Blog

A Cash Balance Plan is a type of defined benefit plan that defines the benefit in terms that are more characteristic of a defined contribution plan, such as 401k. A cash balance plan defines the promised benefit in terms of a stated account balance.

Read More >

In the year 2019, congress passed the SECURE Act, one of the many changes that allowed long-term, part-time (LTPT) employees to join 401(k) plans starting January 1, 2024.

Under this long-term, part-time employee rule, part-time employees who work at least five hundred hours, during three consecutive 12-month periods, must be eligible to participate in the plan for purposes of elective deferrals (employee funds only). The 12-month period began as of January 1, 2021, however the first time an employee could become eligible under this rule is January 1, 2024.

Read More >

This On Deck Session with Michael Gorelick, our own President and Senior Pension Consultant here at Benefit Equity Inc., is filled with important information that has established BEI as the go-to Third Party Administrator.

Read More >

Benefit Equity, Inc. (BEI) was proud be a sponsor of the SmileMakers Evening of Comedy Event, benefitting the Council of Aging – Southern California. This laughter-filled evening raised $310,000 and will support the SmileMakers Holiday Gift Program and Council on Aging - Southern California. Michael Gorelick, BEI President, and his wife Lisa attended and were delighted to see attendance at an all-time high, with over 300 individuals participating this year. The event was held at the Renaissance Hotel in Newport Beach and comedic headliners included Paul Reiser and Fritz Coleman.

Read More >

Last month, Benefit Equity Inc. hosted the firm’s sixth annual golf tournament, where over 15 sponsors and 60 players (that included 40 financial advisors), enjoyed a great day of sport, catching up with friends, and networking. 100% of all the proceeds went to benefit Council on Aging—Southern California.

Read More >