…distributions from traditional Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans for 2020; waiving the 10% tax penalty for early distributions from 401(k), 403(b), 457(b) plans and IRAs, under certain circumstances; and increasing the maximum amount of a loan from an employer-sponsored 401(k) plan, from…
…and Cory Booker (D-NJ). The Retirement Security Flexibility Act (S. 2602) would improve access to retirement plans and protect against burdensome regulatory requirements. Title I, “Expanding Coverage And Increasing Retirement Savings,” would: Expand access to retirement-savings vehicles by giving employers more flexibility when setting up…
Non-profit employers have a growing list of concerns associated with their 403(b) plans; fee litigation, illiquid annuity contracts, administration of legacy assets, diminishing on site participant education, fulfilling the fiduciary obligations and the list continues. What are 403(b) plans sponsors doing today to address these…
…impact of tax reform on 2019 earnings, have helped create increased volatility and a selloff in global equities in the fourth quarter. Most analysts expect a continuation of stock market volatility in 2019. From a pension standpoint, lower tax rates have encouraged higher employer contributions…
…downsides to consider. Remember that, as with most loans, there is are interest charges. But instead of paying a bank or other institution, the borrower pays interest back into the 401(k) account; interest rates are set by the employer, and are usually 1 or 2…
…soon as possible in any retirement savings vehicle offered by their employer – especially a 401(k), if available – and to contribute enough to take full advantage of employer matching contributions. They also universally advocated the truism that it’s never too early – or too…
…consultants and a key tool to have in your arsenal. With a Defined Contribution plan, it’s the employees who make many of the contributions and take on the investment risk. Their retirement benefit is their accumulated balance. With a Defined Benefit plan, the employer makes…
…perhaps) simple: Outsourcing. Fiduciary outsourcing involves the transfer of legal responsibility for a retirement plan from an employer to an institutional fiduciary. The employer can outsource all three of the principal ERISA fiduciary roles: The named fiduciary/CEO, the trustee/CFO and the 3(16) plan administrator/COO, either…
…doesn’t take into account any state income taxes you may have to pay. Keep Your Money Working If you decide you want to preserve your tax-deferred retirement savings, you may be able to leave your money in your present employer’s retirement plan. Check to see…
…and our Harris poll results: Save early and often. Most suggested doing this by getting involved as soon as possible in any retirement savings vehicle offered by one’s employer – especially a 401(k), if available – and to contribute enough to take full advantage of…
National 401(k) Day was created in 1996 by the Profit Sharing/401(k) Council of America to promote awareness of and contributions to 401(k)s. Simply put, a 401(k) is a retirement savings account that is often offered through your employer. Each month you put aside a selected…
…Build That Nest Egg The more money you contribute the more you will earn. Seems simple right? According to the Economic Policy Institute (EPI) “Nearly half of families have no retirement account savings at all”. Consider increasing your contribution to your employer’s retirement plan each…