SilverBlog

Wisdom from our industry experts and our SilverLink magazine.

 
 

Blog Tag: SilverLink

On December 20, 2017, Congress enacted a far-reaching tax reform package called the Tax Cuts and Jobs Act (“the Act”). The good news is that the current law permitting nonqualified deferred compensation plans (NQDCPs), including Code Sections 409A and 457, was preserved. Many of the Act’s provisions affecting individual taxes are not permanent and are scheduled to expire after December 31, 2025, unless a future Congress acts to extend those provisions.

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Hurricanes.
Cyber attacks.
Flash floods.
Mass power outages.
We live and work in a world where catastrophic events happen and businesses are forced to close down for days, weeks, months – sometimes longer. To avoid a massive loss that could permanently close your doors, you need a solid disaster recovery plan.

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Clients often ask us how they can lower their property and casualty insurance premiums. Some feel these costs are semi-fixed and out of their control. Many believe the best time to get lower premiums is during their annual renewal, but there’s more to it than shopping for a bargain price on insurance once a year. The best place to start is with a comprehensive business risk assessment.

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Does your workplace safety program include an incentive structure? Employers have been using them for years to encourage safe behaviors and reduce violations, injuries and accidents, but recent Occupational Safety and Health Administration (OSHA) memos have left employers confused about the compliance points related to these programs.

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After college and four years in the Navy, I returned to Nelson Insurance Agency in 1965. The Firm my father and mother started in 1945 had grown  to 10 Associates. Those early years had been a struggle against established local competitors. My father’s  education as an attorney had given him a technical mind, and that, coupled with his dynamic personality, allowed him to find unique solutions to clients’ insurance needs.

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Looking to hire a new employee? An accurate job description serves as a great starting point to find and hire the right worker for an open position. But if you’re only using it for hiring, you might be missing out on some of the best applications for this useful resource.

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Consider a worker who is 55 and making $50,000 per year. He plans to retire at age 67, at which time Social Security could make up 43% of his retirement income. Assuming he can live on 75% of his pre-retirement income, he would need to make up an additional 32% in retirement savings.

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How do you typically start your work day? For most, checking e-mail is an early-morning ritual (sometimes before they even get out of bed). We are fortunate to work in a world of rapid, electronic communication. It helps us get the job done faster. While e-mail may provide us with a quick and easy way to communicate, it also provides cybercriminals with a quick and easy way to target unsuspecting victims.

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The Internal Revenue Service (IRS) recently prescribed new mortality tables for purposes of calculating minimum required contributions according to Internal Revenue Code (IRC) Section 430 and minimum lump-sum amounts under IRC Section 417(e)(3) for qualified single employer pension plans. These regulations are applicable for plan years beginning in 2018. The prescribed tables include an update of the base mortality table to the RP-2014 tables, as well as an update of the improvement scale to the MP-2016 scale.

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Summer has a distinct sound – hamburgers sizzling on grills, music playing at outdoor festivals and bats crashing into baseballs. You’ll also likely hear the crack of thunder, the howl of strong winds and the clink-clink-clink of hail (probably bouncing off your roof or car). Inclement summer weather is unavoidable in many areas of the country, and people are often left with a sinking feeling as they are forced to listen to their homes and automobiles weather a severe storm. If you’ve ever experienced this, your first thoughts were probably about the deductibles on your homeowners and auto insurance policies.

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