The Benefits of Matching Retirement Contributions

As the unemployment rate has dropped, hiring has grown increasingly competitive – especially for businesses with highly-specialized positions. It’s important to understand how retirement matches factor into the hiring process and how they can financially benefit your company. Here are a few reasons why offering a retirement match helps your business. Competitive Hiring If you Read More…

Four Reasons to Integrate Health Savings into your Retirement Plan

As Americans look into the future and towards retirement, many understand that maintaining their health will be an important part of their overall quality of life after they stop working. However, uncertainty around healthcare costs – both now and in retirement – is a major financial worry among Americans preparing for retirement. So how can 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…

Four Ways to Increase Employee Retirement Contributions

As a retirement plan sponsor, you want your employees to save the most they can in order to reach their maximum retirement potential. A significant amount of research says that you can improve both employee participation and their saving rates. Here are four ways you can help your employees start building a confident retirement: Boost 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…

Department of Labor Issues Relief Guidance for Victims of California Wildfires

Bill Tugaw, Governmental Plan Practice Leader   The U.S. Department of Labor (DOL) recently issued benefit plan guidance and relief for plans and participants affected by the 2018 California Wildfires.  The DOL recognizes that plan sponsors and participants may be affected in their ability to achieve compliance with various regulatory requirements.  The guidance generally applies Read More…

Repay Student Loans or Save in a Retirement Plan? Why Not Both?

Joel Shapiro, JD, LLM, Senior Vice President, ERISA Compliance   Many employees feel squeezed to both pay off their debt and save for their future. A recent Private Letter Ruling (PLR) opens the door for employers to help them. The average student graduating in 2016 has $37,172 in student loan debt.¹ According to the New Read More…

Why You Should be Vigilant About Your 401(k) Fiduciary Duty

Companies that offer a 401k plan under the provisions of the Employment Retirement Income Security Act of 1974 (ERISA) have a fiduciary duty to their employees. Living up to these fiduciary responsibilities is essential to prevent legal actions against the company and to protect its reputation among potential employees in the labor pool. Working with Read More…

Three Ways in Which 401(k) Employee Education Works for Your Company

Providing 401k employee education solutions for staff members can ensure that they understand the value of these plans and the ways in which saving for the future can benefit them. Working with a 401k advisor or manager with proven experience and expertise can be a practical step in the right direction for most businesses. A 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…