…those people had taken out two or more such loans. Tellingly, 44 percent of those who had taken loans said they regretted the decision. Still, the temptation is there, and it is very real. If the 401(k) plan allows, the participating employee can take advantage…
…the case with a Roth IRA. A Plan Sponsor Council of America (PSCA) survey published earlier this year found that three-quarters of its respondents “strongly agreed” that eliminating or reducing the pre-tax benefits of 401(k) or 403(b) retirement savings plans would discourage employee savings in…
…like a good time to revisit the topic and provide some updates. Discussions about changes to the fiduciary standard as applied under the Employee Retirement Income Security Act of 1974 (ERISA) took some five years, with the new fiduciary rule finalized by the U.S. Department…
As a general rule, an ERISA plan administrator may furnish notices to employees electronically. However, the administrator must use measures “reasonably calculated to ensure actual receipt.” To meet the DOL standard for electronic delivery of required plan notices, the guidelines require the following: The participant…
…for bank deposits, the PBGC is essentially a federally-created safety net that provides limited coverage for private sector workers if their company’s pension fund fails. It was created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of…
…help set yourself apart. Talk to us about how we can help you showcase your approach to helping clients achieve the outcomes they seek for themselves and their employees. It’ll set you apart from the pack and help set the foundation to grow your business….
…plan will help you customize it. What does financial wellness mean to you? A 401(k) is a savings vehicle, but you can also use it to help educate employees to be healthier in all aspects of their lives. Are you familiar with different ways we…
Despite the evidence that, in general, those who have retired – especially those who have been retired for a significant amount of time – are spending less and at a slower rate than might have been assumed, there would seem to be little reason to…
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…
It is no secret that there is a retirement savings crisis in the U.S. A 2019 Bankrate survey found that 52 percent of American workers believe they are behind their own savings goals, with 16 percent saying they were on track, 11 percent saying they…
The U.S. Department of Labor’s (DOL) June 18, 2020 request for information (RFI) on prohibited transactions involving Pooled Employer Plans (PEPs) is good news for plan sponsors and potential participants alike. As we wrote at the time of its passage, one of the major provisions…
A blog by Pete Swisher, CFP®, CPC, TGPC Senior Vice President, Pentegra Retirement Services Quick summary: The Bill is on the President’s desk for signature. Most retirement-related provisions that had been included in early versions have been stripped out—the emphasis is on personal and corporate…