?

Are You A Fiduciary?  ERISA generally defines a fiduciary as anyone who exercises discretionary authority or control over a plan’s management or assets, including anyone who provides investment advice to the plan.  Fiduciaries who do not follow the principles of conduct may be held responsible for restoring losses to the plan.

You Can Save As Much As $57,500 Per Year Tax Deferred, Depending On Your Age? This would include any participant deferrals, which are currently limited to $17,500 per participant, plus $5,500 in catch up contributions for those ages 50 and over. The Employer contribution could then be calculated to reach the maximum allowable ($57,500 if age 50 or older). Taxes on these contributions are not paid until such time as the funds are distributed from the plan.

You May Be Able to Pay Higher Education Expenses Penalty Free. Generally, any distributions made from a plan prior to age 59 ½ are subject to a 10% penalty. Distributions from an IRA, however, are penalty free if used to pay qualified higher education expenses. This exception is not available for distributions from a qualified plan. But, if the plan allow for in-service distributions, you can roll over an in-service distribution to an IRA and then pay the education expenses, avoiding the penalty.


LGT - Retirement Plan Solutions has a reputation for focusing on what matters – an unyielding commitment to excellent client service.

LGT - Return To Homepage