Author - BTA Advisory Group

5 Essential Money Moves For Generation X

I re-read the article below and was struck again by the authors ability to provide real and solid advise on how to strike balance between the debts and obligations of generation x and preparing for the future, namely retirement. The “sandwich generation” will be well served by taking many of the authors points to heart. My favorite and the first one she makes is: Pay yourself first by skimming retirement savings off the top of your paycheck before whipping out [...]

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Mistake #11

November 2017 Mistake: The plan was top-heavy and required minimum contributions weren’t made to the plan. Fix the Mistake: Properly contribute and allocate the required top-heavy minimum, adjusted for earnings, to the affected non-key employees. Monthly BBQ Recipe  Monthly Beverage Recipe Sazerac Ingredients 1 teaspoon sugar 3 or 4 dashes Peychaud’s Bitters A few drops of water 2 ounces (60ml) rye whisky, such as Sazerac Rye 1 teaspoon Herbsaint, Pernod, pastis, or absinthe 1 lemon peel Directions Chill an Old Fashioned glass or small tumbler in your freezer. In a mixing glass, combine sugar, Peychaud’s Bitters, and [...]

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Mistake #10

October 2017 Mistake: Hardship distributions weren’t made properly. Fix the Mistake: Amend plan retroactively to allow for hardship distributions. If impermissible hardship distribution, have participant return hardship distribution amount plus earnings. Monthly BBQ Recipe  Monthly Beverage Recipe Tom Collins Ingredients 2 ounces (60ml) gin Juice of 1/2 a lemon 1 teaspoon sugar (preferably superfine) Chilled club soda Directions Add gin, lemon and sugar to a Collins glass and stir to dissolve sugar (you can instead use simple syrup and make the process easier). Fill glass with large chunks of ice and top with chilled [...]

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Mistake #9

September 2017 Mistake: Participant loans don’t conform to the requirements of the plan document and IRC Section 72(p). Fix the Mistake: You may correct some failures by corrective repayment and/or modification of loan terms. Monthly BBQ Recipe  Monthly Beverage Recipe Pisco Sour Ingredients 3 ounces (90ml) pisco 1 ounce (30ml) fresh=squeezed lime juice 3/4 ounce simple syrup (see note*) 1 fresh egg white 1 dash Angostura or Amargo bitters Directions Combine pisco, lime, simple syrup, and egg white in a cocktail shaker without ice ans seal. Shake vigorously until egg white is foamy; about 10 seconds. [...]

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Mistake #8

August 2017 Mistake: You haven’t timely deposited employee elective deferrals. Fix the Mistake: Usually corrected through DOL’s Voluntary Fiduciary Correction Program. You may also need to correct through the IRA correction program. Deposit all elective deferrals withheld and earnings resulting from the late deposit into the plan’s trust. Monthly BBQ Recipe  Monthly Beverage Recipe Daiquiri Ingredients 1 ounces (60ml) light rum (you can also use gold rum, but dark rum can be too heavy). 3/4 ounce fresh-squeezed lime juice (about 1/2 of a lime) 2 teaspoon sugar Directions Pour sugar and lime juice into a [...]

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