Retirement 101

All approach retirement, some sooner than others. To enjoy your retirement years and not be a burden on family members, it is essential that you save sufficient assets to carry you through your retirement. No one knows precisely the amount of assets you will need for a comfortable retirement, but the more you save now, … More Retirement 101

Buying a Home

Purchasing a home is a big decision. There are many factors to consider. Most importantly, what is your budget? Is now the time to rent instead? How do you know? If you do become a homeowner, what about your mortgage? Should you go full-force and pay it off as soon as possible? Or are there … More Buying a Home

Partial Plan Terminations—Do You Have One?

What constitutes a partial plan termination? There is a rebuttable presumption that a partial termination has occurred if 20 percent or more of the participants are involuntarily terminated. The calculation is done as follows:What constitutes a partial plan termination? There is a rebuttable presumption that a partial termination has occurred if 20 percent or more of the … More Partial Plan Terminations—Do You Have One?

Five Ways to Expand Your Definition of “Benefits” to Include Wellness

  When we think of employee benefits in today’s traditional landscape, we don’t typically include wellness within that core definition. Instead, wellness is often considered a standalone strategy. But this can be a disastrous scenario, considering how employee benefits and well-being go hand in hand. Most employees think of the two as the same and … More Five Ways to Expand Your Definition of “Benefits” to Include Wellness

Your Newest Employee Benefit—Student Loan Debt Repayment Assistance

Student loan reimbursement programs are a fast growing employee benefit. Approximately 70 percent of 2016 college graduates have student loans with an average balance of $37,000.¹ The Society for Human Resource Management reports that while only about 3 percent of employers offer this benefit, interest among employers is growing rapidly. Research also shows that a … More Your Newest Employee Benefit—Student Loan Debt Repayment Assistance

Saving for College

You have big dreams for your children. Maybe they will grow to be an astronaut or a doctor—their potential has no limit. Have you considered how they will get there? Have you started to save for your children’s future education? According to the National Center for Education Statistics (NCES), the average annual cost for undergraduate … More Saving for College

Improving Automatic Enrollment

Our research shows that the vast majority of plan sponsors recognize that automatic enrollment has been effective in improving plan success and simplifying internal plan administration. Could automatic enrollment’s success be improved upon? When automatic enrollment first began gaining popularity, about 20 years ago, its typical design served a number of purposes. It improved plan … More Improving Automatic Enrollment

Do You Send Participant Notices via Email? Should you?

The number of notices and disclosures required to retirement plan participants has increased while methods to access information changed drastically. Many people receive their news and information on electronic devices through apps and social media. What remains the same is the Department of Labor’s (DOL’s) guidance about permissible methods to provide notices electronically. There is … More Do You Send Participant Notices via Email? Should you?

Are You Reducing Your Debt?

If debt is a leading contributor to your overall stress, you are not alone. The national mean for household credit card debt is $16,000. The average total household debt, including mortgages, is $132,500.¹ That volume of debt can be a real burden on your wallet, relationships and ability to achieve other important goals like saving … More Are You Reducing Your Debt?

Auditing Recordkeeper Statements—A Fiduciary Duty?

Adhering to prudent standards includes auditing quarterly statements from the recordkeeper. However, there is no explicit requirement for plan fiduciaries to do so. With regard to plan assets, fiduciaries have the explicit duty to ensure that: employee deferrals are contributed in a timely manner; the plan does not engage in prohibited transactions; and plan assets are … More Auditing Recordkeeper Statements—A Fiduciary Duty?