Retirement Times – October 2020
Many Defined Contribution retirement plan participants are uncertain as to benefits of allocating their contributions to traditional vs Roth options. This is for good reason.
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…
Participant Corner: Retirement Plan Check-Up
Retirement Plan Check-Up It is important to conduct regular check-ups on your retirement plan to make sure you are on track to reach your retirement goals. Below are a few questions to ask yourself, at least annually, to see if (and how) they affect your retirement planning. Review the Past Year Did you receive a…
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 – July 2020
Are Your Participants Experiencing Fee Imbalance? Subsequent to the 2012 implementation of ERISA fee reporting regulations, the Department of Labor (DOL) began to consider the appropriateness of the allocation of plan fees among participants.
Participant Corner: Good Health is the Best Wealth!
This month’s employee memo encourages employees to make small lifestyle changes to reduce their out- of-pocket health costs. The memo shows the difference in savings between an average-managed patient and a well-managed patient.
HOW CAN YOU PREPARE FOR HEALTHCARE EXPENSES IN RETIREMENT?
Rising healthcare costs are on everyone’s mind, even for affluent people. In fact, 69 percent of affluent pre-retirees cite rising healthcare costs as one of their top fears in retirement, according to a survey from the Nationwide Retirement Institute. In fact, 63 percent of these affluent pre-retirees describe themselves as “terrified” of what healthcare costs…
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…
FOUR BASIC STEPS FOR A SUCCESSFUL RETIREMENT
We know that most plan participants are not financial experts, and that can make planning for retirement difficult. Fortunately, there are some basic steps that you can follow to work toward a successful retirement.