Trust your retirement plan development as well as your personal data with the retirement experts.

We often hear of data breaches with major corporations, even some whose main function is to protect your identity. How can you be sure your data is safe? EJReynolds would like to share with you the measures we take to safeguard the information we collect. Our cutting-edge cybersecurity commitment gives you the comfort and peace of mind that your information is always safe and secure.

How does EJReynolds handle and protect your personal information?

Our state-of-the-art cybersecurity program stems from our core principles of trust, integrity and ethics. We collect only the information necessary to enable us to consistently deliver the best products and services for our clients. We have implemented security standards and processes to ensure that access to client information is limited to your EJReynolds Plan Consultant.

Our Best Practice Cybersecurity Protocols Include:

–    Secure File Sharing with Citrix ShareFile^©

EJReynolds’ secure file sharing link provides a safe and secure way to transmit sensitive information online. This assures that files are sent and received with bank-level encryption. You will be required to register through ShareFile’s one-time enrollment process to send and receive files securely.

–    Networks Are Secured with State-Of-The-Art Advanced Firewall Security

EJReynolds’ Firewall Security system protects our computer network from being attacked online by hackers, worms, viruses, etc. It is designed to stop unauthorized access to the EJReynolds computer systems.

–    Internal Networks Are Completely Protected with Industry Leading Threat Protection

Advanced Threat Protection (ATP) helps to protect our organization from malicious attacks by:

• Scanning email attachments for malware
• Scanning web addresses (URLs) in email messages and office documents
• Identifying and blocking malicious files in online libraries
• Checking email messages for unauthorized spoofing
• Detecting attempts to impersonate users or organization’s custom domains

  –    Two-factor Authentication

EJReynolds implemented programs that require our Plan Consultants to use a two-factor authentication to protect our clients’ sensitive information. Once an EJReynolds employee logs into an account and enters their password, they receive a code via text or email at a pre-determined address. This code must be entered in a certain amount of time in order to access the account. This helps to ensure that any unauthorized attempts at drafts, distribution requests or other identity theft tricks are halted immediately.

–     Ongoing Training

Along with monthly training on the latest rules and regulations in the retirement plan area, each EJReynolds employee is required to complete a Phish Threat Security Awareness Training. Since the hackers are constantly changing their game, so must our defenses.

Our commitment to your security is just one more reason to trust your retirement planning to EJReynolds.

The Internal Revenue Service publishes, on a yearly basis, certain Pension Plan Limitations for the coming year.  We have outlined the most commonly applied limits for your reference.

 

Maximum Defined Contribution Annual Additions Limit: 

 

In a Defined Contribution Plan, which includes Profit Sharing and 401(k) Plans, the Internal Revenue Code sets limits on contributions made to a participant’s account.  The Code uses the term “annual additions” which represents both employee and employer contributions as well as reallocated forfeitures.  Effective January 1, 2020, the annual dollar limit for defined contribution plans increases to the lesser of 100% of compensation or $57,000.

 

Maximum Defined Benefit Limit:

 

Ultimate benefit that may be funded for at retirement.  Effective January 1, 2020, the annual dollar benefit under a defined benefit pension plan increases to the lesser of 100% of compensation or $230,000.

Annual Compensation Limit:

Effective January 1, 2020, the annual compensation limit increases to $285,000.

Compensation in excess of the limit will be disregarded for all computation purposes.

Key Employee defined for Top Heavy determination:

1. A 5% owner, without regard to compensation, or
2. 1% owner whose annual compensation is over $150,000, or
3. Officers with annual compensation in excess of $185,000.

Highly Compensated Employee (HCE) defined for 401(k) / 401(m) testing:

1. A 5% owner of an Employer or an Affiliate in the current or the immediately preceding plan year, or
2. Any employee earning more than $125,000 in 2019 ($130,000 for 2020)
3. Constructive ownership rules apply attributing ownership to spouses and lineal ascendants and descendants (parents, grandparents, children and grandchildren) of the owner in both of the above employee definitions.

Maximum Limit on 401(k) Elective Deferral Contributions:

A participant’s elective deferral contributions under all 401(k) plans in which he or she participates during any taxable year increases to $19,500 for the 2020 Calendar Year. 401(k) plans may permit participants who have reached age 50 by the end of the plan year to make annual catch-up contributions once the annual dollar limit or a plan-imposed limit on elective deferrals has been reached.  For calendar year 2020, the limit increases to $6,500.

Maximum Limit on SIMPLE 401(k) or SIMPLE IRA Deferral Contributions:

A participant’s elective deferral contributions under a SIMPLE 401(k) plan or SIMPLE IRA account in which he or she participates during the year is increased to $13,500 for the 2020 Calendar Year. Participants who have reached age 50 by the end of the plan year to make annual catch-up contributions once the annual dollar limit or a plan-imposed limit on elective deferrals has been reached.  For calendar year 2020, the limit remains at $3,000.

Taxable Wage Base:

The Taxable Wage Base for 2020 increases to $137,700.

Please call us with any questions you may have. To print out the 2019 plan limit EJReynolds report, click here.