http://www.Polycomp.net We define all expectations, then craft a custom plan tailored to every request. Our administrative consultants are easily accessible and personally responsible for your plan. We provide reliable, competent advice, adhere to a detailed quality control system, and maintain proactive client communication with regular service reviews. February 22, 2012 en http://www.Polycomp.net/News-and-Articles/View.aspx?id=23 2012 Contribution Limitations and Deadlines Announced on October 20, 2011: » IRA Limits and Deadlines » Qualified Retirement Plan Limits » IRS Announcement December 28, 2011 http://www.Polycomp.net/News-and-Articles/View.aspx?id=23 http://www.Polycomp.net/News-and-Articles/View.aspx?id=22 Congratulations to our 1st Quarter $100 Winners! ROSEVILLE WINNERTimothy M. Cary & Associates Defined Benefit Pension Plan WOODLAND HILLS WINNERJules S. Burg (IRA Client) SAN DIEGO WINNERSapper Construction Money Purchase Pension Plan   Thank you to those clients who returned a report card.  We value your feedback! At Polycomp, Feedback = A Chance to Win a $100 CreditWhy incentivize clients who return our "Report Card on Our Performance"?  Because our goal is to deliver performance.  And who knows better than our clients? At the end of each quarter, we draw one report card from each office.  The client who returned that report card is awarded with $100 credited to their invoice.   April 27, 2011 http://www.Polycomp.net/News-and-Articles/View.aspx?id=22 http://www.Polycomp.net/News-and-Articles/View.aspx?id=21 Beginning January 1, 2011 all Federal tax payments from qualified retirement plan distributions are required to be submitted electronically using the Electronic Federal Tax Payment System (EFTPS).  EFTPS requires businesses and individuals to submit Federal tax deposits via the website or by phone. » EFTPS Frequently Asked Questions (FAQs) EFTPS ENROLLMENT INSTRUCTIONSYou may have already received a notice from EFTPS regarding the enrollment of your plan.  If you HAVE received a notice regarding enrollment: Call 800.555.3453 to activate your enrollment. Enter your retirement plans' trust EIN and the PIN you received in the mail from EFTPS. Enter your financial institution information (including account number, bank routing number and account type). Enter the phone number of the person to contact in case of questions. This could be you or a member of your staff. Record the enrollment number you receive and keep for future reference. E-mail PSG@polycomp.net once your enrollment is complete. Begin submitting Federal income tax withholding online (www.EFTPS.com) or by phone! If you HAVE NOT received a notice regarding enrollment: Before you get started, make sure you have the following: Retirement plans' trust EIN (not the company's employer identification number). Financial institution information (account number, bank routing number and account type). Phone number of the person to contact in case of questions, and address and name as they appear on your IRS tax documents. Log onto www.EFTPS.com. Select “Enrollment” from the menu bar. Accept the “Privacy Act” disclosure. Elect to enroll as a “Business.” Follow the prompts and supply the requested information. Within 10-15 business days after completing the online enrollment you will receive a confirmation package in the mail from EFTPS which will include your PIN. Upon receipt of this package, call 800.555.3453 and follow the steps outlined above to activate your enrollment. WHO SHOULD I CONTACT WITH QUESTIONS? For questions regarding your EFTPS account or enrollment, contact EFTPS customer service at 800.555.4477. All other questions should be directed to our Participant Services Group at 800.952.8800 or PSG@polycomp.net. November 24, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=21 http://www.Polycomp.net/News-and-Articles/View.aspx?id=20 The contribution limits for retirement plans and IRA accounts remain unchanged for 2011.  » 2011 Limits and Deadlines for IRAs » 2011 Limits for Qualified Retirement Plans » IRS Announcement November 23, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=20 http://www.Polycomp.net/News-and-Articles/View.aspx?id=18   BACKGROUND   Effective September 27 of 2010, employer-sponsored retirement plans have the option to allow participants to convert pre-tax assets into a Roth account WITHOUT having to transfer the funds out of the plan and into an IRA.  This new rule is part of the Small Business Jobs and Credit Act of 2010 and applies to 401(k), 403(b), and 457 plans.  (The act also allows Roth accounts in 457 plans, effective for taxable years beginning after December 31, 2010.) BeforePrior to September 27, 2010, if a participant wanted to convert pre-tax assets to a Roth account they were required to first withdraw the money from the plan, then roll it into an IRA, and finally convert it to a Roth IRA.  AfterParticipants of plans allowing Roth conversions are able to convert pre-tax assets into a Roth program without withdrawing these assets from the plan!    THE FACTS   Eligibility   Participants age 59 1/2 or older may convert both employer contributions (profit sharing and matching) and their own contributions (salary deferrals). Participants of any age who have participated in the plan for at least 5 years, or whose money has been in the plan for at least 2 years, may convert employer contributions only. Another way to look at it: Employer contributions may be converted to Roth if the participant is either 59 1/2 or older, has participated in the plan for at least 5 years, OR the money has been in the plan for at least 2 years. Employee's own salary deferral contributions may be converted to Roth if the participant is age 59 1/2 or older OR they are no longer employed with the company. Plan AmendmentsIn order to allow in-plan conversions, the plan must have a Roth account that accepts Roth elective deferrals.  For this reason, an amendment will be required for plans not already permitting Roth deferrals by December 31, 2010.  For those plans already allowing Roth deferrals, the IRS intends to provide a remedial amendment period so employers can permit conversions in 2010 and have sufficient time to amend the plan to reflect the provision. Distribution OptionsWhile no actual distribution or other physical movement of assets will be required to accomplish a conversion, a plan that currently does not permit in-service or pre-normal retirement age distributions will have to add “distribution options” to facilitate these conversions. These options can be limited to Roth conversions within the plan. Income TaxesParticipants will generally owe income tax for the year in which the conversion occurs.  However, amounts converted in 2010 will be eligible for the special tax treatment that applies to conversions to Roth IRAs in 2010 - the taxpayer can choose to recognize the income in 2011 and 2012 instead of in the year of transfer.  Keep in mind, the ability to reverse the transaction if the timing of the conversion turns out to be bad is not available to in-plan Roth conversions, as it would be for similar IRA conversions. Next StepsYour financial and tax advisors can help you decide if Roth conversions are a good idea for you.  If you are a plan sponsor and would like to add this feature to your plan, contact a Polycomp Pension Consultant or your Polycomp Administrative Consultant.  We are here to help you! » Contact Us    |    » E-mail Us    |    » Find a Consultant   October 14, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=18 http://www.Polycomp.net/News-and-Articles/View.aspx?id=17 Congratulations to our 1st Quarter $100 Winners! ROSEVILLE WINNERCampbell-Krieger Profit Sharing Plan WOODLAND HILLS WINNERThe Flamemaster Corporation 401(k) Profit Sharing Plan SAN DIEGO WINNERClinical Physical Therapy, Inc. Profit Sharing Plan   Thank you to those clients who returned a report card.  We value your feedback! At Polycomp, Feedback = A Chance to Win a $100 CreditWhy incentivize clients who return our "Report Card on Our Performance"?  Because our goal is to deliver performance.  And who knows better than our clients? At the end of each quarter, we draw one report card from each office.  The client who returned that report card is awarded with $100 credited to their invoice.   October 14, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=17 http://www.Polycomp.net/News-and-Articles/View.aspx?id=16 Each quarter, for each office, we collect the report cards that have been returned and randomly pull one of the cards.  The client who sent in that report card is awarded with $100.  Congratulations to the winners and thank you to all who participated!  We value your feedback. ROSEVILLE WINNERCalifornia Loan & Jewelry Company, Inc. Profit Sharing Plan WOODLAND HILLS WINNERProgressive Land Clearing 401(k) Profit Sharing Plan & Trust SAN DIEGO WINNERPacific Parts & Control, Inc. 401(k) Profit Sharing Plan  May 20, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=16 http://www.Polycomp.net/News-and-Articles/View.aspx?id=15 Polycomp is in the news!  In the February 5, 2010 issue of the Sacramento Business Journal, we are listed in the #3 position of Retirement Plan Administrators in the Sacramento area.  The List   May 20, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=15 http://www.Polycomp.net/News-and-Articles/View.aspx?id=14   Did you know the government pays companies to set up new retirement plans?   It’s true - Employers with 100 employees or less, and who have installed a new qualified retirement plan, are eligible for a $500 tax credit!  Eligible employers can claim 50% of the first $1,000 (max $500 credit) of administrative costs for each of the first 3 years of the plan’s existence.  Other qualifications include: Must be at least one non-highly compensated employee (an employee who owns less than 5% of the company or an employee who earned less than $110,000 during the prior year) Employer must not have maintained a retirement plan in the 3 years prior to establishment of the new plan The plan must be a qualified employer plan such as 401(k), defined benefit, SIMPLE, and SEP plans  See complete definition on Form 8881.  Consult your Accountant before filing.   May 20, 2010 http://www.Polycomp.net/News-and-Articles/View.aspx?id=14 http://www.Polycomp.net/News-and-Articles/View.aspx?id=12 July 2009 Polycomp Trust Company (PTC) was launched on July 1, 2009 to serve as the Custodian for Polycomp’s self-directed IRAs effective August 1, 2009. Polycomp Trust Company is a state chartered non-depository trust company that is regulated by the South Dakota Division of Banking. Polycomp Administrative Services will continue to provide expert advice on administrative transactions with undivided loyalty to our IRA Holders. » Learn more about PTC June 17, 2009 http://www.Polycomp.net/News-and-Articles/View.aspx?id=12