Employee Benefit Plans

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SECURE 2.0 Act

February 8, 2023

The Setting Every Community Up for Retirement Enhancement, SECURE 2.0 Act of 2022, aims to improve retirement savings by making it easier for employers to offer retirement plans to employees and offers many changes for individuals. Here are some of the highlights of the Act.

Employee Benefit Plan Audit

January 26, 2023

An employee benefit plan audit is a periodic and independent examination of a company’s benefit plans that are subject to ERISA. If your company currently offers or plans to offer an employee benefit plan, read this article to learn about audit requirements.

Incentivize Employees with Stock Appreciation Rights

January 24, 2023

VIDEO: A solution to incentivize employees using stock appreciation rights might be a better solution than tying their compensation to the company's performance or using stock options. One way to do this is through stock options, but using stock appreciation rights might be a better solution.

2023 HSA Limits

January 5, 2023

HSAs have complex rules, but offer a flexible option for providing health care coverage and they may be an attractive benefit for your business.

2023 Retirement Plan Limits

November 9, 2022

The IRS has released the 2023 retirement plan limits. Tax year 2023 will contain a significant increase in contribution limits for employees participating in a 401(k) plan.

Solo 401(k) Nest Egg

October 4, 2022

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) to build a solo 401(k) nest egg for your retirement.

Overview and Benefits of a Stock Option Plan

July 21, 2022

VIDEO: A stock option plan can be used to align the interests of employees and shareholders, and attract and retain talented workers. This video will cover the basics of a stock option plan and how your company may benefit from having one.

HSA Amounts for 2023

May 9, 2022

The IRS recently announced the HSA amounts for 2023, which have been adjusted for inflation. High inflation rates will result in next year’s amounts being increased more than they have been in recent years.

Tax-Favored Retirement Plan

March 28, 2022

If your business doesn’t already have a retirement plan, now might be a good time to explore the benefits of a tax-favored retirement plan. Current retirement plan rules allow for significant tax-deductible contributions.

Required Minimum Distributions

December 29, 2021

Required Minimum Distributions (RMDs) are minimum amounts that you must withdraw from your IRA or retirement plan account each year after you reach age 72 (70 ½ if you reach 70 ½ before Jan. 1, 2020).

Establishing a Health Savings Account (HSA) for Your Employees

November 15, 2021

Establishing an employer-sponsored Health Savings Account (HSA) for your employees is a way to provide some tax-advantaged health care benefits. For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs.

Retirement Plan Savings Options for Small Businesses

April 12, 2021

If you want to set up a retirement plan for yourself and your employees, but want to avoid the financial commitment and administrative burdens involved in providing a traditional pension plan, you do have options.

Benefits to Attract and Retain Employees

April 6, 2021

VIDEO: Attracting and retaining great employees can be very challenging. While compensation is certainly important, your employee benefits package can be a powerful force in an employee’s decision. In this video, we cover benefits to help attract and retain great employees.

Olsen Thielen Celebrates 100 Years

March 9, 2021

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains. commitment to their clients and their community.

Magen Koepp Named to Top Women in Finance 2020

December 10, 2020

We are pleased to congratulate Olsen Thielen's principal, Magen Koepp, for being named a Top Women in Finance 2020 Honoree. Finance & Commerce has honored Minnesota’s Top Women in Finance each year since 2001.