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The January 2015 edition of “Your Trusted Source” featured the following topics:
- Ekon President, Keith Kowalczyk’s Quarterly Investment Watch Newsletter
- The Multiemployer Pension Reform Act of 2014 (MEPRA) was signed into law in December 2014 as part of a larger government funding bill. While some changes to the multiemployer pension system were anticipated due to the sunset of certain pension provisions under the 2006 Pension Protection Act and the deteriorated financial condition of the Pension Benefit Guaranty Corporation (PBGC), the extent of the changes in MEPRA caught many by surprise.
- With retirement decades away for young professionals, saving for those golden years may not seem like a top priority. Coupled with copious amounts of student loan debt and vivid memories of the financial crisis, it may be no surprise that many Millennials, the generation born between 1980 and 2000, are not saving enough to secure a successful retirement future.
Check out the January “Your Trusted Source” for these topics and more.
Trying to find a previous “Your Trusted Source” newsletter? You’ll find it in our archive.
On October 23rd, the Internal Revenue Service, IRS, released the 2015 Cost of Living Adjustments, COLAs, which place dollar restrictions on 401(k) plans, pension plans, and other retirement savings vehicles. The prior day, the Social Security Administration, SSA, released a press release containing the 2015 COLAs for Social Security Benefits and Federal Insurance Contributions Act (FICA) tax used to fund Social Security and Medicare. The annual COLAs are based on the cost-of-living index. Many limitations will increase for 2015 because the increase in the cost-of-living index met the statutory thresholds, triggering an adjustment. The 2015 Cost of Living Adjustments are effective January 1, 2015.
Read “2015 Cost of Living Adjustments Announced” on our website to learn the 2015 COLAs pertinent to your plan and access a historical chart of Cost of Living Adjustments over the past five years.
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Ekon Benefits - Your Trusted Partner
Founded in St. Louis, Missouri in 1981, Ekon Benefits has been specializing in the administration and consulting of employer sponsored retirement plans for over 30 years.
We pride ourselves on providing timely, accurate retirement services that are comprehensive and customized to your needs. Our associates are knowledgeable and bring an average of more than 14 years of experience, with extensive experience in all types of qualified plans including Defined Benefit actuarial services, 401(k) recordkeeping and compliance, ESOP accounting, and 403(b) and 457 Plan administration.
The name Ekon Benefits unifies our service lines under a common name and message. Ekon, meaning trust in Polish, speaks to our founder’s ancestry, as well as our goal of being your trusted partner for retirement plan design, administration and consulting.
4940 Washington Boulevard
St. Louis, Missouri 63108
866-871-6356 toll free
Ekon Benefits, your Trusted Partner for Retirement Plan Administration and Consulting