Retirement Times – September 2020

Good News 401(k) T. Rowe Price did a deep dive into its recordkeeping data and surfaced with a few important points. Its “Reference Point Report is an annual client data benchmarking report so plan sponsors can review trends and benchmark their progress and participant behavior across the firm’s client base… ‘We continue to see the…

Participant Corner: Four Tips for Increasing Your Retirement Dollars

Four Tips for Increasing Your Retirement Dollars Historically, investors with a financial professional have tended to “stay the course”, employing a long- term investment strategy and avoiding overreaction to short-term market fluctuations. A financial professional also can help you determine your risk tolerance and assist you in selecting the investments that suit your financial needs…

Retirement Times – August 2020

It’s That Time Again! Back-to-School for Fiduciaries!Can you hear the bells ringing? It’s that time of year to review your to-do list of fiduciary responsibilities. Ask yourself the following questions to make sure you are on top of your responsibilities and liabilities. Many fiduciaries are unaware of their fiduciary responsibilities or do not understand them.…

Retirement Times – June 2020

IS IT TIME FOR A PLAN REFRESH? The duty to provide participants with sufficient information to make consistently informed retirement investment decisions is a basic fiduciary responsibility under ERISA Section 404(a). However, there could be some plan committees who feel their participants are not consistently making prudent decisions. According to a 2016 JP Morgan survey1…

Retirement Times – April 2020

Closing the Retirement Gender Gap: How Retirement Plan Advisors Can Help Despite the fact that women tend to live longer, female workers typically have lower retirement account balances than their male counterparts. Many factors may contribute to this disparity, including lower earnings, greater part-time work and time off for child and eldercare, lower levels of…

Retirement Times – March 2020

Considering a Traditional Safe Harbor Retirement Plan? It may be advantageous for a plan sponsor to consider adopting a traditional safe harbor design for their retirement plan. Adopting a safe harbor retirement plan design permits an employer to essentially avoid discrimination testing (the testing is deemed met). Remember, this testing limits highly compensated employees’ contributions…