Making The Most Of Your 401(k) Plan — The Path To A “Back Door” Roth IRA

While most of us will never see a pension, the IRS has been expanding the opportunities for retirement savings using your 401(k) plan. Initially, there was only the opportunity to defer some of your salary into the plan in pre-tax dollars. That would allow the contribution — including the amount that would otherwise be paid in tax — to increase due to investment experience and allow the earnings to compound over the life of the account. Many employers tie the company contribution to the salary deferrals — offering a match — so that electing to defer salary results in an effective “return” on the contribution before it is even invested — essentially “free money.”

Why A Cafeteria Plan Still May Be The Best For You

Before there were HDHPs (High Deductible Health Plans) and HSAs (Health Savings Accounts), the only way to pay for out-of-pocket medical expenses in pre-tax dollars was through a “Cafeteria Plan” – a special tax provision of IRC Section 125 sometimes referred to as a Flexible Spending Account or FSA. If you’ve been offered an opportunity to participate, this may be your best choice.

IRS Modifies Cafeteria Plan Rules Important Changes For Employers & Employees

The IRS has issued a new Notice that may help employees who would benefit by being covered for health insurance under an exchange rather than under their employer’s group health plan. Enrollment in an exchange plan is not available to those covered under an employer plan.

HIPAA AuditsNet Millions In Fines
Are You In Compliance?

If your business involves health care, or services to health care providers, you may not be sure if you could pass a HIPAA audit. On May 7, 2014, the US Department of Health & Human Services (HHS) announced that it had levied a fine of $4.8 million against Columbia University and New York and Presbyterian …Read More

Supreme Court Ruling On Spousal Rights Raises More Benefits Questions For Employers

Guidance Needed From Federal Agencies The Supreme Court’s decision in United States v. Windsor finding Section 3 of the Defense of Marriage Act (“DOMA”) unconstitutional has implications in many facets of law beyond domestic relations. That Section of DOMA defined “spouse” as “only a person of the opposite sex who is a husband or wife” …Read More

Eight Strauss Troy Attorneys Recognized As 2013 Super Lawyers® and Rising Stars®

Strauss Troy congratulates its six attorneys who were recently named 2013 Ohio Super Lawyers®. Cincinnati attorneys named are: Claudia Allen, Anthony Barlow, William Flynn, James Heldman, R. Guy Taft and Richard Wayne. Three of these Super Lawyers (Ms. Allen, Mr. Heldman, and Mr. Wayne) have the unique distinction of being named to this prestigious list …Read More

401(K) Plan Fee Disclosure Requires Closer Look By Employers

Employers sponsoring 401(k) plans have been hearing from their investment advisors about “fee disclosures” that have to be given to plan participants who choose their own investments in the company plan. The goal of these IRS regulations, now effective July 1, 2012, after having been delayed several times, is to arm investors with information about …Read More