Articles

Posted on Jun 2, 2022

The Employee Retirement Income Security Act known as “ERISA” regulates 401(k) and most other types of employee benefit plans. Under ERISA, anyone who handles retirement plan funds must be covered by a fidelity bond. The bond protects the plan from losses that may result from fraudulent or dishonest acts.

Posted on May 26, 2022

The volatility in the financial markets have many 401(k) plan participants asking for guidance on how to weather the storm and manage their assets. Here are six tips participants should keep in mind in today’s unpredictable market.

Posted on May 18, 2022

A positive, consistent, and easy-to-understand communication plan is key to motivating employees to participate in your retirement plan. It’s also important to keep the lines of communication open and be available for questions. You might also consider working with your plan administrator to offer financial literacy resources for employees.

Posted on Apr 21, 2022

We strongly believe that in many cases, you will benefit by the choice, flexibility and service quality of an unbundled approach. And by delivering a custom-tailored model, we’re better able to identify and serve your unique needs and goals.

Posted on Apr 12, 2022

On March 30, 2022, Senators John Barrasso (R-WY) and Tom Carper (D-DE) introduced the bi-partisan Starter-K Act in the Senate. This bill allows employers who do not offer a qualified retirement plan to their workers to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022.

Posted on Apr 4, 2022

Connecticut has implemented a mandatory program called MyCTSavings for employers with 5 employees or more who do not currently have a retirement plan in place. Employers who already offer a qualified retirement plan are exempt, but they are required to certify their exemption online.

Posted on Mar 30, 2022

It’s a common story – business owners put everything into their businesses for years before being in a financial position to put real money away for retirement. Once they’re ready to really get going, we can suggest a number of retirement plan designs and individual plan features that can help them reach their goals. Depending on your particular situation, here’s a quick snapshot of some of the most popular.

Posted on Mar 16, 2022

Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. It is especially attractive to partners and owners who want to catch up on retirement savings and whose businesses are generating a healthy profit each year.

Posted on Feb 15, 2022

If you’re a small business owner considering a qualified retirement plan for employees, you have an incentive from the government to proceed. The SECURE Act passed in 2019 allows a tax credit of up to $5,000 for three years for plan start-up costs, which can significantly lower your out-of-pocket expenses.

Posted on Feb 10, 2022

Employers should review their employee handbooks to ensure compliance with these new law changes for 2022 regarding paid leave, harassment and discrimination, wage and hour, employment, and COVID-19.