Category: Plan Consulting

In today’s economy, financial stress is having a profound impact on working Americans.  Stressed employees are feeling the pinch; this can affect productivity, retention and engagement at work. Financial education […]

One benefit of investing in a retirement plan is that you have access to two special kinds of investments: target-date funds and stable value funds. These funds serve very different purposes, but both can help with your retirement-savings goals at different times in your life, or in the current case, as tolerance for market risk changes.

While inflation may not be ideal news for consumers and economic growth in general, there are some benefits for savers – increasing retirement plan savings limits and interest rates. It’s a great time to evaluate whether you can contribute more to your Plan. Or, starting a plan to benefit from the tax-advantaged savings.

A Company’s Mission Statement expresses its culture, values and agenda to the outside world as well as within the organization. When benefits duly reflect the mission, Employees are motivated to work with a higher sense of purpose and feel rewarded for their efforts. This leads to happier employees, more productivity and increased utilization of benefits like the Retirement Plan.

Businesses differ from each other in countless ways, from what they offer to how they are run. But they all have one thing in common, and that is the desire to reduce expenses and increase profits. Business Owners are willing to explore every avenue to get there but they often overlook the opportunity to do so through their company retirement plan. Under the right circumstances, working with a consultant experienced in the complex area of advanced plan design can produce a dramatic boost in tax savings and wealth accumulation for both Employers and their Employees.

A retirement plan is a critical business asset that should be part of any merger and acquisition review and plan. Taking the first steps may require a retirement advisor to collect data, assess coverage requirements, perform some aggregate testing and review compliance. Mergers create a need for a multi-plan conversion strategy. And retirement plans begin to work harder for your business with due diligence on the funds, the plan design and participant pricing and educational resources.

A Mega Backdoor Roth lets you maximize your savings while minimizing your taxes and in the process you could put away substantially more. Understanding just these few key points about how it works as well as when and for whom it works best will help you know if this retirement plan option is right for you.

Every plan with more than 100 eligible employees is required to file an ERISA Audit when filing their 5500 with IRS. Reexamine the ERISA audit so you know what it is and if applicable be better prepared.

Secure Act 2.0 is coming as part of the Infrastructure Bill of 2021. This article highlights a few proposed changes including Roth IRA, an increase in RMD and more. The Secure Act 2.0 builds on the Setting Every Community Up for Retirement Enhancement Act of 2019. Included in the bill are dozens of provisions aimed at boosting retirement security.

If it walks like a mutual fund and talks like a mutual fund, why should I consider CIT’s for my company’s retirement plan menu of investment options? Solid question. In this article we examine the similarities as well as points of distinction that a plan sponsor may consider when choosing between a Collective Investment Trust (CIT) and a mutual fund.