Odyssey Advisors

06/17/2026

Can I contribute to a SIMPLE IRA and a 401(k) in the same year?

Yes, but not in the way that many people think.

One of the biggest misconceptions we see is that participating in both plans means you get two separate employee contribution limits.

You don't.

For 2026, your employee salary-deferral limit is generally shared across both plans, meaning your total contributions are capped at $24,500 before any applicable catch-up contributions.

For growing business owners, the bigger question is often whether it's time to move from a SIMPLE IRA to a 401(k).

A SIMPLE IRA can be an excellent starter plan, but as profits increase, many owners start looking for higher contribution opportunities. Thanks to SECURE 2.0, there might be more flexibility to make that transition than there was in the past.

Before making the switch, it's important to understand:

✅ When contributing to both plans is allowed
✅ How SIMPLE IRA termination rules work
✅ Mid-year replacement options under SECURE 2.0
✅ How contribution limits are affected during a transition year

We've broke it all down in our latest article written by Kurtis Thompson.

🔗 Read more: https://www.odysseyadvisors.com/insights/blog/can-you-contribute-to-a-simple-ira-and-401k-in-the-same-year/

06/01/2026

Today we're celebrating three of our awesome team members on their work anniversaries!

Kirby Prigioni, Marketing Analyst Extraodinaire
Luke Matchett, ASA, MAAA, ACA, Consulting Actuary Wizard
Cal White, Actuarial Consultant Guru

These three bring their own unique talents to the team, and we're grateful for the expertise, dedication, and impressive karaoke skills they bring to the table (don't worry, we won't share the videos from the last offsite... for now 😉).

Please join us in congratulating Kirby, Luke, and Cal on another year with Odyssey Advisors. We appreciate all you do and look forward to another great year ahead!

05/22/2026

This Memorial Day weekend, we remember those who gave everything — not just their service, but their futures, their families, their lives.

To the fallen, to the veterans who carry their memory forward, and to the Gold Star families who bear a weight no words can fully honor: we see you, we stand with you, and we are humbled by your sacrifice.

The freedom we live today was purchased at the highest possible price. We will not forget and we are forever grateful.

05/07/2026

It's National Small Business Week, and from one small business to the next, we just wanted to say — we see you.

You're wearing about 14 hats at once. Owner. Operator. Salesperson. HR department. Chief problem solver. And probably the last person on your own list.

Most business owners we talk to spend years pouring everything back into the company. And honestly? That's usually the right call.

But at some point the question pops up:

"Okay, but what am I actually building for myself?"

That's why we spend a lot of time talking with business owners about retirement plan strategy. Not just as a "save for someday" tool, but a way to create real tax advantages now, build your personal wealth outside the business, and give yourself options down the road.

For a lot of profitable small businesses, something like a Cash Balance plan paired with a 401(k) can be life changing. It's one of the most powerful (and underused) tools out there.

Because it comes down to this - you're working hard to build a great business that can weather the storms. Make sure you're building something for yourself too.

Happy National Small Business Week to every owner and entrepreneur out there. What you're doing is harder than most people know.

And a big thank you to the team that makes our small business possible. We couldn't do it without them.

05/06/2026

Traditional pensions are nearly extinct. So when we mention "pension plan," most people mentally check out and assume it doesn't apply to them.

But Cash Balance Plans are technically pensions too. And they're very much alive.

They're built for profitable small businesses and high-earning professionals, not your grandfather's company with 500 union employees.

Here's what that means in practice:

→ Contributions of $100k - $300k+ annually (depending on age and income)
→ Every dollar contributed is a tax deduction
→ Your money grows at a guaranteed crediting rate
→ Fully portable so it can be rolled into an IRA when you retire or exit the plan

We're actuaries. That means we don't just set up a plan and hope it works — we design, test, and certify it to make sure it's built correctly and stays compliant year after year.

If your business generates consistent profit and you're maxing out your 401(k) wondering "what else can I do?" ... this may be worth exploring.

Drop a comment or send us a message. We'll tell you in one conversation whether a Cash Balance Plan could make sense for your situation.

05/05/2026

Massachusetts municipalities, this is one to pay attention to.

Recent updates to tax title foreclosure procedures (following the 2023 Tyler v. Hennepin County Supreme Court decision) are changing how excess equity and foreclosure processes are handled.

We were presenting at a seminar with Thomas McEnaney, Esq. of KP Law on this topic and he shared a great presentation dealing with the key issues relating to:

✔️ New notice requirements in the foreclosure process
✔️ How "excess equity" must be handled
✔️ Sale vs. retention of properties post-judgement (including use of appraisers/agents)
✔️ Updated statute of limitations and interest considerations

Also worth noting:

MGL c.200A, §9A may allow municipalities to retain unclaimed funds instead of having them escheat to the Commonwealth.

We're not attorneys (and definitely don't play any on TV 😅), but this is an important shift. One worth reviewing with your legal team to make sure you're aligned with the new requirements.

If you're involved in tax title foreclosures, these are great resources to bookmark:

📄 Tax Title Foreclosure — New Requirements & Procedures (KP Law presentation):https://go.odysseyadvisors.com/l/65092/2026-04-22/jy53d5/65092/1776880981rWVvpIPr/Tax_Title_Foreclosures_New_Requirements_in_MA_Presentation_by_KP_Law.pdf

📄 KP Law's Tax Title Foreclosure Procedures Summary:https://go.odysseyadvisors.com/l/65092/2026-04-22/jy5hvc/65092/1776881128zqCdryTr/MA_Tax_Title_Foreclosure_Procedures_Summary__KP_Law_.pdf

As always, reach out to your counsel with any questions, but this is a good starting point to stay informed.

04/25/2026

Happy birthday, Kirby 🎉🎉

The brains behind our marketing, the keeper of the dashboards, and the one who keeps the rest of us on track.

We hope you have the best day!

04/16/2026

Believe it or not... actuaries can have fun too.

We spent a couple days in Washington D.C., with a few simple goals:

1. Culture
2. Planning & alignment
3. Have some fun

Safe to say.... we checked all three boxes.

It's always a good reminder that what we're building matters — but who we're building it with matters more.

And we've got a pretty great team.

04/10/2026

This weekend Odyssey is hitting the road ✈️

We're taking the entire team to Washington D.C. for our annual offsite next week.

A few days of strategy, big ideas, and probably too much coffee. We'll share some behind-the-scenes moments while we're there so stay tuned!

04/09/2026

OPEB funding isn't just "starting" anymore... it's gaining momentum.

More municipalities are building funding strategies, even if it's gradual. And in many cases, we're seeing the next phase take shape: post-pension funding.

As pension systems near full funding, attention is starting to shift. Because while pensions have dominated the conversation for years, OPEB is still one of the largest (and often least addressed) liabilities on the balance sheet.

Our 2026 OPEB Trend Report takes a closer look at:

✔️ Continued growth in pre-funding (with 90% of our clients now setting aside assets)
✔️ How stable bond rates and shifting return assumptions are impacting liabilities
✔️ The growing role of post-pension funding strategies

Even with some stability in the market, there's still a lot changing under the surface.

Now's a good time to step back, see where your plan stands, and understand how your approach compares to peers.

Take a look at the full report:

OPEB strategies are evolving quickly as municipalities respond to shifting discount rates, market volatility, and long-term funding pressure. Our 2026 OPEB Trend Report breaks down the latest data and highlights what’s driving decision-making across public entities.