Recent changes in retirement plan rules have created a new kind of catch-up deferral and have eliminated the combined limitation of salary deferrals to tax-qualified plans, such as 401(k) and 403(b) plans, and certain non-qualified 457(b) plans. Under the new rules one can now do a lot more annual tax-deferred savings than previously allowed.
RECORD RETENTION: What Documents Do You Keep? How Long Do You Need Them?
Many organizations are struggling with record retention requirements and protocols. The increase in electronic records have created additional confusion about what needs to be retained and how to access the information.