The SECURE Act Becomes Law in 2020 The Setting Every Community Up for Retirement Enhancement Act (aka SECURE Act) was passed by Congress and will become law January 1, 2020. There is a lot to unpack beneath the surface, so let me give you a high-level summary. As I...
Options to Choose, Not Choose, or Defer to a Later Date Not all plans include the so-called “In plan conversions” detailed below, which allow existing pre-tax 401K dollars to be converted to after-tax ROTH 401k dollars. They can be a good way to build tax-free income...
Social Security – Fix or Fumble the Political Football The Center for Retirement Research at Boston College reports that the Social Security “trust fund” is due to deplete its surplus reserves by 2035. Contrary to sensationalized reports, the authors illustrate the...
The owners and plan trustees wanted to increase plan participation rates, especially with the younger, lower earning employees who make up most of the workforce. Due to the nature of the business (120 employees in multiple locations) the broker from a large...
I thought I would highlight a few trends for you in 401k Plan Administration as we head into 2018. A continued trend and concern for employers is employees who are stressed about their personal finances. This often leads to lower productivity; and for employees who...
Last month we reviewed some differences and similarities between 401ks and IRAs that can create cost and confusion. Yet another difference you and your employees should know about is beneficiary designations. This applies to 401ks, IRAs, insurance policies, annuities,...
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