…everyone’s suggestions for improvement and have created a culture where everyone’s voice counts. We Encourage Work Life Balance Our paid vacation time and flexible work arrangements help our employees be at their best, so they can give their best. We Practice What We Preach We…
“Attracting and retaining talented employees is one of the biggest challenges facing banks today. Benefits can be a game changer. For employers competing for job candidates, a comprehensive benefits package may tip the scales for a candidate who’s considering multiple offers. Your total rewards package…
…for its employees. The economic landscape of 75 years ago was of course vastly different from what it is today. Most workers in the U.S. could enjoy their golden years via their company’s pension, as well as the Social Security program, then a relative newcomer…
…maximum allowable employee 401(k) annual contribution from $18,000 to $16,000 and would eliminate the over 50 catchup provision.2 While the difference seems small, a $2,000 reduction compounded annually over 30 years could potentially lead to a loss of nearly $133,000 in earnings for retirement. For…
…of workers equals employers’ demand for workers. If the market’s hourly wage (where supply equals demand) is $7.40 and the minimum wage is raised to $8.00, there will be a surplus of workers and employers may have to cut back on hours and/or employees. Second,…
…responsibility for ensuring that they are done right. Included in those fiduciary duties is the compiling and filing with the U.S. Department of Labor (DOL) of Form 5500, which contains information about an employee benefit plan’s financial conditions, investments, and operations. In general, all retirement…
…the employees. Not everyone does that.” “A lot of these TPAs are not proactive, but in many cases are reactive,” agreed another Pentegra team member. “That can lead to all kinds of headaches.” In another case, a Pentegra employee working with a new client discovered…
Many retirees seek to relocate after their careers are over, for a variety of reasons: Wanting to downsize, to live in a community of like-minded (and similarly aged) people, or moving closer to (or, in some instances, further away from) family and friends. But, assuming…
2020 was an unusually busy year … and not just for the most obvious reasons. Legislatively, the retirement savings industry was faced first with the Setting Every Community Up for Retirement Enhancement (SECURE) Act – actually signed into law on Dec. 20, 2019 — the…
Despite widespread evidence to the contrary, many American workers appear to still believe that Social Security benefits will be enough to see them through their retirement. Whether that’s true depends on a number of factors affecting each individual. But the nation’s general reliance on Social…
A recent article in the New York Times bore the eye-catching title “How to Retire in Your 30s with $1 Million in the Bank.” While that seemingly unlikely premise brought to mind the old Steve Martin line about how to be a millionaire and never…
Despite the evidence that, in general, those who have retired – especially those who have been retired for a significant amount of time – are spending less and at a slower rate than might have been assumed, there would seem to be little reason to…