Thursday, December 13, 2012

Optimizing Social Security Retirement Benefits - How Many Thousands of Dollars Will You Leave on the Table?

What if you discovered that what you don’t know about Social Security could result in your walking away from potentially thousands of dollars of additional income?  It happens to others, literally every day.

Multiple options, many of which are not common knowledge, are often available, especially for married couples.  Special options may come into play if you were previously widowed or divorced.  However, if you don’t know about these options you cannot consider them: making informed decisions could help you and your spouse avoid losing thousands of dollars of income to which you might otherwise be entitled.

Peter Weinbaum has agreed to discuss how to optimize your Social Security retirement benefits from 12:30 - 2:00 on Saturday, January 26, 2013, prior to the SBCA Annual Meeting at the Grand Floridian Resort and Spa, in Orlando, Florida.   Peter, long time SBCA Board Member and recognized expert on maximizing Social Security benefits, will open your eyes to the risks and opportunities surrounding Social Security claiming decisions.  


When Peter Weinbaum presented his recent Social Security webinar for the SBCA on September 20 we had more than 50  lines open.  The comments we received were replete with words like “terrific,” “excellent,” “great,” and “very informative.”  Some who attended the webinar ended up retaining Peter to do analyses of their own Social Security retirement benefits.


A month later – during the same week that Hurricane Sandy hit Philadelphia – Peter received rave reviews for his presentation of similar material to 40+ insurance agent clients on the evening of November 1 and to 95 attorneys and CPAs the next morning.  (Actually 150 attorneys and CPAs had signed up prior to the storm, but a third of them had to cancel.) 


Now Peter has agreed to present his seminar from 12:30 - 2:00 on Saturday, January 26, 2013, prior to the SBCA Annual Meeting.  This will be an updated version of the presentation with some new case stories.  The material is compelling, and you are almost guaranteed to learn something new even if you heard the SBCA webinar.  We anticipate that there will be more opportunity for interchange than there was in the webinar format.


If you are interested in attending this session, please let Leanne Redstone or me know as soon as possible so that we'll be able to book the correct size room.   This valuable session with Peter is free to SBCA members.  If space is available, people who are not SBCA  members can attend for a $35 fee.   If you have any questions, please feel free to contact us. 

Monday, November 19, 2012

Small Business Qualified Retirement Plans

"The data clearly demonstrates that the most effective way for people to save is through payroll deduction – in fact, it is almost the only way people save.  Employees are far more likely to save in a 401(k) plan than in any other vehicle, including an IRA." 

Tuesday, July 10, 2012

Supreme Court Decision on Health Care - What an Employer Needs to Know

Tuesday, July 17, 2012, 12:00 PM - 1:15 PM EDT
Get your SBCA Webinar "seat" now at:

In the wake of the Supreme Court upholding the Health Care Reform law, now is the time to analyze the decision, consider its impact on the upcoming election and discuss what employers need to know in order to comply with the law. We have a great panel - Gary Kushner and Al Martin will be discussing how companies can comply with the law.  Brad Knox and Paula Calimafde will discuss the likely political ramifications of the Supreme Court Ruling.  Brad, Al and Paula will briefly explain the decision.  Ron Waldheger will discuss potential long-term problems of our health care system, including the impact of Medicare's projected financial deficit.  We'll have a 15-minute section devoted to Q & A. The webinar is free to SBCA group members and $35.00 for non-members. Please mail a check to SBCA:

Charlie Johnson
PO Box 4299
Columbus, GA  31904

After registering you will receive a confirmation email containing information about joining the Webinar.

Tuesday, June 5, 2012

SBCA Presents Award to Senator Hagan

Senator Hagan with SBCA Directors Sam Gilbert and Brad Knox. David Beaudreau, Matt Brien and Lucas West of D.C. Legislative and Regulatory Services and Elizabeth Fox of Aflac also attended the presentation.
Washington, D.C. - U.S. Senator Kay R. Hagan (NC) today, in the middle of National Small Business Week, was honored with the Small Business Council of America's 2012 Congressional Award. Senator Hagan, a member of the Committee on Small Business and Entrepreneurship, was recognized for her significant efforts on behalf of small businesses.

"I'm honored to receive this award for my work supporting small businesses in North Carolina and around the country," said Senator Hagan. "Small businesses are the engine of our state's economy, representing more than 98 percent of North Carolina's private sector employers and nearly half of our state's jobs. I will continue working to ensures small businesses can expand and create jobs."

"On behalf of the Small Business Council of America, I am honored to present Senator Kay Hagan with the Small Business Council of America's 2012 Congressional Award," said Paula Calimafde, Chair of the Small Business Council of America. "We are proud to present this award to Senator Hagan for her significant efforts on behalf of small businesses across the country. We acknowledge her dedication to small business and her understanding of the economic, tax and employee benefit problems facing small businesses today."

Check out NC Senator Kay Hagan's Page.

Wednesday, February 22, 2012

MEP Rules and Regulations

The Multiple Employer Plan  (MEP), a retirement plan consisting of several  employers, has been  around for decades. A retirement or other type of plan that is adopted by two or more employers  who are members of  a control group or an affiliated service group  is treated as a single employer plan due to the close relationship of those employers. A   MEP  is a retirement plan adopted by employers who are not related for income tax purposes. 
Historically,  MEP  retirement plans have been adopted by employers with some common association, such as members of a trade association or co-op.  Recently, a new type of  MEP  is being promoted by several organizations. This type of MEP  is known as an "open MEP"  because it is adopted by employers who are not related for income tax purposes and have no other relationship other than being  adopting employers of the MEP retirement plan.  The plans are promoted as a cost-saving alternative, which also allows the employer to avoid ERISA fiduciary responsibilities.  In reality, the MEP may or may not save money, and the employer's fiduciary liability and responsibilities cannot be eliminated.

There is a conflict between the guidance by the IRS and Department of Labor as to multiple employer plans.  There are also many open questions with respect to MEPs  on which there has been no legally binding guidance.  Some of the MEPS being promoted may not be legal, which puts the adopting employers at jeopardy for a variety of sanctions. This paper discusses the MEP requirements generally and the "open MEP" in particular.  Among other things, it contains a list of due diligence questions in the employer considering an "open MEP" should ask.  It also discusses the risk that an adopting employer undertakes when it becomes a participant in an "open MEP."

Overland Park, Kansas