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The Ins and Outs of Fiduciary Outsourcing for Community Banks

…C-Suite at community banks, which can find outsourcing very appealing. Not only is the passing along of fiduciary responsibilities one less burden for community bank managers, allowing them to focus on day-to-day business and obviating the need for them to become qualified plan experts, but…

Getting Our Hands Dirty

…we serve, volunteering helps us connect with our community. We encourage our staff to make a positive difference in our community in many ways—whether by making contributions or donating their time to local non-profit organizations. Seeing my staff bonding over hard work and volunteering their…

What Is The Difference Between A 401(k) Plan And A 403(b) Plan?

…is the level of employer involvement. If a plan falls under ERISA there is a significant amount of employer involvement that is necessary. The employer chooses the types of investments option based on what is best for the plan and sends the payments to the…

The “Total Rewards” Approach to Attracting and Retaining Talent

…can be a huge factor in both attracting and retaining talent. These can include: Creating workplace flexibility, such as working from home or having flexible work hours Providing paid and unpaid time off Encouraging participation in community awareness and involvement programs Whether one considers it…

Which Types of 403(b) Plans Are Subject to ERISA?

…in order to claim an exemption from ERISA: Participation must be voluntary. All rights under the annuity contracts or custodial accounts must be enforceable by the employee or beneficiary (not the employer.) Involvement of the employer must be limited to certain restricted activities. The employer…

The “Definitive” List of Best States to Retire In

Many retirees seek to relocate after their careers are over, for a variety of reasons: Wanting to downsize, to live in a community of like-minded (and similarly aged) people, or moving closer to (or, in some instances, further away from) family and friends. But, assuming…

Rapid Pace of Legislation in 2020 Could Be Eclipsed by This Year’s

2020 was an unusually busy year … and not just for the most obvious reasons. Legislatively, the retirement savings industry was faced first with the Setting Every Community Up for Retirement Enhancement (SECURE) Act – actually signed into law on Dec. 20, 2019 — the…

Pentegra at 75: Still Going Strong

…the past 75 years, as has the community we serve. In fact, Pentegra wasn’t even Pentegra until 1993; we started off as the Retirement Fund of the Federal Home Loan Bank System, having been established by that system to administer a defined benefit pension trust…

The Growing Use of Collective Investment Trusts in Retirement Plans

Collective Investment Trusts (CITs) have recently gained significant traction in the plan sponsor community. What are CITs? Unlike mutual funds, CITs, also known as commingled or collective funds, are pooled investment vehicles organized as trusts and maintained by a bank or trust company. CITs are…

Getting Ready for a PEP Rally!

…of the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was the creation of the PEP, which allows unrelated employers to collectively participate in a retirement plan that is professionally run. As with the Multiple Employer Plan (MEP), the economies of scale…

SECURE – What It Can Mean for Small Businesses

Understandably, the global and national effects of the COVID-19 pandemic are top of mind today. But, now that we generally appear to be on the downside of the coronavirus’s curve, it is worth revisiting the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and…

Are More Modifications Needed Before We Feel SECURE?

When the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was finally signed into law on December 20, 2019, it was a cause for celebration among retirement industry professionals everywhere. After all, the SECURE Act was the first major legislation for our…