…for bank benefit programs Types of retirement programs offered by banks Types of executive benefit programs offered by banks Use of benefits financing vehicles among banks The Pentegra study shows how benefits are a game changer for today’s banks in attracting and retaining top talent….
“Attracting and retaining talented employees is one of the biggest challenges facing banks today. Benefits can be a game changer. For employers competing for job candidates, a comprehensive benefits package may tip the scales for a candidate who’s considering multiple offers. Your total rewards package…
…a new executive at a company with about 250 employees, who acted as a kind of CFO/payroll office manager combination, but who didn’t have a lot of experience with retirement plans. The firm’s benefits had a 90-day requirement for eligibility; its 401(k) plan document also…
…in some quarters – and the fact that the Democratic party now controls both houses of Congress as well as the chief executive chair could bode well for SSRA and other legislative efforts in the retirement savings sector. Already Biden has signed an executive order…
…Senior Vice President of Client Services at Pentegra Retirement Services, a leading provider of retirement planning services to financial institutions and organizations nationwide, founded by the Federal Home Loan Bank System in 1943. Rausser oversees consulting, BOLI, actuarial, communications, and marketing practice groups at Pentegra….
…her duty to the plan. Commonly, the employer purchases the insurance as part of the overall compensation package of company executives who assume responsibility over the company’s benefit plan. Check Coverage Carefully Fiduciary liability insurance coverage varies widely from policy to policy, so it’s important…
…by the Covid-19 pandemic has caused a lot of people to re-examine their financial lives,” commented Christian Mitchell, executive vice president & chief customer officer at Northwestern Mutual. “For some, the prospect of an early retirement appears more achievable, while others are adjusting for delays….
…legislation will help give workers more flexibility to foot the bill for an unexpected emergency expense.” The proposed legislation has received what can best be described as mixed reviews. The American Retirement Association (ARA), which includes the American Society of Pension Professionals & Actuaries (ASPPA),…
…based on estimates that more than 80 million 401(k) plan participants receive eight mailings per year. It is important to note that these efforts are a result of an August 2018 Executive Order signed by President Donald Trump, “Strengthening Retirement Security in America.” Part of…
…and/or provide additional benefits in lieu of a supplemental executive retirement plan (SERP) or non-qualified plan. While DB pension plans tend to favor older employees, a cross-tested plan is a type of 401(k) or profit sharing plan that can be designed to allow a credit…
…blocks for many business owners and executives, who often feel that their focus should be on their jobs and not on the legal, moral and ethical obligations involved with being a fiduciary of a retirement plan. By outsourcing the fiduciary role to a knowledgeable third-party…
…without saying – it is incumbent upon the relevant community bank executive to read all communiques from the third-party fiduciary, and to ask and follow through on any questions or concerns. None of these duties should be particularly onerous, especially if you have chosen a…