Blog

Tuesday, November 13, 2018

6 Steps for Creating a Fee Review Process Formalize your fee policy Take inventory of fees and services provided Evaluate fees vs. services provided Develop a benchmarking strategy Prepare for creating a participant inquiry process...

 

Friday, November 9, 2018

The IRS has announced the 2019 contribution and benefit limits for 401(k) and other qualified plans. Highlights include: •The 401(k) and 403(b) Maximum Annual Elective Deferral Limit has increased to $19,000 •The Catch-up...

 

Tuesday, October 16, 2018

It’s hard to believe we are in the home stretch of 2018 and it is now time to start planning year end and looking forward to 2019. We have provided a Plan Sponsor’s Outlook Calendar below, that will outline some key house...

 

Wednesday, October 3, 2018

Now that you know what some of your responsibilities are and why they are important, let’s talk about how to deliver on them. One – Document Your Decisions Ideally, you set up a due diligence file when you established your...

 

Wednesday, September 19, 2018

When it comes to investing for retirement, it’s up to you to decide how to manage your plan Your company offers a major benefit through its retirement plan — a powerful vehicle that helps you save. It’s up to you to...

 

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Friday, September 7, 2018

Did you know that a Safe Harbor 401(k) plan is not actually a separate plan from the traditional 401(k), rather it is an optional provision that can be added to the 401(k) plan document? Electing to be a Safe Harbor 401(k) plan is...

 

Friday, September 7, 2018

The deadline to start a new Safe Harbor Plan is fast approaching. Please act now! For the right company, a Safe Harbor 401(k) Plan offers real advantages over a traditional 401(k). Most importantly, Safe Harbor Plans make it possible...

 

Wednesday, September 5, 2018

It’s no secret that human resources professionals and CEOs have a lot going on. Each day, they are pulled in many directions, from managing health benefits to recruiting employees. As plan sponsors they may find it more difficult...

 

Wednesday, August 29, 2018

The shift away from traditional pension plans means today’s employees are largely responsible for their own retirement security. Yet many seem to long for the “good old days,” at least in the sense of knowing they...

 

Monday, August 13, 2018

As an employer, you face a challenge: attracting and retaining the right talent necessary to drive your business forward. At the same time, you likely feel a responsibility to help your employees reach retirement financially prepared....

 

Thursday, May 10, 2018

Missed Tuesday's Webinar? Don't sweat it. Here is a recap of information that was covered. Is your company’s retirement plan helping employees save adequately for the future? Are older workers retiring in a timely manner to make...

 

Wednesday, May 9, 2018

2018 Retirement Trends to Watch In-plan spending strategies becoming more important Among retirement industry trends to watch in 2018, along with how to save money in a 401(k) plan and other retirement accounts, is how to spend those...

 

Wednesday, May 2, 2018

DOL Update: Increased Civil Penalties In January, the DOL announced further increases to several civil monetary penalties that can be assessed against employers for not complying with the DOL rules. These increases are applicable for...

 

Friday, April 20, 2018

It’s not simply a matter of working harder; it’s much more about using your non-financial skills and talents in new ways to bring you prosperity and a greater sense of personal satisfaction. Here are five tips to follow...

 

Friday, April 13, 2018

The dust hasn’t yet settled, but a few things about the new tax law seem clear. Employees will likely begin to notice a difference in their paychecks as early as February, and some projections put the average worker’s...

 

Wednesday, April 4, 2018

How serious is the problem of financial stress? Seventy - Seven percent of Americans live paycheck to paycheck ,1 41% give themselves a C, D, or F in personal finance,2 according to citations in a recent white paper from Financial...

 

Thursday, March 22, 2018

Dreaming of a Royal Retirement? With the upcoming Royal wedding due to take place on May 19th, 2018, it has many people dreaming of what it would like to by royalty. While this might not be in the cards for most, a royal retirement can...

 

Wednesday, March 7, 2018

Year- End Testing Often Requires Corrective Action Each year, 401(k) plans must pass a series of compliance tests to ensure that the company owners and key personnel are not benefitting disproportionately compared to lower paid...

 

Thursday, March 1, 2018

Are you considering sponsoring a retirement plan for your employees? Perhaps you already sponsor a plan and would like additional help making decisions, such as choosing the best investments for your participants and their...

 

Wednesday, February 21, 2018

Many Plan Sponsors are overwhelmed or unaware of the duties required of them as Plan Fiduciaries. Navigating through mounds of paperwork trying to unscramble what their responsibilities are, what their actual fees are, and how their...

 

Thursday, February 15, 2018

Raise Your Retirement Plan Fee IQ As a plan fiduciary, you have a responsibility to ensure that the services provided to the plan are necessary and that the cost of those services is reasonable. To fulfill that important duty, make...

 

Wednesday, February 7, 2018

Federal tax law requires retirement plan participants to begin taking required minimum distributions (RMDs) when they reach age 70½. December 31 is the deadline by which RMDs must be paid out each year, except for the first...

 

Friday, February 2, 2018

When the fee disclosure rules were announced a few years ago, part of the discussion was an increase in spending by the IRS to make sure plans were complying. Is the IRS still focusing on employer sponsored retirement plans? The IRS...

 

Wednesday, January 24, 2018

How do you know if you are a Plan Fiduciary? If you are not sure, or even if you think you are not, chances are you might be. The easiest way to check is to look at your Plan’s 5500, Plan Document, Service provider agreements. If...

 

Tuesday, January 16, 2018

In general, women need more and save less money for retirement than do men. Overall, women accumulate less money for retirement than men, yet because they have a longer lifespan, the need for savings is greater. And because men die...

 

Thursday, January 4, 2018

Americans pride themselves on making their own decisions, and when to retire is an important one. But it takes money to retire, and the shift away from traditional pension plans leaves many Americans ill-prepared to retire when they...

 

Wednesday, November 29, 2017

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy: Yes, the biggest mistake is having no strategy at...

 

Monday, November 13, 2017

Five guidelines to use when selecting funds for your plan When you participate in a 401(k) plan at work, or a 457 or 403(b) plan if you work at a non-profit or government agency, you are responsible for choosing investments in your...

 

Tuesday, November 7, 2017

When it comes to saving for retirement, Americans love their 401(k) and other defined contribution (DC) plans. They demonstrate it with money and participation: As of late 2016, about 54 million Americans were active participants in...

 

Friday, November 3, 2017

 

Friday, October 27, 2017

No one likes to go it alone, especially when “it” is the oversight of an employer sponsored retirement plan. The fiduciary rules, regulations, and the responsibilities to your employees, can be enormous burdens. You want to...

 

Wednesday, October 18, 2017

Your company is likely among the majority that not only want to help employees with their nonretirement financial matters but also are offering tools to make it happen. That statement can be made with some degree of confidence, because...

 

Monday, October 9, 2017

The Average retirement plan is wasting 25 basis points of participant’s money per year and there are many plans who are wasting in excess of 1%. To put this in perspective 25 basis points for a $5,000,000 plan, equates $12,500 in...

 

Thursday, September 28, 2017

Two recent studies examined the impact of student loans on retirement savings and income for Americans in two very different life stages: early savers and individuals in or approaching retirement. A study from the Center for...

 

Thursday, September 21, 2017

Each of your workers has a unique story, and some demographics in particular may benefit from Roth options in the company’s retirement plan. Young workers, employees in lower tax brackets, and even highly compensated employees...

 

Friday, September 15, 2017

Is your plan on the right track to pass end of year testing? A proactive check-up can prevent the unexpected costs of failed testing at year end and allow you to take action now to improve your results. Watch this brief video to learn more

 

Friday, September 1, 2017

Implement Your Plan Before 10/1 A Safe Harbor 401(k) Plan is a way to design your plan to automatically pass the Non-discrimination tests or avoids them altogether, guaranteeing that the highly compensated employees can make the...

 

Thursday, August 24, 2017

Is it important to do periodic reviews of the conservative options in our investment lineup, and if so, when should we evaluate those offerings? Good question! It’s always a good idea to review your investment lineup regularly to...

 

Wednesday, August 9, 2017

What Can Squirrels Teach Us About Saving? They’re smart and adaptable, and they plan. Darwin said that organisms don’t need to be the smartest to survive, they need to be the most adaptable. Gray squirrels are a double...

 

Friday, July 28, 2017

Watch this brief video to find out how!

 

Monday, June 5, 2017

Many Plan Sponsors understand that plan design has a big impact on participation and savings rates in their retirement plan. However, most fail to correlate how the plan design can have a big impact for plan sponsors depending on the...

 

Wednesday, May 10, 2017

Watch this brief video to find out the three questions to ask!

 

Wednesday, May 3, 2017

You may have heard media reports about a new fiduciary rule for retirement accounts that President Trump has rescinded. Understandably, you may have questions about how this might impact to your 401k plan. The rule was designed to...

 

Wednesday, April 19, 2017

For parents who want to help their children pay off loans, a note of caution. A growing number of parents appear to want to help, as young-adult children struggle to pay off debt in an era when wages are not growing and rents are high....

 

Monday, April 10, 2017

How important is it to deliver targeted messages as we attempt to engage, communicate with and educate different participant demographics in our retirement plan? In a word, very. Targeted communications and relevant tools, like mobile...

 

Wednesday, April 5, 2017

How do you know if you are a Plan Fiduciary? If you are not sure, or even if you think you are not, chances are you might be. The easiest way to check is to look at your Plan’s 5500, Plan Document, Service provider agreements. If...

 

Friday, March 24, 2017

Follow Hardship Distribution Rules to Keep Plan Status While many employees today understand the importance of retirement readiness, some plan participants may seek a 401(k) hardship distribution to accommodate crucial, more immediate...

 

Sunday, March 5, 2017

Now is the perfect time for planning to find ways to increase employee participation and savings rates in your company retirement plan. A well-designed 401(k) plan can play a significant role in helping you and your employees save...

 

Thursday, March 2, 2017

Do investors rely on emotion when investing? Many behavioral economists and psychologists believe they do. As much as we recognize the need to save, many small obstacles tend to get in the way. It turns out the decisions we make about...

 

Wednesday, February 15, 2017

Few, if any, retirement plan sponsors want to face an audit, yet a successful private retirement system necessitates occasional employer audits by the Internal Revenue Service’s Employee Plans (EP) compliance program. Plan...

 

Wednesday, February 8, 2017

No one likes to make mistakes—especially retirement plan mistakes that can result in costly fines or even litigation. In 2016, the Department of Labor collected nearly $777.5 million for plan restorations, penalties and fines....

 

Wednesday, February 1, 2017

No matter the business or service, no one likes paying excessive fees. This is especially true with retirement plans. Participants are setting aside money for retirement, and the last thing they want is to have those precious dollars...

 

Friday, January 20, 2017

How the Fiduciary Rule Will Affect Your Plan and Employees Department of Labor (DOL) released a rule last April, which we call "the fiduciary rule." Essentially, it requires all individuals giving advice to retirement accounts to act...

 

Wednesday, January 18, 2017

In 2015, some encouraging trends emerged for 401k plans, according to a recent survey. New participant savings rates, increased Roth contributions, reduced trading activity and fewer plan loans all contributed to solid retirement...

 

Friday, January 6, 2017

DC Plans Alive, Well and Thriving Although the private, employer-sponsored retirement plan system went through a shaky period during the 2008 financial crisis (when plan balances declined and the number of loans rose), DC plans have...

 

Wednesday, January 4, 2017

As you probably know, the Department of Labor issued final guidance on the fiduciary rule in April. Now that the dust has settled, let’s take a closer look at how the new standards affect plan sponsors. The biggest change is an...

 

Monday, December 5, 2016

Fostering retirement plan engagement is important, especially since it's a sure first step to helping create successful outcomes for participants. According to Milliman, the key is integrating your participant education and...

 

Wednesday, November 30, 2016

While the de facto options for most retirement plans are target date funds (TDFs) and risk-based funds, not all QDIAs are created equal. When evaluating funds and providers, watch out for red flags, such as unreasonably high fees or...

 

Monday, November 14, 2016

Today, many employees are unprepared for retirement. Some workers don’t know how to calculate their future financial needs and they lack the financial literacy to effectively manage their assets. Others are not motivated to save...

 

Wednesday, November 2, 2016

Eighteen years ago, the retirement industry rolled out automatic enrollment to help combat employee inertia, increase participation in workplace retirement plans, and foster higher savings rates. Still, a surprising number of plan...

 

Thursday, October 27, 2016

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans for the 2017 tax year. Many of the pension plan limits remain unchanged from 2016 to 2017.Listed below are the...

 

Wednesday, October 19, 2016

The Safe Harbor plan makes it easy for business owners to maximize contributions to their own accounts while reducing some of the limitations associated with adhering to IRS testing. The Safe Harbor Plan allows you to: Contribute the...

 

Wednesday, September 14, 2016

Are your employees prepared for retirement? Why does it matter? Organizations can face unintended consequences when retirement-eligible employees remain working because they have not saved enough in their company's retirement plan....

 

Wednesday, August 10, 2016

This summer so far has been anything but quiet. Between the June Brexit vote, several headline-grabbing jobs reports, the winding path of oil prices, and all-time highs for stocks, there has been a lot of activity to absorb in these...

 

Sunday, November 1, 2015

The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change for 2016...