As we enter the peak of summer, we hope you are enjoying time with family and friends. Whether that is taking a long, built-up vacation or spending time near a pool or beach, it is always good to recharge those batteries! In this edition of our newsletter, we provide two surveys. The first highlights the value of 401(k) employer matching. The second addresses retirement confidence for both employees and retirees given the current economic conditions.
This edition of our newsletter explains how early withdrawals can lead to tardy retirements and problems for everyone. Some of the ways to help with this is by offering comprehensive support, tailoring participant messaging, and reducing fund transfer friction. The Participant Newsletter found attached examines the basics of Roth 401(k)/403(b) plans and who would likely benefit from them.
The Plan Sponsor Newsletter discusses the risk of 401(k) lawsuits, financial hypochondria, and IRS/DOL audits. The Participant Newsletter explains what a Tax Saver's Credit is and how participants may be eligible to receive it.
The Plan Sponsor Newsletter discusses financial wellness programs, committee charters, and retirees' retirement asset withdrawal rate. The Participant Newsletter provides a personal finance calendar to help yourself get financially fit in 2022.
The Plan Sponsor Newsletter discusses ERISA 3(38) fiduciary services, appropriate interest rates for plan loans, and the importance of financial wellness. The Participant Newsletter examines key dates to remember as participants approach retirement.
The Plan Sponsor Newsletter discusses deemed distributions, financial wellness needs for both participants and organizations, and plan sponsor responsibilities when dealing with audits. The Participant Newsletter examines ten things to know about your employer's retirement plan.
The Plan Sponsor Newsletter discusses generational influences and behavioral finance. The Participant Newsletter discusses the importance of saving at an early age for retirement and the consequences associated with putting off contributions to a later age.
The Plan Sponsor Newsletter includes information on Bitcoin, 7 ways to reduce fiduciary liability, and compares the benefits of bundling or unbundling your retirement plan. The Participant Newsletter discusses why saving for retirement doesn't have to be intimidating.
The Plan Sponsor Newsletter includes information on the value of including actively managed funds in your plan's investment menu, a status update on the proposed bill to allow 401(k) match for student loan payments, and further details on retirement income products. The Participant Newsletter discusses online security tips from the department of labor.
The Plan Sponsor Newsletter includes ERISA definitions and financial designations and what they mean for plan sponsors, strategies for implementing financial wellness programs in a remote environment, and five tactics to increase retirement plan participation. The Participant Newsletter defines what an HSA is an determining if it's right for you.
The Plan Sponsor Newsletter includes valuable information on the process involved to develop your Investment Policy Statement, an employer 401(k) plan tax credit summary, and retirement plan committee procedural prudence. The Participant Newsletter discusses three tax tips that can help as participants approach or begin retirement.
The Plan Sponsor Newsletter discusses how to improve participant outcomes through investment re-enrollment, liability mitigation, and the importance of a qualified default investment alternative ("QDIA"). The Participant Newsletter contains a useful tax saver's credit reminder for tax year 2021.
Attached you will find a Plan Sponsor Newsletter for the month of February which discusses a Coronavirus relief rule temporarily preventing partial plan terminations and tips for avoiding the most common fiduciary errors.
The Compliance Calendar and Plan Limits Memo for plan sponsors provides reference for recurring compliance and notice requirements along with minor changes for 2021 plan limits (these were also sent out in Q4 2020). The Participant Newsletter provides essential tips on what participants should know about their work-place retirement plan.
Our Plan Sponsor Newsletter highlights post-election investment commentary, cyber security issues for plan sponsors and annual retirement plan notices. The Participant Newsletter discusses "The 10% Savings Goal" for retirement. 2020 has been a year of change, pivoting and evolution. On behalf of the entire SFP Wealth team, we wish you all health, happiness, safety and a strong 2021.
Our Plan Sponsor Newsletter highlights short-term volatility trends post-election and participant survey results around expected retirement timelines from pre-retirees. The Participant Newsletter contains ten helpful facts about employer sponsored retirement plans.
Our Plan Sponsor Newsletter highlights Empower's recent agreement to acquire MassMutual's retirement plan business, plan document retention obligations, and Roth 401(k)'s. The Participant Newsletter describes how clarifying your goals and expectations will make budgeting for retirement easier. We hope you and your employees find these useful and informative.
Our Plan Sponsor Newsletter highlights participant behaviors, plan design trends, phased retirement for an aging workforce, and financial wellness programs. The Participant Newsletter contains four tips to consider for increasing retirement dollars. We hope you and your employees find these useful and informative.