Improper Handling of Hardship Distributions May Result in Significant Problems

These days, many plans are experiencing an uptick in the number of participant requests for hardship distributions. Much of this increased activity may be attributed to our prolonged and tepid economic recovery. As these requests are considered, you want to be sure not to act to the detriment of your plan. Improper handling of hardship … More Improper Handling of Hardship Distributions May Result in Significant Problems

2016 Budget Proposals Support Retirement Goals

On February 2, 2015, President Barack Obama released the Fiscal Year 2016 Budget of the U.S. Government that reflects a focus on raising overall government revenues. The prospective increase in revenue would create a range of new tax benefit programs, many of which would affect retirement savings for as many as 30 million Americans. According … More 2016 Budget Proposals Support Retirement Goals

Timing is Everything

“35% of Americans over 65 rely completely on Social Security.” – U.S. Census Bureau (July 2014) Approximately 96 percent of American workers are covered by Social Security, and many more, including non-working spouses, are eligible for payments. In addition, around 40 percent of the average retiree’s income in the United States comes from Social Security. … More Timing is Everything

Content & Frequency of Retirement Plan Committee Meetings

We often receive questions regarding the content and timing of retirement plan committee meetings. Most committees wonder, “How frequently should we meet?” For most, quarterly meetings are sufficient. Plans with minimal activity may be satisfied with one annual meeting, so long as meetings occur with adequate frequency to handle items critical to properly manage the … More Content & Frequency of Retirement Plan Committee Meetings

Is the Oil Price Decline Beneficial to the U.S. Economy?

Since June, oil prices have fallen to a six-year low, down over 50% from when Brent crude hit a 2014 high of $115 a barrel. Prices began their swoon mid-year as global supply outstripped global demand. The demand side of the equation weakened as a result of the economic woes of Europe and Asia, increased … More Is the Oil Price Decline Beneficial to the U.S. Economy?