TPS Group Latest Newsletter: January - March 2021 (Volume 5)

Posted on Mar 31, 2021

What's inside this issue? Top Fears Of Employees Approaching Retirement; What Employers Need To Know About Cycle 3 Restatements Should Hire a 3(16) Fiduciary; Financial Wellness and Emergency Savings; Plan Fiduciary Explained; Trends for 2021 Comments from Our HR Consultants

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Financial Wellness and Emergency Savings

Posted on Mar 1, 2021

Achieving financial wellness means different things to different people. But besides contributing to a retirement plan and paying down credit card debt, creating an emergency savings account is an important part of financial planning.

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Pros and Cons of Annuities vs. Lump Sum Payouts for Defined Benefit Plans

Posted on Jan 8, 2021

While the Pension Benefit Guaranty Corporation (PBGC) protects the retirement incomes of millions of Americans by insuring certain private-sector pension plans, there are legal limits and restrictions. The PBGC does not guarantee it will cover 100% of the money workers were promised; payments are limited to set monthly maximums. Moreover, employers can and do terminate pension plans, and fewer and fewer companies these days offer traditional defined benefit plans at all.

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TPS Talks Newsletter | Nov/Dec 2020 | Issue 3

Posted on Dec 24, 2020

Inside This Issue: Holiday Message from Jim Cantey, Why Hire a 3(16) Fiduciary, CT Paid FMLA Starts 2021, Fresh Start for Your HR Department, Annual Census & Questionaries Stressing You?, Navigating guidance from three governmental bodies to ensure their clients are meeting their fiduciary responsibilities, Tips For Employers Tackling Post-Virus Telework Requests

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What Employers Need to Know about Cycle 3 Restatements

Posted on Dec 18, 2020

Every six years, the IRS requires employers to restate their qualified retirement plan documents to incorporate any recent legislative and regulatory changes that occurred since the documents were last rewritten. “Restating” is a complete rewrite of plan documents.

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Season’s Greetings from TPS Group

Posted on Dec 14, 2020

Each year during the holiday season, we take great pleasure in setting aside time from our regular work to send a heartfelt message to all our Friends and Associates. We hope this letter finds you, your teams, and your families safe and healthy.

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Top Fears of Employees Approaching Retirement

Posted on Nov 18, 2020

Even people who feel they’ve planned well and are ready to retire may experience some trepidation once they actually make the move.

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IRS Announces 2021 Cost of Living Adjustments to Various Retirement Plan Limits

Posted on Oct 28, 2020

View the 2021 vs. 2020 retirement plan limits for various types of plans, based on cost of living adjustments by the IRS.

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TPS Talks Newsletter | Sept/Oct 2020 | Issue 3

Posted on Oct 22, 2020

Important updates from your 401(k), actuarial, HR, payroll, and group medical experts.

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The Impact of COVID-19 on Employees’ Retirement Savings

Posted on Oct 20, 2020

The coronavirus pandemic has had a major economic impact across many industries, causing layoffs, furloughs, and widespread unemployment. A report released in May 2020 by the Transamerica Center for Retirement Studies presents an unsettling picture of what this means for the retirement prospects of three generations in the workforce: Baby Boomers, Generation X, and Millennials.

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Tel: (203) 234-2229
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Fax: (978) 379-8481

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Tel: (207) 854-1304
Fax: (207) 854-1305

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Tel: (716) 839-9405
Fax: (716) 839-9713

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