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Types of Plans

  • 401(k) - A defined contribution plan that permits employees to have a portion of their salary deducted and contributed to a retirement account. Federal and state taxes on the employee contributions and investment earnings are deferred until the participant receives a distribution from the plan (typically at retirement). Employers may also make contributions to a participant's account.
  • Solo 401(k) - A 401(k) for self-employed individuals with no employees.
  • Profit Sharing - Company-sponsored plan funded only by company contributions. Company contributions are typically discretionary and may be determined by a fixed formula related to the employer's profits.
  • SIMPLE IRA/SIMPLE 401(k) - A type of defined contribution plan for employers with 100 or fewer employees in which the employer matches 100% of employee deferrals up to 3% of compensation or provides non-elective contributions up to 2% of compensation for all eligible employees. These contributions are immediately 100% vested, and they are the only employer contribution to the plan. SIMPLE plans may be structured as individual retirement accounts (IRAs) or as 401(k) plans.
  • Simplified Employee Pension (SEP) - A defined contribution plan in which employers have the discretion to make contributions directly into employees' IRA accounts.
  • New Comparability Plan - A profit sharing plan in which the employees are divided into groups, with each group receiving a contribution that is a different percentage of compensation. The simplest type of grouping is to have the owners in one group and all other employees in another group. Some employers have each employee in their own group thus providing maximum flexibility.
  • 403(b) or Tax Sheltered Annuity (TSA) - Provides a tax shelter for 501(c)(3) tax exempt employers (which include public schools). Employees qualifying for a TSA may defer taxes on contributions to certain annuity contracts or custodial accounts.
  • Non-Qualified Deferred Compensation Plan – Agreements by an employer to make payments to employees at a future date for services currently rendered.  This type of plan allows an employer to benefit only certain employees if they wish.  There is no contribution limit or testing requirement and all contributions grow tax deferred until the money is withdrawn.
Eployee Lising

For more information email info@dbbllc.com or call 315-471-9171 to contact:

Tina D’Agata
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Tina D’Agata

Tina is a Senior Manager at Dermody, Burke & Brown in the Retirement Plan Design and Administration department.  As an employee at the Firm for over fifteen years, her seasoned experience in the Industry allows her to efficiently design, prepare and administer retirement plans for a variety of clients.  Tina personally meets with clients and staff to discuss employee benefit options and assists the CPA Firm with their audits of employee benefit plans.  Tina is proactive in her retirement planning approach and attends educational seminars to keep abreast of the many changes that occur within the industry.

Tina is a graduate of Hartwick College and a leading member of Dermody, Burke & Brown’s Young Professional Committee and Wellness Committee.  She is a board member and Finance Committee member of the Gingerbread House of Syracuse, a board member and Secretary of the Thousand Island Park Cottage Owners Association, Inc., a member of the United Way of CNY Young Leaders United, and is actively involved with the Blessed Sacrament School.  Tina is a 2016 graduate of the Nourishing Tomorrow’s Leaders Program, designed to increase the diversity of not-for-profit boards and leadership in the Central New York area.  She is also a 2016 40 Under Forty Honoree.

Madelyn Hornstein, CPA, CEO
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Madelyn Hornstein, CPA, CEO

Madelyn has been with Dermody, Burke & Brown since 1983 and serves as the Firm’s Chief Executive Officer.  She focuses on setting the company’s future course through strategic growth, ensuring continued client success, and maintaining the personal relationships so vital to a successful Firm.  In addition to servicing a number of small businesses and high net worth individuals with their accounting and tax needs, Madelyn also heads Dermody, Burke & Brown’s Employee Benefits division.  She and her team provide design, set-up and on-going administration of retirement plans.  Madelyn ensures that the plans are compliant and also consults on a variety of employee benefit issues and individual retirement planning.

Madelyn is a graduate of SUNY Cortland and holds an MBA from Syracuse University.  She is a member of the New York State Society of Certified Public Accountants (NYSSCPA), the American Institute of Certified Public Accountants (AICPA), the Women Presidents’ Organization, and is on the Firm Management and Nominating Committees for Allinial Global. Madelyn serves as a board member for Dryden Mutual Insurance Company, Excellus Blue Cross Blue Shield’s CNY Regional Advisory Board, CenterState CEO and the WISE Women's Business Center. She is also involved with the Professional Advisor Council at Syracuse University.  She is a past Treasurer and Chair of the Finance Committee of the Central New York Community Foundation and continues to serve on their Professional Advisor Council.

Mary Beth Madlin
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Mary Beth Madlin

Mary Beth has been with Dermody, Burke & Brown since 1985.  As a Senior Manager of the Retirement Plan Design and Administration department, Mary Beth focuses on all facets of retirement planning from plan design to daily administration.  She specializes in managing define contribution plans and provides on-going administration of retirement plans for a range of clients.

Mary Beth also provides outside consulting services and reviews plan design, cost structure and administrative practices. Mary Beth is a graduate of Bryant & Stratton College and continues to shape her thirty-two years of knowledge in the industry by attending continuing educational seminars. 

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