…behalf of the plan. Some number of plan sponsors don’t know this even though we try to do our best to make this clear. There are real and serious consequences for them and for your relationship with them if they don’t execute their role well….
…guidance on how to best evaluate these programs and optimally align programs with opportunities. Learn more about the pros and cons of each type of design and how to best meet the needs of the enterprise recordkeeping partner to the investment manager and individual advisor….
…once ESAs become available.[11] The decision to allow plan participants greater flexibility to take money out of their retirement accounts early rests with plan sponsors. SECURE 2.0 offers numerous options, each of which must be judged according to the best interest fiduciary standard: Is this…
…and one provider as recordkeeper, TPA, investment manager and custodian. Investment offerings are usually limited, and service delivery reflects the choices and qualities of the provider who may or may not be a leader in all facets of retirement plan work. When we partner with…
…a 3(16) fiduciary can also help minimize liability. A “3(16),” named for the section of governing ERISA Code, can assume many key retirement plan responsibilities from the plan sponsor—such as reporting and disclosure tasks—in addition to others. By engaging a 3(16), plan sponsors not only…
…Rowan’s case, $10,000. The plan administrator determines the salary deferral ADP limit for the year is $8,000. The lesser of $22,500, $10,000 or $8,000 is $8,000. Therefore, any salary deferral Rowan would make above $8,000 (up to a maximum catch-up limit of $7,500 for 2023)…
…lost tax savings or retirement savings since they’re not optimized to their particular situation. Aligning retirement plan design with a client’s goals means to listen and assess what their true goals are and then present a range of ideas that can best deliver what they…
…opportunity for rank and file employees to participate while giving owners a more generous savings path. And don’t forget, the IRS provides all employees over the age of 50 the opportunity to make what are called “catch up” contributions. This might be the best named…
…each month, they won’t be able to contribute to even the best-designed plan. You know as a wealth management advisor just how important debt management, credit card responsibility, and emergency funds are to a stable financial future, and at the same time, you’re aware of…
Market volatility can sometimes cause us to make emotional financial decisions. That may not be the best strategy when saving for retirement. Join us as we discuss ways to help manage your investment strategy during times of market volatility, including: Evaluating where you are &…
…with us first to make sure this is the case for your client’s plan. Call on us any time to talk about optimizing profit sharing contributions or to have us share illustrations on how any of these methods may work best for a client’s situation….