Another Way to Save: New Tax Credit for Plan Participants

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

Beat Rising Healthcare Costs with a Financial Wellness Program

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

SECURE Act – Helping Americans Save for Retirement

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 Know It All. But Are They Saving 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?

Repay Student Loans or Save in a Retirement Plan? Why Not Both?

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?

Winning Enrollment Techniques and Challenges

With an average of only 43 percent participation in governmental defined contribution plans, people living longer and saving less, and retirement benefits being reduced by their employers, the importance of saving couldn’t be greater. But – how to enroll those that aren’t in the plan? This NAGDCA session discussed some innovative strategies that had significant … Continue reading Winning Enrollment Techniques and Challenges