Retirement Plan Solutions, LLC.

About

Too much complexity and worry exists in our world. These are trying times for all American citizens.

As Plan Sponsors, you face more issues today than ever before. The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 passed with sweeping changes to the tax law intended to simplify pension legislation. In many instances it will in the long term, but in the meantime you are faced with:

deciding what provisions to incorporate into your plan,

amending your plan documents,

communicating key impacts to payrolls and participants,

working with your plan administrators to ensure operational readiness,

determining and evaluating your plan administrator's capability in complying with new tax laws,

changing your administrative procedures,

communicating and documenting new administrative procedures,

changing forms/letters/brochures,

training and educating your staff and payroll locations,

staying abreast of new guidance from the Internal Revenue and incorporating when appropriate,

assessing and making changes to your payroll system, and

many more.

We believe EGTRRA will provide real opportunities for you to maximize the value of your sponsored plans for your employees. Bottom line, EGTRRA has the potential to provide real benefits to your employees:

the ability to contribute more to the Plan

more opportunity to "catch-up" contributions

more distribution choices at retirement

more flexibility in selecting their timing and amount of benefit payments

additional tax credits

ability to buy back service for the defined benefit plan

more equitable tax treatment in divorce situations.

Plan provision decisions that you make now will have a significant impact on your employees' perception of your Plan as a valuable employee benefit. With the right decisions, you will create a win-win situation for you and your employees and add real value.

Inevitably, EGTRRA work will continue for the next few years until the "simpler tax law" is fully understood and implemented. In the meantime, some problems and complications may require you to face. Here at Retirement Plan Solutions, we have experienced colleagues who are eager and ready to support and help you. We know the relevant Internal Revenue Code, know the government market, ask the right questions, uncover the "hidden truths" of what's happening at your administrator's operation, and customize our services for your unique needs. We look forward to working with you so please contact us soon. We are excited about the opportunity to explain more about us and how we can help you.

Sincerely,

Linda Jackson
Principal
Nancy D. Mairano
Principal

Interested in hearing more about how RPS can help me with EGTRRA or create more value to my plan?