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Plan Sponsor Resources

Smart(k)®‘s dedicated and experienced team of retirement plan professionals are our clients’ best resource. Please contact us with any plan related questions you may have at 844.Smartk1 (844.762.7851).

Plan Sponsor Newsletters

Plan Sponsors need to know what’s happening in the world of retirement plans and they don’t have all day to dedicate to becoming an expert. Full of timely, topical, and informative articles written by industry experts and reviewed by FINRA, the Plan Sponsor Outlook newsletter can help.

Start-Up Plan Tax Credit

Congress understands the effectiveness of 401(k) plans in helping participants reach their retirement savings goals and they created a tax credit for small employers who start 401(k) plans.

Contribution Limits Table

Each year, the IRS announces a number of limits that apply to qualified retirement plans.

Plan Sponsor Newsletters

Hidden fees, high expenses, administrative complexity, prudent expert investment due diligence, failed compliance testing, personal liability…No wonder only 14% of small employers offer 401(k) plans.

Plan Sponsor Outlook Q1 2022 Plan Sponsor Outlook Q4 2021 Plan Sponsor Outlook Q3 2021 Plan Sponsor Outlook Q2 2021 Plan Sponsor Outlook Q1 2021 Plan Sponsor Outlook Q4 2020 Plan Sponsor Outlook Q3 2020 Plan Sponsor Outlook Q2 2020 Plan Sponsor Outlook Q1 2020 Plan Sponsor Outlook Q4 2019 Plan Sponsor Outlook Q3 2019 Plan Sponsor Outlook Q2 2019

Start-Up Plan Tax Credits

Congress understands the effectiveness of 401(k) plans in helping participants reach their retirement savings goals. As such, in 2001 as part of a new law, they created a tax credit of up to $1,500 ($500 per year for three years) for small employers who start 401(k) plans to help defray the costs of starting and administering the plan. With the passing of the SECURE Act in 2019, Congress further increased the potential tax credit to a maximum of $5,000 annually.

To take the credit, contact your tax advisor or obtain Form 8881 , Credit for Small Employer Pension Plan Start-Up Costs, and follow the instructions.

Contribution Limits

Each year, the IRS announces a number of limits that apply to qualified retirement plans. The table below summarizes some of these limits.

2022 Limit 2021 Limit
401(k) Maximum Deferral (402(g) Limit) $20,500 $19,500
Age 50 “Catch Up” Contribution Limit $6,500 $6,500
415 Limit (annual additions limit) $61,000 $58,000
Highly Compensated Employee Dollar Limit $135,000 $130,000
Key Employee Dollar Limit (top-heavy plans) $200,000 $185,000
Compensation Limit $305,000 $290,000
Taxable Wage Base $147,000 $142,800
IRA Maximum Contribution $6,000 $6,000