Several events can trigger a DOL or IRS audit, such as employee complaints or self-reporting under the annual submission of the Form 5500. Oftentimes an audit is a random event, which is why you should always be prepared. Listed below are several key items typically requested in an initial letter sent by the IRS or … Continue reading Are You Ready for an Audit?
We know that most plan participants are not financial experts, and that can make planning for retirement difficult. Fortunately, there are some basic steps that you can follow to work toward a successful retirement. Learn the basics of saving and investing.Understand the basic types of investment products, like stocks, bonds, and money market accounts. Each … Continue reading Four Basic Steps for a Successful Retirement
Subject: Market Volatility Update and How Your Target Date Funds Helped Body: Q1 2020 was an unfortunately remarkable quarter. US equity markets saw a peak to bottom decline of 34%, the largest drop since the Great Recession in 2008. This marked the fastest bear market decline in history at 16 (trading) days. Target date funds … Continue reading Sample language for plan sponsor to send to participants
Subject: Market Volatility and flexPATH TDF Presentation for Participants Body: Q1 2020 was an unfortunately remarkable quarter. US equity markets saw a peak to bottom decline of 34%, the largest drop since the Great Recession in 2008. This marked the fastest bear market decline in history at 16 (trading) days. Target date funds helped mitigate … Continue reading Sample language for advisor to send to plan sponsor clients
On Wednesday, March 18, 2020, the president signed HR 6201, the Families First Coronavirus Response Act (the FFCRA), which contains several different provisions (also called Acts), which are now law. The new law will have a significant impact on employer benefits and leave policies, particularly for those employers with fewer than 500 employees.In short, the … Continue reading Washington Update: Congress Enacts Families First Coronavirus Response Act, Including Paid Sick Leave, Expanded FMLA Protections and Mandated COVID-19 Health Insurance Coverage
Despite the fact that women tend to live longer, female workers typically have lower retirement account balances than their male counterparts. Many factors may contribute to this disparity, including lower earnings, greater part-time work and time off for child and eldercare, lower levels of financial literacy and lower risk/lower return investment choices. As a result, … Continue reading Closing the Retirement Gender Gap: How Retirement Plan Advisors Can Help
According to a Transamerica Center for Retirement Studies (TCRS) report fewer than four in ten U.S. workers know about a tax credit that may help them save for retirement, per the IRS. The Saver's Credit is available to eligible taxpayers who are saving for retirement. The Saver's Credit is a non-refundable tax credit, and can be … Continue reading Another Way to Save: New Tax Credit for Plan Participants
An educated employee is an empowered employee, especially when it comes to retirement savings and financial wellness. To help employees better understand their fiduciary process, the key features of your company’s retirement plan, and the importance of setting aside money for their future, it’s crucial to offer financial education. Financial education can come in many … Continue reading Addressing Employee Education Strategically
Life is a series of decisions, and everyone has to live with the results of the decisions they make. One of the most serious decisions that we all face is how to prepare for retirement, but frequently we don’t make the best choices to protect our futures. What are some of the most critical decisions … Continue reading Participant Memo: Five Key Decisions for a Successful Retirement
Welcome to the March 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 Spring Summits have been postponed. Contact support@rpag.com for questions. technology update PlanFees Prism Benchmarking report has been … Continue reading The RetireMinute: March 3, 2020
