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shERPA

Now I really feel old...

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Had an exchange with an employee today - a client's CPA referred to a client's "Keogh" plan.   Our administrator didn't know what that term meant.  

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That may not be a bad thing.  It was sometimes tricky dealing with participants (professional partnership members) to make them understand their Keoghs were not somehow magically excepted from the 401(k) rules.

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Oh yeah, it is a good thing, no disparagement of our administrator intended.  

There's no reason to clutter up current rules with ancient outdated stuff from the past and younger people in the business wouldn't hear it unless talking to someone of a certain age.  Just makes me feel old.  Like the time an employee asked how you use a typewriter. 

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2 hours ago, Belgarath said:

I'm officially "old" but I don't get the BPH reference? 

I've only ever heard it as meaning "enlarged prostate." 😇

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The "B" is "benign" but I think that is soft-pedaling it even though technically it distinguishes the condition from more scary alternatives such as cancer.  Be content (and continent) in your ignorance.

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