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When it comes to the topic of fiduciary responsibilities for qualified retirement plans, there are three things we know really well: Plan Sponsors are, by definition, a fiduciary of their own plan as they exercise control and act on behalf of the plan. Some number of...
You already know that a 401(k) is a very popular retirement plan and, like other plan designs, it allows employees to take advantage of tax deferrals on contributions and earnings while their money accumulates for retirement. To enjoy this special status, the IRS put...
For 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...
Financial wellness – it’s essential to saving for retirement Introducing 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...
Cash Balance plans allow six-figure annual contributions Most 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...
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...
Auto-Enrollment and Auto-Escalation 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...
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...
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...