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Monday, June 21, 2021

Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6% from 20%.

 

Wednesday, June 16, 2021

Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many...

 

Monday, June 14, 2021

It can be exhausting trying to keep up with the whims of Wall Street. Lately, the financial markets have been fixated on federal taxes and what may be proposed on Capitol Hill in the weeks and months ahead. Wall Street’s focus on...

 

Wednesday, June 9, 2021

Will your retirement dreams match your reality? That's perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else? For more than 30 years, the Employee...

 

Monday, June 7, 2021

Identity theft is one of the fastest growing crimes in America affecting millions of unsuspecting individuals each year. A dishonest person who has your Social Security number can use it to obtain tax and other financial and personal...

 

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Friday, June 4, 2021

Ongoing communication with your retirement plan participants can often help boost contributions and retirement readiness. While much of this type of messaging is optional, there are some instances when participant notifications are a...

 

Wednesday, June 2, 2021

Recently, you may have seen reports that a record-low number of homes are available for sale—roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it's no surprise...

 

Tuesday, May 25, 2021

The SECURE Act offers additional tax credits with the retirement plan startup costs and the automatic enrollment tax credits. Stay updated on how these may affect you or your clients. Who is eligible for the tax credits? Business...

 

Thursday, April 8, 2021

In the investing world, 2020 was a year of records and firsts. The Dow Jones Industrial Average closed out the year at well over the 30,000 mark, setting a new record high as it increased more than 7% from the beginning of the year.

 

Sunday, April 4, 2021

July: Conduct a review of second quarter payroll and plan deposit dates to ensure compliance with the U.S. Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments.

 

Friday, April 2, 2021

Knowledge is retirement power According to the latest Fidelity Retiree Health Care Cost Estimate (2020), an average retired couple age 65 may need approximately $295,000 saved (after tax) to cover health care expenses in retirement. Of...

 

Wednesday, March 31, 2021

Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021.1More time for allHowever,...

 

Tuesday, March 30, 2021

Let’s play a little fill-in-the-blank game. Complete the following sentence: Those poor (Millennials, GenXers, Boomers)! They really got the short end of the retirement stick, especially in light of the pandemic. Which is the...

 

Friday, March 26, 2021

Cultivating a realistic budget can help you harvest a better financial future Spring is here and it’s time to think about growth potential—for both your garden and your journey toward financial wellness!

 

Friday, March 26, 2021

Q: Our business was hanging on in spite of COVID-19, but then our area was hit by wildfires. Can employees who participate in our 401(k) plan take money out of their accounts under the COVID relief provisions? A: No, but there may be...

 

Friday, March 19, 2021

When you get to a certain age, you may find yourself daydreaming about retiring early, or at least before the “traditional” age of 65. It’s only natural—the COVID-19 pandemic has caused many people to rethink...

 

Friday, March 12, 2021

Here are some easy ways to protect the environment and improve your budget at the same time. Wash your clothes in cold water. They get just as clean, but without the energy needed to heat the water. Take shorter showers. Shaving even...

 

Friday, March 5, 2021

One thing we have learned over the years is companies are focused on finding cost-efficiencies and ways to help reduce the amount of time employees are spending on administrative functions. We found 401k administration adds to the long...

 

Monday, March 1, 2021

What does the Plan Sponsor's Quarterly Calendar include? April: If a plan audit is required in connection with the Form 5500, make arrangements with an independent accountant/auditor for the audit to be completed before [...]

 

Wednesday, February 3, 2021

There are 3 basic questions related to plan investments you can ask that can uncover potential conflicts of interests. How is revenue sharing allocated? The best practice is to allocate it back to participants that earned it. If this...

 

Wednesday, January 27, 2021

In 2019, The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. While it is likely the most well-known of the retirement bill, in recent years, two other significant retirement bills were introduced...

 

Thursday, January 14, 2021

One year ago, there was already troubling news about how little Americans had saved for retirement. Then the pandemic descended, multiplying those concerns. What will be the long-term impact on participant saving behaviors?

 

Monday, January 11, 2021

Taking the right retirement planning steps as you reach each of the following age milestones could help you maximize your income, minimize your taxes and avoid penalties. Some of these dates are critically important.

 

Tuesday, January 5, 2021

According to the National Institutes of Health, most people consume less than half of the recommended amounts of fiber, despite the health benefits that come with it. Those who have diets rich in fiber are more likely to manage their...

 

Monday, January 4, 2021

In planning for your retirement income, it’s important to note that any COLA adjustment from the SSA can vary each year and is not guaranteed. For reference, here are the SSA’s Cost-of-Living Adjustments in effect:

 

Monday, January 4, 2021

For many people, a 529 savings plan offers an opportunity to achieve an important life goal and improve overall financial health. Here are three benefits that are particularly important during these times.

 

Monday, January 4, 2021

The SECURE Act will certainly enable many long-term, part-time employees to become eligible to participate in their employer’s 401(k) plan. To be prepared for this change, plan sponsors may want to review their plan documents.

 

Wednesday, October 21, 2020

Whether you’re considering or in the process of setting up a small-business retirement plan, or you’ve established one in the past few years, learn how you can potentially benefit from the increased federal tax startup...

 

Sunday, October 11, 2020

5 REASONS TO ESTABLISH A 401(K) PLAN - The 401(k) plan is a favorite retirement savings vehicle for Americans. It is estimated that 79% of working Americans work for a company that offers a 401(k) or....

 

Tuesday, October 6, 2020

Tap into the Power NapA short snooze can help get you through a tough day With all the fear, uncertainty and drastic changes that have occurred over the past several months, who has been able to tune out and enjoy a good, old-fashioned...

 

Thursday, October 1, 2020

Retirement in MotionTips and resources that everyone can use Knowledge is retirement powerLooking to reduce your taxes? It’s always good to remind yourself that your workplace retirement plan offers one of the best tax breaks...

 

Monday, September 28, 2020

Consider the trade-offs before deciding what age to begin taking Social Security benefits As you get close to retirement, one of your biggest questions will likely be when to begin taking Social Security benefits. If you file at an age...

 

Wednesday, September 23, 2020

They may have moved to the figurative back seat for a while, but retirement plan fiduciary issues did not stop during the Coronavirus pandemic. As you sift through what has happened in the last few months, you’ll want to pay...

 

Wednesday, September 16, 2020

Plan Sponsor’s Quarterly Calendar October Audit third quarter payroll and plan deposit dates to ensure compliance with the U.S. Department of Labor’s rules regarding timely deposit of participant contributions and loan...

 

Wednesday, September 2, 2020

Variety Pack Maintaining a diversified portfolio can help you feel more in control during uncertain economic times The COVID-19 pandemic has certainly tested the resolve of even the most seasoned investors. To help regain some...

 

Wednesday, August 26, 2020

Forward Thinking Five ways to keep moving forward in the age of social distancing Activities that people used to take for granted have changed in major ways — like a trip to the grocery store, attending a live concert or sporting...

 

Wednesday, August 19, 2020

"The future ain’t what it used to be” – Yogi Berra The events of 2020 have dramatically impacted nearly every business. Companies have been forced to implement new policies and procedures to keep their employees safe,...

 

Wednesday, August 12, 2020

Retirement in Motion Tips and resources that everyone can use Knowledge is retirement power It’s important to review your tolerance for investment risk on a regular basis, especially given the current market volatility. If you...

 

Tuesday, April 21, 2020

As we collectively struggle through the challenges presented by the Coronavirus pandemic, one thing is certain: employers are faced with some tough choices that will impact the company and its employees well into the future. Here are a...

 

Thursday, April 2, 2020

Take Five Five easy ways to reduce daily stress No matter how calm you try to stay, life is going to throw some stressful moments at you. It can really affect your focus on retirement planning or other financial goals. One day you...

 

Thursday, April 2, 2020

Spring Cleaning Eight tips for tidying up your personal finances Spring cleaning doesn’t just mean dusting off those bookshelves in your living room (which, by the way, probably haven’t been dusted since you moved in) or...

 

Tuesday, March 31, 2020

Retirement Plan Provision of CARES Act We wanted to keep you apprised of the latest developments regarding The Coronavirus, Aid, Relief and Economic Security (CARES) Act. On March 27, 2020, the President signed into law an...

 

Sunday, March 22, 2020

With the perspective of hindsight, it appears that past health scares, including SARS (2003), Swine flu (2009) and Ebola (2014), tend to follow a standard script for investors, the markets, and the economy. It includes: The spread of...

 

Wednesday, August 28, 2019

How realistic are employees about the true state of their retirement savings? While many among the three primary generations that make up today’s workforce are feeling pretty good about the future, all three may be seeing things...

 

Tuesday, August 13, 2019

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...

 

Tuesday, August 6, 2019

Our 401(k) plan is relatively small. Do we need to be concerned about fiduciary issues and lawsuits? It seems like there are bigger fish to fry? If your plan does not hold much money in assets, you are correct that ERISA enforcement...

 

Wednesday, April 10, 2019

Become a top employer! Do you want to gain a competitive advantage in recruiting, retaining and rewarding employees? You can, with a Smart 401k Plan Design and an organized course of action. By offering employees an optimized 401k plan...

 

Wednesday, January 30, 2019

January • Send payroll and employee census data to the plan’s recordkeeper for plan-yearend compliance testing (calendar-year plans). • Audit fourth quarter payroll and plan deposit dates to ensure compliance with the...

 

Wednesday, January 16, 2019

When expectation and reality differ, the results can be tough to take — especially when the subject is retirement. By communicating with employees in a way that recognizes both the perceptions and the realities, employers can...

 

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...

 

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...