Newly released research has uncovered an unsurprising trend: The Covid-19 pandemic has affected many Americans’ approach to their retirement plans. What is perhaps surprising, however, is how many people expect to retire earlier than they had originally planned. According to a survey conducted by Northwestern…
A recent survey from TIAA shows that nearly half of Americans are worried about running out of money in retirement – while the remainder say they are more concerned about running out of the time they deem necessary to do what they would like to…
How does one go about assessing a third-party fiduciary for a company’s retirement plan? I thought this might be a good time to revisit the issue, and to remind readers of what they should look for when considering an independent fiduciary. When it comes to…
They are new for 2022—Groups of Plans (GoPs)—or as the Department of Labor (DOL) has begun to refer to them for reporting purposes, “Defined Contribution Group Plans.” The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub. L. 116–94, created GoPs, effective…
…contributions. Your role as a trusted advisor is crucial to both your relationship with the plan and plan sponsor, but also to help employees navigate past their own biases. Talk to us about expert plan design and plan communications that can help drive better outcomes….
“Do you have clients who are searching for opportunities for greater tax deductions? What if there was a way to provide help to your client while also maximizing benefits for themselves and their key employees? A cash balance plan may be the answer! Take a…
…it should actually be quieter. This material is provided solely for informational purposes and does not constitute investment advice on the matters addressed. Neither Pentegra Services, Inc., its subsidiaries, nor any of their respective employees intend that this material should be relied on as investment…
…increasing employee participation. And we know that benchmarking reports generally don’t address these things either. We also know that much of the work we do is behind the curtain – clients don’t see it. And, what they don’t see, they may not value. That’s why…
…need. Plan designs can vary in important ways. For example, depending on the plan: contributions can be discretionary or mandatory. They can favor older employees over younger ones. They can accumulate a balance like a 401k or a promised benefit as in defined benefit plan….
…those people had taken out two or more such loans. Tellingly, 44 percent of those who had taken loans said they regretted the decision. Still, the temptation is there, and it is very real. If the 401(k) plan allows, the participating employee can take advantage…
…the case with a Roth IRA. A Plan Sponsor Council of America (PSCA) survey published earlier this year found that three-quarters of its respondents “strongly agreed” that eliminating or reducing the pre-tax benefits of 401(k) or 403(b) retirement savings plans would discourage employee savings in…
…like a good time to revisit the topic and provide some updates. Discussions about changes to the fiduciary standard as applied under the Employee Retirement Income Security Act of 1974 (ERISA) took some five years, with the new fiduciary rule finalized by the U.S. Department…