401(k) Force-Outs and Forfeitures: Managing Assets After Employee Departure
401(k) Force-Outs and Forfeitures: Managing Assets After Employee Departure Former participants’ small balance accounts could put you and your plan at risk. Here’s how to manage them. When an employee leaves your company, they might leave their 401(k) savings behind. Even though the employee has moved on, you still have administrative and fiduciary responsibilities towards […]
A Cybersecurity Checklist for Employers
A Cybersecurity Checklist for Employers It is more important than ever to prioritize the security of your company’s 401(k) plan. The Department of Labor (DOL) has recognized this urgency and has issued recommendations to help employers safeguard their plans. For plan fiduciaries, there are many ways you can apply these best practices to effectively manage […]
Is It Time to Benchmark Your Company’s Retirement Plan?
Is It Time to Benchmark Your Company’s Retirement Plan? While your 401(k) plan may not have a chirping reminder, regular reviews, fee benchmarking, and a prudent process are key. Just as we routinely replace the batteries in our smoke detectors, it’s equally crucial to give your company’s 401(k) plan the attention it deserves. Often, retirement […]
Mastering the Art of Savings Buckets
Mastering the Art of Savings Buckets If you want to help your employees in their financial journey, giving them resources on saving best practices is a good place to start. Savings buckets involves dividing money into separate accounts (buckets) each with a specific purpose. Rather than blindly putting money to the side, this gives employees […]
An Employer’s Guide to 401k Plans: A Four-Part Series (Part II)
An Employer’s Guide to 401k Plans: A Four-Part Series (Part II) Fiduciary Excellence in 401(k) Plans Understanding Fiduciary Responsibility in 401k Management Welcome back to Part II of our insightful “Employer’s Guide to 401k Plans” series. Following the foundational knowledge laid out in Part I, we now turn our focus to a topic that […]
Unlocking Tax Relief and Employee Appreciation: The Power of Profit Sharing
Unlocking Tax Relief and Employee Appreciation: The Power of Profit Sharing Profit sharing is not just a tool to reduce your company’s tax liability; it is also a powerful means of expressing gratitude towards your employees. As we close the books on last year, employers often find themselves looking for ways to lower their impending […]
5 Helpful Ways to Organize Your 401(k) Fiduciary Files
5 Helpful Ways to Organize Your 401(k) Fiduciary Files Discover top strategies for maintaining organized 401(k) fiduciary files with best practices for compliance and peace of mind. As a plan sponsor, one of your primary responsibilities is ensuring that your company’s retirement plan operates smoothly and within the boundaries of compliance regulations. This is no […]
2024 Compliance Calendar for 401(k) Plans
2024 Compliance Calendar for 401(k) Plans Stay ahead of deadlines with help from our annual Compliance Calendar. If you have any questions about deadlines or information requested, please contact us to review today! If you’d like to speak to us about your 401k, please click on the link below to schedule time with Larry Heller, CFP® […]
An Employer’s Guide to 401k Plans: A Four-Part Series (Part I)
An Employer’s Guide to 401k Plans: A Four-Part Series (Part I) In this comprehensive guide, we will cover everything you need to know about these retirement savings plans, from understanding the objectives and plan designs to the importance of employee education and wellness. So, let’s dive in and explore the key features, advantages, and considerations […]
Why Plan Fiduciaries Need to Pay Careful Attention to Retirement Plan Fees
Why Plan Fiduciaries Need to Pay Careful Attention to Retirement Plan Fees Competitive benchmarking is a way to measure and compare fees associated with running your retirement plan. Explore the most frequently asked questions about plan costs and benchmarking. Retirement plan fees can take many different forms, making it difficult to determine whether they’re reasonable. […]