Auto-Enrollment and Auto-Escalation in 401(k) Plans: How to Optimize Retirement Outcomes for Your Employees

Posted on Jan 18, 2023

Auto-enrollment and auto-escalation features in 401(k) plans can greatly benefit employees by encouraging them to save for retirement at an early stage and at a high enough rate to meet their future income needs. However, these features should be reviewed to ensure they are optimized and not just offered to new employees, as existing workers can also benefit from them.

Continue reading

The Pros and Cons of 401(k) Loans and Hardship Withdrawals

Posted on Jan 9, 2023

Employers may allow employees to take loans or hardship withdrawals from their 401(k) accounts, but they come with risks and potential tax consequences. Hardship withdrawals can reduce an employee's account balance, and loans may incur taxes and penalties if not repaid. Employers should carefully weigh the benefits and risks before offering these options to employees.

Continue reading

Is a Roth 401(k) Right for You?

Posted on Dec 6, 2022

The pre-tax advantages of a 401(k) plan make it a very effective way for employees to save for retirement and lower their tax burden. Since taxes on a 401(k) are deferred until funds are actually withdrawn, the premise is that in retirement, the individual will be in a lower tax bracket than while employed.

Continue reading

Is Your Retirement Plan Still Aligned with Your Business Needs?

Posted on Nov 21, 2022

With 2023 right on the horizon, now is a good time for employers to review whether their retirement plans are still in alignment with their business needs and goals.

Continue reading

Understanding ERISA Fidelity Bonds and Fiduciary Liability Insurance

Posted on Oct 13, 2022

Fidelity bonds are an ERISA requirement for people who manage plan funds and other property. These bonds protect the plan from losses due to fraud or dishonesty, which may include theft, embezzlement, forgery, misappropriation, and other acts.

Continue reading

Defined Benefit Plans are Alive and Well

Posted on Sep 26, 2022

You’ve likely heard about a decline in the number of Defined Benefit plans. But the reality is a DB plan is still a great tax and retirement savings vehicle that can produce superior retirement outcomes for the right client. Are you one?

Continue reading

Fiduciary Considerations in a 401(k) Plan

Posted on Sep 12, 2022

It’s important for employers to understand and meet their 401(k) fiduciary responsibilities and comply with ERISA rules to ensure the proper management of their workers’ and retirees’ plan assets. A 401(k) plan must have at least one named fiduciary, either a person or entity, that has control over the plan’s operation.

Continue reading

IRS Extends Deadlines for Retirement Plan Amendments

Posted on Aug 24, 2022

This month, the IRS extended the deadlines to adopt certain retirement plan amendments for most plans. Notice 2022-33 provides plan sponsors with an extension until December 31, 2025 to adopt formal plan amendments for the CARES Act and the SECURE Act of 2019.

Continue reading

Help Employees Make Real Progress with Automatic Enrollment and Automatic Escalation in your 401(k) Plans

Posted on Aug 19, 2022

An important way you can help your employees make real progress for themselves is to offer auto-enrollment and auto-escalation features in your 401(k) plan. Both can positively influence retirement outcomes. But even if your plan includes these features, there may be reason to review them to make sure they’re optimized.

Continue reading

Does Plan Administration Take Up Too Much of Your Time and Resources?

Posted on Aug 16, 2022

ERISA's stringent requirements for Plan Sponsors have made the administration of retirement plans even more complex and subject to legal challenges. Now more than ever, outsourcing these responsibilities to a qualified 3(16) fiduciary makes sound business sense.

Continue reading


Sign Up for Future Updates