DB Plans Are Alive and Well

DB Plans Are Alive and Well

 Download The Action DocFor the most part, the news about Defined Benefit plans lately has not been particularly good. Whether a big company could no longer fund its plan or how it was bankrupting their business, headlines have discouraged many businesses from seriously considering a DB plan.But it’s time to take another look because, for smaller, more mature companies, DB plans can be a great vehicle to help employees prepare for retirement.You may be surprised to learn that they are...
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Retirement Plan Maintenance

Retirement Plan Maintenance

Whether it’s your car, your air conditioning or your own health, virtually everything you depend on in life needs a periodic assessment. What’s working, what needs repair? A company’s retirement plan is no different. And the evaluation is no less complex than the one your primary care physician might use.This month’s newsletter is designed to introduce you to the elements that make up a well-functioning retirement plan. And as you’ll discover here, the cheapest plan...
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Rise of the Machines

Over the last 30 years, there's been an incredible array of advancements in technology that have impacted various parts of our lives. While not all of them were amazing, many of them inherently improved our quality of life and some allowed us to catapult forward into a world of instantly accessible information on a scale never witnessed. As computer science has seeped into almost every facet of life, there's been an increase in connectivity, productivity, and efficiency. The world of investme...
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Participant Loans: Benefit or Detriment?

For many years, plan sponsors have wrestled with the decision to offer loans to their plan participants. Some consider them to be a benefit and even promote them as a legal way to use tax free money while participating in the plan. According to the Employee Benefit Research Institute, 87% of plan participants can take a loan against their retirement account. Of those employees with access to take a loan, about one-fifth borrow against the retirement account. Come retirement, what are the eff...
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Financial wellness – it’s essential to saving for retirement

Financial wellness – it’s essential to saving for retirement

 Download The Action DocFinancial wellness – it’s essential to saving for retirementIntroducing a workplace retirement plan can be a compelling way for individuals to take control of their retirement savings, but for so many people that don’t have control of their personal situation, the retirement plan at work doesn’t have a chance to be successful without a helping hand and tools to achieve financial wellness. We tend to talk about retirement plans in a vacuum – what it is ...
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Cash Balance plans allow six figure annual contributions

Cash Balance plans allow six figure annual contributions

Cash Balance plans allow six-figure annual contributionsMost people can contribute to their 401(k) without worrying about exceeding the annual contribution limit. If you’re under 50 years old, that’s $18,000 a year. If you’re 50 or older, it’s $24,000.A small, but important segment of the population, though, has the ability to contribute significantly more to their retirement accounts. For some of them, a profit-sharing plan and 401(k) ups the saving limit to $60,000. But for people really ...
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Go Digital

Go Digital

How much of your life happens online—75 percent? 90? With cell phones in our pockets and tablets next to our beds, we’re all leading electronic lives, with the expectation that when we want or need information, we’ll find it almost immediately. And retirement plan information is no different.
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To Roth or Not to Roth:

To Roth or Not to Roth:

A compelling feature of a 401(k) type retirement plan has always been the opportunity to contribute money from your current income on a pre-tax basis today - let it work for you over the years - and then pay taxes on the accumulated balance as you withdraw it in future. That’s a real attraction to many company owners and their workers. But what if you flipped this - and contributed money to your retirement savings account with post-tax dollars that you invested over time- and then had the oppor...
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Dealing with Uncashed Distribution Checks and Missing Participants

Dealing with Uncashed Distribution Checks and Missing Participants

Every plan sponsor has a fiduciary responsibility to account for all funds in a retirement plan—including uncashed distribution checks. Do you know what your responsibilities are when a check goes uncashed or a plan participant falls off the grid? Is there a point at which you are no longer liable? This month’s newsletter answers those questions for you. And it offers guidelines and best practices you can follow to ensure your plan remains in compliance, you meet your fiduciary obligations,...
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