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

Employees worried about their personal finances are less productive, more distracted and are easier targets for poachers. While none of that is a revelation, a recent nationwide survey showed just how pervasive financial insecurity is in the workforce and how large the losses and potential risks are for employers at every level.

Healthcare costs are on the rise, and employers expect double-digit growth in the next decade. As a result, there’s a growing trend toward financial wellness programs included with employee benefits, as this both benefits employees and minimizes a company’s fiduciary risk. In addition to these growing trends, workers are beginning to look for the during … Continue reading Beat Rising Healthcare Costs with a Financial Wellness Program

As you bask in the glory of summer over the next couple of months, don’t forget the three Fs that define this cherished season — fun, Fourth of July, and fiduciary! While you’re enjoying the fruits of summer, don’t forget your fiduciary responsibilities! Ask yourself the following questions to make sure you are on top … Continue reading Summer Homework for Fiduciaries

Americans are not saving enough for retirement. To address this issue, a new retirement-related bill is making its way through Congress, The Setting Every Community Up for Retirement Enhancement (SECURE) Act. Its purpose is to help Americans save more for retirement by creating new rules to expand and preserve retirement savings, improve the administration of … Continue reading SECURE Act – Helping Americans Save for Retirement

Millennials – they’ve infiltrated the workplace and bring expertise in social media, individuality, technology and hipster bars. But, what do they know about saving for retirement? Typically, younger people don’t make retirement savings a priority. Living expenses, student debt, rent or house payments, and other day-to-day expenses mean that retirement savings take a back seat. … Continue reading Millennials Know It All. But Are They Saving for Retirement?

Fiduciary duty requires you to provide your employees and participants with educational opportunities so they can make informed investment decisions.  It’s not always easy to know what your participants need, want or will take advantage of.  Using a simple framework for your educational program may increase the effectiveness of your program. Provide a consistent, ongoing … Continue reading Effective Employee Education

Many employees feel squeezed to both pay off their debt and save for their future. A recent Private Letter Ruling (PLR) opens the door for employers to help them. The average student graduating in 2016 has $37,172 in student loan debt.¹ According to the New York Federal Reserve, more than two million student loan borrowers … Continue reading Repay Student Loans or Save in a Retirement Plan? Why Not Both?

“What records should I keep? How long should I keep them? How should I organize my files?” Advisors have been asked these questions time and time again by plan sponsors looking for a general guideline for record expiration dates. Record retention doesn’t need to be a mystery, and the filing system doesn’t need to become … Continue reading Records and Their Expiration Dates