Summer Homework for Fiduciaries

As you bask in the glory of summer over the next couple of months, don’t forget the three Fs that define this cherished season — fun, Fourth of July, and fiduciary! While you’re enjoying the fruits of summer, don’t forget your fiduciary responsibilities! Ask yourself the following questions to make sure you are on top Read More…

Millennials Know It All. But, Are They Saving for Retirement?

Millennials – they’ve infiltrated the workplace and bring expertise in social media, individuality, technology and hipster bars. But, what do they know about saving for retirement? Typically, younger people don’t make retirement savings a priority. Living expenses, student debt, rent or house payments, and other day-to-day expenses mean that retirement savings take a back seat. Read More…

Ten Reasons to Roll Over Into Your Plan Versus an IRA

Do you have employees in a prior employer’s retirement plan? Should they transfer these assets to a personal IRA or into your employer-sponsored retirement plan? Review the pros and cons of an individual retirement account (IRA) versus consolidating into the current retirement plan with your employees to help them make this decision. 1. Performance results Read More…

Six Easy Steps to Keep Your Plan Assets Safe

Cyber fraud is a growing concern globally. Individuals are typically very careful to keep their bank account and email authentication information safe, but they aren’t always smart with the rest of their personal information. Participants need to be vigilant with their retirement savings accounts as well. In the past year, we’ve seen a slew of Read More…

To Roth or Not To Roth?

Today we’re going to discuss two very common, but critical, questions: Between the pre-tax and Roth plan, which is better for you? And what is the best way for you and your employees to contribute? First, let’s review the difference between pre-tax and Roth plans. We’ll begin with pre-tax. With pre-tax, the amount you contribute Read More…

How to Know Whether Your Employees Are Ready for Retirement

If you want to measure whether your employees are on track for a successful retirement outcome, here are the four pillars of retirement readiness you need to consider: Portfolio allocation. This is where we measure how employees are invested based on their age group. We perform an analysis to see if they’re properly diversified and Read More…

Avoiding 401(k) Litigation and Penalties for ERISA Violations

  Failing to manage your company’s 401k plans in an effective and forward-thinking way could potentially result in 401k litigation that could cost you time and money. Your business has a fiduciary duty to your employees to manage their funds in a proactive and practical manner. Here are some points to keep in mind when Read More…

How to encourage lower-wage employees to participate in a 401(k) plan

Offering a retirement plan is a major benefit businesses can offer to their employees; yet I often come across clients who have lower-wage employees who do not participate. Most business owners assume their lower-wage employees don’t elect to participate in a 401(k) plan simply because they cannot afford to, but in reality the the lack Read More…

401(k) Auto Enroll Success—Win Win!

During a recent Plan Review with a client, we discussed all the normal aspects of their plan— design, administration, investments, employee education, etc. This client is a start-up company in the Silicon Valley that is rapidly growing and hires new employees on a weekly basis. The Problem? Part of their problem that contributed to the lack Read More…

401(k) plans are all the same, right?

I had an interesting experience recently.  A prospective client asked me to meet with her company’s administrative support staff to go over their retirement plan management procedures. I asked each member of the staff to explain to me the various duties each performed in support of their company’s 401(k) retirement plan and the amount of Read More…