Principal’s Letter

The decision of whether to pay off a mortgage or increase retirement savings is a question that faces many reaching retirement. While there is no right or wrong answer, in this issue we look into the pros and cons of each choice.

Speaking of decisions, when does it make sense for a plan participant to consider an in-plan Roth rollover? Several factors, including age and tax bracket, will influence whether or not such a move makes sense financially.

You may recall an article last year regarding the U.S. Department of Labor’s initial Conflict of Interest Proposal. In his latest whitepaper, Pete Swisher takes a look at the final ruling to share his thoughts on the scope and potential impact of this announcement. For your convenience, we provide a link to Pete’s complete whitepaper.

IRS notice 2016-16 arrived earlier this year, providing relief regarding mid-year adjustments to safe harbor 401(k) plans. In Tax Talk, we take a look at the permissible and prohibited mid-year changes affected by this guidance.

In ABG News, we pay tribute to John Carnevale, President and CEO of Sentinel Benefits and Financial Group. John was a beloved member of the ABG team, and we mourn his sudden passing last April.

Your ABG representative is always available to discuss any questions or comments you may have. We are here to provide you with expert guidance, responsive service, and comprehensive solutions each and every day. Have a great summer!

Sincerely,

Carol M. Cochran, CPA/PFS, CEBS, CMA, CMS, THRP, CFC
Principal
ABG Southwest

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