RMS has become aware of a glitch in the IRS system that led to erroneous late-filing notices being issued for Form 8955-SSA last week. The IRS has stated that the glitch was fixed on August 23, 2023 but at that point letters had already been sent to plan sponsors. Understandably, the glitch has caused confusion and concern for several of our clients so we want to provide clarity on the situation. Form 8955-SSA is a required annual filing with the IRS reporting vested account balances of terminated participants. If you received a penalty notice, please contact us. We will work with you to provide the documentation and response to the IRS which will resolve this matter.
Retirement Management Services (RMS)
Financial Services
Louisville, KY 168 followers
RMS - Making complex, simple.
About us
Retirement Management Services is a nationally recognized, independent, fee-based consulting firm headquartered in Louisville, Kentucky. We provide design, administration and consulting services for many types of retirement plans, from Cash Balance plans to 401(k). We work with plan sponsors and financial advisors to ensure the retirement plan operates smoothly, while allowing flexibility in choosing investments and recordkeepers. We are approved by many national vendors and our client base is throughout the United States. Our clients range in size from one participant plans to companies with over 50,000 employees and they operate in a variety of industries. *Our highly trained staff and superior customer service has been the basis for our success for over 20 years. * All of our clients are serviced by a dedicated retirement plan service team that provides excellent service to the client and the financial advisor. * Our pension consultants answer technical questions, monitor the retirement plan, make recommendations based on the company’s needs and present alternatives when tax laws change or company demographics shift. * We offer a customized, Volume Submitter document. As an industry-leading retirement plan administration firm, RMS assists plan advisors and plan sponsors in meeting their unique plan design goals. Give us a call at 502-429-0767 if we can assist you with your retirement plan needs.
- Website
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http://www.consultrms.com
External link for Retirement Management Services (RMS)
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Louisville, KY
- Type
- Privately Held
- Founded
- 1997
Locations
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Primary
905 Lily Creek Road
Louisville, KY 40243, US
Employees at Retirement Management Services (RMS)
Updates
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This worksheet helps you determine what percent of pay to save for retirement. #retirementplanning
Retirement Savings Calculator
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The saver's credit is a nonrefundable income tax credit for certain taxpayers with adjusted gross income that does not exceed $76,500. #taxcredit #retirementplanning
Retirement Management Services
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Cash balance plans offer high contribution limits and flexibility. #definedbenefit #retirementplanning
Cash Balance Plans Explained - 2024
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The purpose of this outline is to compare a SIMPLE IRA with a safe harbor 401(k) plan --- especially for employers who must cover participants other than just the owners. #401kplan #retirementplanning
SIMPLE IRAs vs 401(k) Safe Harbor Plans: What are the differences? - 2024
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When designing a defined contribution plan, it is important to understand how the various types compare. #401kplans #retirementplanning
Comparing 7 Defined Contribution Plan Designs - 2024
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A SIMPLE IRA plan provides small employers with a tax-advantaged plan that offers simpler, less costly administration. #retirementplanning
The SIMPLE IRA Plan - 2024
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A SEP plan provides business owners with a simplified means of contributing to their employees’ retirement. #retirementplanning
The Simplified Employee Pension (SEP) - 2024
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A description of the 401(k) safe harbor rules, as well as, the advantages and disadvantages of this plan design option. #401kplan #safeharbor #retirementplanning
401(k) Safe Harbor Rules - 2024
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