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Fiduciary Reminders: End-of-Year Planning

December 2011

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As the end of the year approaches, you may wish to review your goals and objectives with your retirement plan consultant to determine if any changes should be made. Typically, a calendar-year defined contribution plan can be amended as late as December 30th, other than time-sensitive items like adopting safe harbor design, in order to take advantage of changes for the 2012 year. End-of-year considerations can include the following:

  • Match reinstatement
  • Requirements for allocations
  • Safe-harbor feature
  • Acquisitions during the year
  • Catch-up provisions
  • Lump sum deferral option at year-end
  • Cross-testing tiers
  • Sales or down-sizing during the year
  • Distributions to terminees with account balances
  • Compliance with 404(c)

Feel free to contact me to discuss any important changes or to go over any questions you may have about improving the value and success of your retirement plan.

New Wealth Advisors is an affiliate company of MFA – Moody, Famiglietti & Andronico, LLP. The views, opinions, positions or strategies expressed by New Wealth Advisors, the authors of this article are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of MFA – Moody, Famiglietti & Andronico, LLP.  MFA makes no representations as to accuracy, completeness, suitability, or validity of any information within this article and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

This article contains general information that is not suitable for everyone. The information contained herein should not be construed as personalized investment advice. Past performance is no guarantee of future results. There is no guarantee that the views and opinions expressed in this article will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security.

New Wealth Advisors, LLC (New Wealth Advisors) is an SEC registered investment adviser with its principal place of business in the State of Massachusetts. New Wealth Advisors and its representatives are in compliance with the current notice filing requirements imposed upon registered investment advisers by those states in which New Wealth Advisors maintains clients. New Wealth Advisors may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by New Wealth Advisors with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

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Scott D. Tuxbury
Director of Retirement & Investments
(978) 569-2947
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