IRA Contributions

Retirement planning is an essential financial discipline that Atlanta area individuals need to focus on throughout their career. While there is no shortage of retirement saving approaches, very few are as effective and utilized as employer-based retirement plans. In fact, the U.S. Department of Labor (DOL) found that ERISA covered plans offer higher contribution limits, lower investment management costs, enhanced regulations such as financial reporting and disclosure requirements and automatic enrollment features. Unfortunately, many small businesses struggle to offer employees a plan because of the associated costs. Unfortunately, this leaves employees without a vital retirement savings tool. To address the situation, the DOL recently issued a new final rule which makes it easier for small businesses to participate in multiple employer plans (MEPs).

Many Atlanta business owners and individuals may have heard the alarming news that Capital One’s systems were compromised leaving sensitive data exposed. It was reported that information on 100 million US customers was compromised from credit card applications (both small businesses and individuals) submitted between 2005 and early 2019. Information such as names, address, social security numbers, income information, phone numbers, and emails was exposed. It also appears that information on credit scores, limits and balances were also taken. The FBI has formally pressed charges against the suspected perpetrator who is believed to have acted alone. This situation has left many wondering what steps they can take to determine if they were impacted and how to protect themselves.