It may be advantageous for a plan sponsor to consider adopting a traditional safe harbor design for their retirement plan. Adopting a safe harbor retirement plan design permits an employer to essentially avoid discrimination testing (the testing is deemed met). Remember, this testing limits highly compensated employees’ contributions based upon non-highly compensated employees’ contributions. By … Continue reading Considering a Traditional Safe Harbor Retirement Plan?
A partial plan termination is presumed by the IRS to occur when 20 percent or more of a company’s employees are no longer eligible to participate in the plan in a determined span of time (typically one plan year, but it can be other spans of time based on facts and circumstances). Routine turnover during … Continue reading Is Your Turnover Rate Routine? What You Need to Know About Partial Plan Terminations
Managing uncashed retirement checks may be considered a nuisance by plan administrators. Nevertheless, the employer still has fiduciary responsibility when a former employee fails to cash their distribution. Search efforts to locate a missing plan participant consume time and money and may fail to locate the participant. Likewise, going through the process of turning over … Continue reading Tips for Preventing Uncashed Retirement Checks
Retirement planning can often seem complicated and daunting. Really, though, most of the actions you need to take to work toward a confident retirement are very simple. Follow a Plan Successful investors have a plan and they stick to it. You have access to a qualified plan like a 401(k). With that comes access to … Continue reading Simple Secrets for Retirement Success
Welcome to the February edition of The RetireMinute. In this monthly newsletter you'll find the latest news, as well as updates on RPAG technology, marketing resources, custom solutions and upcoming training and events. news & updates 2020 RPAG Spring Summits The 2020 Spring Summits are filling up fast and hotel room rate deadlines are quickly approaching. … Continue reading The RetireMinute – February 4th, 2020
Many plan providers struggle with deciding how many investment options to offer in their retirement plans. While people generally like to have lots of options when making other decisions, having too many plan options can potentially lead to poor investment decisions by plan participants. In addition, increasing plan options can also increase plan costs, as … Continue reading Too Many Choices: How Many Investment Options Should You Offer?
Your retirement plan is a valuable resource for your employees and serves as a vehicle to attract and retain top talent. Ensuring plan success is crucial. Examining plan analytics can help evaluate its success. Plan analytics you should explore: Median age, tenure and savings rates of plan participants These analytics can be helpful to determine … Continue reading Use Plan Analytics to Evaluate Your Retirement Plan
Target date funds (TDFs) — which rebalance investments to become more conservative as a fixed date approaches — are a convenient way for plan participants to diversify their portfolios and reduce volatility and risk as they approach retirement, making them an increasingly popular choice. However not all TDFs are created equal, and selecting and monitoring … Continue reading Target Date Funds and Fiduciary Obligations
Over 40 percent of employers now offer at least a small retirement plan match to employees, who can help manage their financial wellness by taking advantage of this offer. Even if your employer only matches a small percentage, you’re losing money by not participating. But before you sign up for your company’s retirement plan, it’s … Continue reading Participant Memo: Take Advantage of Your Company’s Retirement Plan Matching Program
Welcome to the inaugural edition of The RetireMinute. In this monthly newsletter you'll find the latest news, as well as updates on RPAG technology, marketing resources, custom solutions and upcoming training and events. news & updates 2020 RPAG Spring Summits Registration is now open for the spring summits. Join us in the following cities: Austin, TX: March … Continue reading The RetireMinute – January 7, 2020