The Loan They Never Take May Make All the Difference

Posted on Aug 7, 2019

Loans are meant to be repaid, of course. Hardship withdrawals, by contrast, are not. They are allowable early withdrawals and absolutely reduce an employee’s retirement account balance.

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It’s a Juggling Act: How to Save for Retirement and Still Pay Your Bills

Posted on Jul 26, 2019

When you’re in your twenties and thirties, retirement seems like a long way off. Steve and Kim, both Millennials with a new house, two cars, and a baby on the way, could barely fathom how they would meet all the financial responsibilities of being homeowners and soon-to-be parents, much less save for retirement

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Auto Enrollment and Auto-Escalation

Posted on Jul 11, 2019

Saving for retirement takes time and perseverance. And, the need to start saving as early as possible is clear. So how can you help your employees get started saving and establish a disciplined savings path toward retirement?

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Dangers of not using accurate data for compensation benchmarking

Posted on Jul 1, 2019

Accurate compensation benchmarking helps organizations maintain a competitive edge, ensure equitable and defensible pay practices, and comply with wage and hour laws. Compensation benchmarking is key to making data-driven decisions regarding what is likely the organizations largest expense Most organizations spend around 80% of gross revenue on employee compensation and benefits.

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Plan Fiduciary Services and Why They Matter

Posted on Jun 27, 2019

You may not recognize that, as a sponsor of a qualified retirement plan, you have a very important fiduciary role based on your control and authority over the administration of your plan . In your capacity as fiduciary to your plan, you have a variety of specific responsibilities you must manage– or –outsource to a professional, qualified third party.

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Recordkeeper/Administrator Renews Certification To Industry Best Practices

Posted on Jun 20, 2019

CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of TPS Group, headquartered in North Haven, CT as adhering to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers

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Should You Refinance Your Student Loans?

Posted on Jun 10, 2019

If you’re struggling to pay down your student loans, you’re not alone. About 44.7 million Americans carry student loan debt, with an average monthly payment of $393.00[1] It’s a hefty sum, especially if you’re fresh out of school and not making a high salary. With an average debt balance at just under $30k, recent graduates face years of payments and as a result, may postpone marrying, buying a home or other large purchases, saving for retirement, or starting a business.

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When to Set Sail with Safe Harbor

Posted on May 30, 2019

Many company owners actively seek to maximize their 401(k) contributions each year. That’s a great goal, but it can be problematic if your plan fails to meet the nondiscrimination rules. Adding a Safe Harbor provision can confidently address this issue while providing important benefits to your company and employees.

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Social Media in the Workplace: Productivity Killer or Boost?

Posted on May 13, 2019

Social media is here to stay and it’s a normal part of life for most employees. Given this reality, employers can harness the advantages and lessen the risks by establishing and enforcing a clear and comprehensive social media policy.

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Financial Wellness Is Essential to Saving for Retirement

Posted on May 2, 2019

As a business owner, you know just how important debt management, credit card responsibility, and emergency funds are to a stable financial future, and at the same time, you’re likely aware of how difficult it is for many people to establish a plan to make this their reality.

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