Abstract: 401k plans offer important tax advantages for small businesses and their employees. If you are a business owner, you should understand these benefits when deciding whether or not to offer a 401k plan to your employees. Source: Employeefiduciary.com
Abstract: Every so often someone puts out a list of what are said to be the “best” 401(k) plans, based on varied benefits and plan design structure criteria. But for my money, here’s what the best plans do. Source: NAPA-net.org
Simulations performed by the Government Accountability Office (GAO) show that households, on average, would save enough in their DC plans over their careers to generate monthly lifetime income at retirement, as measured by an annuity equivalent, of about $2,970 in 2015 dollars. Source: PlanSponsor
Just one month ago the U.S. Department of Labor released its long awaited final rule re-defining who is considered a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). Source: Benefitslawadvisor.com
Abstract: Plan committees need to ask questions, and get answers, before offering a brokerage window. Should the committee offer one at all? If it does, what is the process for selecting and monitoring the window and its provider? This column by Fred Reish looks at these and other questions about brokerage windows in participant-directed plans. Source: Drinkerbiddle.com
The market has been very volatile within the past year. In the last several months there have been two big dips in the stock market, and interest rates are moving also. Source: PlanSponsor
Average 401(k) balances were down in the first quarter, but retirement savings rates moved to record levels, according to a new report.
The total savings rate for 401(k) savers, which combines individual contributions plus employer contributions (such as a company match and profit sharing), reached a record 12.7% in Q1, topping the previous record high of 12.5% in Q1 2008, according to Fidelity’s quarterly analysis of its 401(k) and IRAs. Source: NAPA-net.org
With more than 70% of 401(k) plans including target-date funds in their investment lineup, and a growing number of plans adopting auto enrollment and using TDFs as their default fund, you’d expect significant growth in TDF assets. Source: NAPA-net.org
Abstract: Until recently, uncashed distribution checks were thought to be a relatively minor issue for retirement plans. However, the dimensions of the issue have changed during the past decade with the widespread adoption of automatic enrollment features, increasing rates of voluntary employee turnover, and automatic distributions of smaller account balances. It's an issue that has gained the attention of the DOL. Source: 401kspecialistmag.com
Abstract: The IRS added new compliance questions to the 2015 IRS Form 5500/5500-SF, which is the annual report filed by retirement plans with the Department of Labor and the IRS. Last week, the IRS invited comments on several of the new questions. In its request for comments, the IRS has also proposed to modify some of the questions from their original form, or delete them entirely. Source: Littler.com
Abstract: A recent survey by staffing firm Accountemps indicated that nearly all (98%) of human resources managers would welcome back a returning employee who left on good terms. When it comes their 401k plans, employers who do rehire former employees should keep in mind the four considerations outlined in this article. Source: Retirementplanblog.com
After completing a questionnaire, we deliver a plan either through a visit to our office or a web conference. This plan is created and delivered by seasoned advisors with a combined 30+ years of experience and varying industry designations like CFP®, CIMA®, CLU, ChFC, and AIF®. We’ll discuss topics like budgeting, maximizing your employer’s qualified plan, debt management, tax strategies, college education and other ways to save.
Our proprietary goals-based planning software is powered by Money Guide Pro, the leader in sophisticated goal-based financial planning software and accessible to clients via secure web access. Easy to adjust to changing needs, clients can change assumptions/goals at their leisure.
We offer products constructed by Raymond James’ AMS (Asset Management Services) Institutional Research team and populated by the AMS Due Diligence team with oversight from the AMS Investment Committee. They include asset classes such as: US Large Cap Value, US Large Cap Growth, US Mid Cap Blend, US Small Cap Blend, Non-US Developed Market Equity, Intermediate Term Fixed Income, Short Term Fixed Income, Global Fixed Income, Alternative Strategies, Global Equity Strategies, and Real Estate.
Harbour Wealth Management realizes that it’s difficult and frustrating to keep up with multiple logins and passwords for the many accounts you may have such as checking, brokerage, and 401(k). Aggregation We want to help you simplify your life by taking advantage of our account aggregation feature. It allows you to view all of your accounts on one page. The secure link is a read only that updates your accounts held away on a daily basis. It is a one stop check-in for all of your accounts.
We commit to an annual face to face meeting in our offices which is usually scheduled around your birthday and a semi-annual video conference. At those meetings we will discuss the markets, review performance, update the plan, and make adjustments if needed.
The cost of the investment management and our advice may be less than the combined cost of the asset based fees and mutual fund expenses that many are currently paying in their company 401(k).
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.