…planning remains, is a sobering fact. Thus, we are introducing and promoting the hashtag #talkaboutretirement, designed to help spur dialogue among family members, business associates and friends, in addition to industry professionals. We hope that #talkaboutretirement will indeed become a trending topic – one that…
…savings crisis that the United States faces as a whole, we believe that Millennials should consider reordering their priorities. Digging Deep Following a round of written responses from survey participants around the country, Pentegra independently interviewed a number of respondents for additional information designed not…
…of PEPs allow the participating employers to benefit from lower fees than in traditional single employer plans. In the RFI, the DOL states: PEPs are required to designate a pooled plan provider who is a named fiduciary of the PEP. As a fiduciary, the pooled…
…contribution plans. To be eligible, GoP member plans must – among other things — be an individual account plan or defined contribution plan; operate under the same trustees; and have the same designated fiduciary or fiduciaries. GoPs are scheduled to be made available in 2022….
The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law on March 27, is designed to provide much-needed economic relief to individuals and businesses adversely affected by Coronavirus (COVID-19). But what everyone might not know about CARES is that it also…
…the likelihood of HCEs receiving refunds you may want to take advanced planning steps to minimize any uncertainty and the consequences of the testing process. Some approaches to adopt are: Make plan participation more attractive to lower-paid employees through plan redesign, adding more investment options,…
…of legal action, such as participant divorce proceedings or dis-gruntled employee lawsuits. Participant information that should be retained includes: Determination of eligibility Hire and termination dates Beneficiary designations Notarized spousal consents and waivers Loan, hardship, and distribution documentation Hours worked for vesting and allocation purposes…
…asset for a small business. Retirement plans can be designed to help small business owners preserve what they have built, achieve the retirement life they want and protect their assets. Think you can’t afford a retirement plan? Think again as you consider the following hypothetical…
…the plan to ensure it was prudent.” And in December, fiduciaries of M&T Bank’s 401(k) plan reached a $20,850,000 settlement agreement over a lawsuit alleging that eight of the plan’s 23 designated investment alternatives were M&T Bank proprietary mutual funds that cost significantly more than…
…is the case with other annuity benefits realized from an insurance policy, an annuity in this case – again purchased from an insurance company — can be designed to stretch your savings over your lifetime and even possibly allow you to enhance your lifestyle. We…
…401(k) retirement savings over the course of one’s retirement years may not be the most prudent strategy. In such event, one may want to consider a Lifetime Income Solution (“LIS”) as part of one’s decumulation strategy. Essentially, LISs are designed to convert accumulated retirement assets…