When was the last time you reviewed your retirement plan – 5 years ago, 3 years ago? If it has been over a year, it may be time to benchmark your retirement plan, but it doesn’t have to be a chore this time around. After your review, you should feel more confident with your plan’s…

Read More

For the millions of business owners that offer a workplace retirement plan, the COVID-19 pandemic created many financial difficulties. However, as the economic climate improves, there is an opportunity for employers to refresh their company’s retirement plan. With an important plan document restatement deadline happening in 2022, there’s never been a better time for employers…

Read More

Are you getting the most bang for your buck? When choosing to invest your hard-earned dollars into a Traditional or Roth 401(k), there are a couple of big factors to consider like the number of years until retirement and your current and future tax bracket. Our helpful infographic illustrates each plan type’s impact on take-home…

Read More

Just ask anyone: Uncle Sam and the retirement industry love acronyms. Another was added in December 2020—PEP—which conveniently rhymes with MEP and SEP. The three plan types are 401(k) cousins[1] meaning they share many fundamental similarities, and their main differences relate to the administrative models they use. If you don’t speak fluent tax code or…

Read More

Help your employees save with a plan that fits your unique organization! Each type of retirement plan comes with its own set of features and tax advantage strategies for employees and employers. Knowing the different types of workplace retirement plans available is important so you can choose the best one for your organization.  There are…

Read More

The CARES Act gave plan participants quick access to funds during the COVID crisis, although only about 6% of participants took advantage of the options offered.[1] However, as a plan sponsor you must understand your own obligations and how to keep your plan in good standing. In most cases, the Coronavirus Aid, Relief, and Economic…

Read More

The global pandemic has had a staggering effect on the economic lives of millions, driving them to actions that could have long-lasting effects on their retirement savings. Facing unprecedented strain caused by the COVID-19 crisis, individuals who lack adequate emergency savings are turning to retirement plans to address their financial shortfalls. Additionally, hardship withdrawals have…

Read More

30% of Americans don’t have a budget. In fact, 3 in 5 don’t know how much they spent last month, and the median household retirement account balance in America is $50,000. One if not all of these statistics could exist in your workplace. Here are three ways your employees can take control of their finances…

Read More

Many American workers struggled financially before the COVID-19 pandemic. Therefore, it isn’t surprising that this crisis could greatly hinder their ability to reach their retirement income goals. Indeed, more than three-quarters of employees (77%) say they have been concerned about their financial well-being since the COVID-19 outbreak[1] and 82% will rely on their workplace retirement…

Read More

When employees are financially stressed, they spend three or more hours a week – approximately 150 hours per year – worrying about personal finances or dealing with them at work.[1] A financial wellness program is a soft benefit, so if you feel anxious about offering this benefit, you’re not alone. There are a lot of…

Read More