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Pro Money Talk » 2007 » April

Archive for April, 2007

Interview - Sam Harding - Retirement Plans - Success Story 2 - Mike H.

Saturday, April 7th, 2007
 
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  • What would you be willing to do if you knew that you could save hundreds of thousands of dollars in income taxes while building a secure retirement? Would you be willing to invest a little time learning about the options available to you?In this episode of Pro Money Talk, we discuss retirement plans; how they work, the various types available, basic considerations in choosing a plan for a business, and some of the recent changes that have been enacted. Our guest is Sam Harding, a local Bay Area Pension Administrator with over 25 years’ experience in helping companies set up and administer retirement plans for their owners and employees.Our interview and discussion applies only to U.S. tax laws and provisions. The good news is that we’ve seen substantial improvements to the benefits available to participants in retirement plans, as the Government moves to provide more options and alternatives to supplement traditional sources of retirement income such as Social Security and company pension plans.
  • Show recorded in March of 2006; short follow-up interview recorded in January, 2007 to update for Pension Protection Act, passed in mid-2006, so the interview is a combination of two parts. The second part was recorded outdoors at a hotel where we were attending a professional meeting that Sam was a speaker at, so you’ll notice an obvious change in sound quality, but it still sounds clear.
  • The discussion does get technical; you’ll want to stop and replay certain segments to get a better understanding, but it’s well worth it.

Success Segment

This episode of Pro Money Talk provides a high-level introduction to the valuable tax-advantaged savings plans available to business owners in the U.S. Our expert guest is Sam Harding, an Accredited Pension Administrator (APA) with more than 25 years of experience in retirement plan consulting and administration for small to mid-sized businesses. If you’re in business (even if you’re the sole employee of your company), or if you’re thinking of starting a business, you need to know about these potent savings tools.

Our discussion provides a roadmap, including definitions, of various retirement plans with a focus on so-called “qualified plans” that offer the biggest benefits for business owners and employees.

Revised plan contribution limits. Automatic enrollment (companies can choose to opt employees in to 401k plans).

A handy pdf document comparing various types of retirement plans as well as their advantages and disadvantages may be found here.

Sam Harding is the founder and President of Retirement Administration, Inc., based in Los Altos, California. Sam is an Accredited Pension Administrator (APA). He has served a three-year term on the Board of Directors of the National Institute of Pension Administrators (NIPA), and is the past president of the Northern California NIPA Chapter. Sam brings more than twenty-five years of experience in meeting the retirement planning needs of small to mid-sized companies. More information about Retirement Administration, Inc., may be found here.