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Aligning Plan Design with Client Goals

Aligning Plan Design with Client Goals Most of us live in homes that were not custom-designed for us. We adapt to them rather than expect them to be optimized to how we like to live. Most retirement plans are sold the same way. Companies buy…

401(k) Plan Design and Automatic Features

…deducted are not included in the employee’s taxable wages or subject to income tax withholding requirements. However, 401(k) and 403(b) plans that accept designated Roth contributions can specify that the automatic contributions will be designated Roth contributions, which means they are deducted from an employee’s…

Taking Plan Design to New Heights

Designing effective qualified retirement plans that meet a plan sponsor’s objectives has become somewhat of a lost art. The reasons are many: Cookie-cutter designs are easier; safe harbor designs get media attention; the flexibility of modern plan documents are overlooked; and pre-approved plans can satisfy…

Cross Tested Plans

…ARE THE DIFFERENT TYPES OF PLAN DESIGNS FOR CROSS TESTED PLANS? Typical Cross Tested plan designs include New Comparability Plans and Age-Weighted plans. With both types of plans, if non-discrimination requirements are met, a larger share of the employer’s contribution may be made on behalf…

Why Plan Restatements Provide An Ideal Time To Think About Plan Redesign

…than April 30, 2016. The restatement of the plan is also an opportune time to consider implementing progressive plan features—automatic features—that can help drive positive participant behavior to drive more successful outcomes. Current best practices in 401(k) plan design include adding automatic features to help…

After Tax Contribution Considerations

Pentegra administers many 401(k) plans that include standard after-tax contributions—the non-designated Roth 401(k) type. And one thing we have learned is that after-tax contributions can create problems for the sponsor if the plan is not carefully designed and properly administrated. In a 401(k) plan, standard…

How Does A Cash Balance Plan Work?

…lump sum payment, benefits are also available as an annuity. COST CONTROL – Cash balance plans tend to reduce pension costs because benefit targets are based on current salary rather than projected final average salary. In this sense, cash balance plans are similar in design

Five Key Concerns for Retirement Plans in 2020

…some TPAs go the extra mile to help you better serve your clients with additional value-added services and capabilities that could help mitigate fiduciary risk, provide plan design consulting services, and offer other ways that can ultimately help you grow your practice. Longevity. While it…

The Valuable Lesson We Can Learn From Retirees

…retirement income for many people today. Plan sponsors have a growing sense of responsibility for employees’ overall financial wellness. Plan design decisions are the key driver in helping people save successfully. Retirement readiness starts with progressive plan design Ensuring successful participant outcomes begins with progressive…