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...

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.

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...

When we think about the important goals we’ve reached in our lives, like graduating from college or achieving a career milestone, the journey likely took time, perseverance, and a whole lot of hard work. But the payoff in the end are the rewards we’ve earned and the sense of pride we feel in the accomplishment.

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,...

Whether retirement plans are core to your practice or part of a larger strategy to help clients, you’ll compete more effectively if you successfully communicate how you differentiate yourself from other advisors. From the perspective of many business owners, most financial advisors provide pretty similar services and say many of the same things. The key is to help them understand why a relationship with you can benefit them. That’s what we call answering the “WHY US?” question. It’s more th...

This won’t come as a surprise, but we all have different tastes and needs. The examples are all around us. Take TV, for example. To me, it means movies. To you, it might mean sports or news. But that’s ok because we can customize our experience. After all, it’s not a one-size-fits-all world.

Although it's certainly true that not enough Americans are saving for retirement, it's also true that the many millions who are saving do so through an employer-sponsored defined contribution 401(k) plan. And as you may well know, 401(k) plans tend to generate a considerable amount of financial activity. The mobility of today's workforce means employees often request distributions when they move from one employer to another. Rollovers are common, too, as are hardship withdrawals.