Some thoughts to consider when choosing a service provider:

• Are the fees reasonable, and have they always been reasonable?  Do you receive surprise billing?
• Is having local contacts important to you?  Do you have to fit your phone calls into your service provider's time zone?
• Who will be performing the work on your account and who will be your direct contacts?  Is your data being outsourced to multiple locations without your knowledge?  Do you have to call multiple numbers? 
• Does your service provider engage in multiple lines of business, thereby stretching their focus thin, or do they focus exactly on the service that you are looking to engage them with?
• Do they charge you a fee (up to $1,000) simply for terminating their service agreement when no work is required of them?
• Do they stand on their own merits or do they attack their competitors in order to gain client loyalty?

Any questions you might have, please do not hesitate to contact me at 808-5500-080 or Lila at 808-754-2747 or contact me below.

A bill has been introduced to increase the automatic cashout limit for terminated participants from $5,000 to $8,000.  Hawaii5500 will keep you updated.

Stay tuned for updates regarding the recently passed SECURE Act as well as Hardship Withdrawal Amendment requirements.

For 2019:

• Maximum 401(k) = $19,000 (increased from $18,500)
  
• 401(k) catchup (if over age 50) remains the same at $6,000
  
• Maximum 401(k) + catchup = $25,000 (increased from $24,500)
  
• Maximum 401(k)/Profit Sharing Plan contributions = $56,000 (increased from $55,000)
  
• ===> Maximum 401(k)/Profit Sharing Plan contributions including catchup = $62,000 (increased from $61,000)
  
• Maximum Compensation for Plan Years beginning in 2019 = $280,000 (increased from $275,000)
  

Please email me for a complimentary ticket to upcoming SHRM Hawaii Annual Conference on Leading Workplace Excellence on October 12, 2018.  This is better than a Coupon Code!

It's the 5th of the Month so it's 5500 Day.

Having just hit my one year anniversary as Hawaii5500 LLC, here are 5 thoughts:

1.  Mahalo to my clients and referral sources who have continued to do business with me and refer new business to me

2.  Please remember to exclude social security numbers from unencrypted files and emails

3.  Have you reviewed your retirement plan related fees for their reasonableness?

4.  Wrap Plan documents for health and welfare benefit plans have multiple purposes.  Contact me if you'd like to learn more.

5.  Finally, mahalo to past mentors and role models who have helped me (sometimes inadvertently) get where I am today to be able to provide compliance services to my clients

It's the 5th of the month, so it's....5500 day!

The constant rains this year have finally slowed down.  Please let me know if you'd like to walk 5500 steps either through Kalihi, Downtown, Kaneohe, Kailua, Ka Makana Ali`i or anywhere of your choice.

The Hawai`i Community Foundation provides opportunities to support victims of the recent flooding on Kauai and in East Oahu, as well as the ongoing victims of the current eruption on the Big Island of Hawai``i.

Hawaii Community Foundation

It's the 5th of the month, so it's....5500 day!

Contemplating the middle two numbers, ie '50' today and thinking about my 50th birthday at some future date.  What would you, or did you, do for your 50th birthday?

Usually a retirement plan participant who must receive their first RMD for the prior year has until April 1 of the next year to take it. Unlike 5500's, whose due dates are pushed until Monday if the deadline falls on a weekend, the April 1 RMD deadline is pushed earlier to precede the weekend.
If you have questions on who is due to receive an RMD, please contact me.