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Benefit Now, Pay Later: Here’s What to Know About NQDC Plans

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Qualified” retirement plans include 401(k) and SIMPLE plans. These plans offer tax-advantaged contributions and potential earnings. On the other hand, “Non-qualified” deferred compensation (also called NQDC) plans don’t typically include those same tax advantages, yet they help companies compete for and retain top employees. How so? Here’s one example: imagine an employee has maxed out her 401(k) or 403(b) workplace savings plan. At the same time, she still is in a position where she wants to save more for her…

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Confused About the 2018 HSA Contribution Limits?

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The IRS recently announced a clarification in a ruling it made regarding Health Savings Accounts (or HSAs). The contribution limit will stay with the original $6,900 limit for family coverage for 2018. Previously, the IRS had announced that the limit would be reduced for this calendar year to $6,850. That may not seem like a big deal, but people who had already contributed were going to face a penalty. Yes, a small penalty, but it still raised quite a few…

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