Where They Stand, Where They Are Headed: Can You Help Employees Save (or Save More)?

August 14th, 2019

How realistic are employees about the true state of their retirement savings? While many among the three primary generations that make up today’s workforce are feeling pretty good about the future, all three may be seeing things a little optimistically.

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Get the Right Amount of Investment Advice

August 12th, 2019

Putting together your plan doesn’t have to mean going it alone.

You’ve decided to save for retirement by signing up for your company retirement plan. After you’ve settled on the investment profile that best suits your style of investing (say, conservative, aggressive, or somewhere in between), the next most important decision you can make is how to match your style to your plan’s investment options. This part of investing is called asset allocation.

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Financial Literacy: Employees Who Know More Save More

August 7th, 2019

Financial wellness is important for individuals and their employers, in part because of the role it may play in retirement. Individuals benefit when they are financially healthy, because it makes them more prepared to retire on time and with enough money. Companies benefit, too, because along with the potential for better-controlled benefit- and other employment-related costs, on-time retirements make room for promotions, new hires, and fresh ideas.

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Confused How the New Tax Law Affects You?

August 5th, 2019

You may need to reconsider how you file your return

In 2018, the most significant changes to US individual taxes since 1986 took effect. Many taxpayers were happy with their increased paychecks during the year, but surprised that they had taxes to pay or a smaller refund at year-end. Now that there’s more clarity in the rules, and a better understanding of how the Tax Cuts and Jobs Act affects your personal tax situation, you may want to adjust your withholding to reflect the changes. Read the rest of this entry »

Being Financially Independent

July 26th, 2019


I was raised in a middle-class family of six. My father worked while my mother stayed at home to look after the family. I come from what is defined as “Generation X”, or what others term the “middle-child generation” – a generation which is self-reliant, savvy, and somewhat calculating.

I was raised from day one to be independent. It was drilled into me at a very young age to never rely on anyone but myself. This was partly due to my parents having their hands full and being unable to dedicate all of their time to us, but it was also Read the rest of this entry »

August Checklist

July 25th, 2019

  • Begin preparing for the distribution of the plan’s Summary Annual Report to participants and beneficiaries by September 30, unless a Form 5500 extension of time to file applies (calendar-year plans).
  • Submit employee census and payroll data to the plan’s recordkeeper for mid-year compliance testing (calendar- year plans).
  • Confirm that participants who terminated employment between January 1 and June 30 elected a distribution option for their plan account balance and returned their election Contact those whose forms were not received.

Increasing 401K Contribution – social media only, no blog

July 18th, 2019

With changes in the new tax law, you may have decided to lower your federal tax withholding so that you’re taking home more pay. It may be very tempting to use a fatter wallet to buy more things. But if you are falling short of your retirement goals, consider increasing your 401(k) contribution instead.

Balancing Act: Income, Expenses and Withdrawals

July 12th, 2019

In projecting what you’ll need to save in order to generate enough retirement income, it helps to (1) prepare a realistic household budget and (2) understand what types of expenses you’ll have once you stop earning a regular paycheck.

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What 401 (K) Records Do You Need to Keep?

July 8th, 2019

Just as you do with your personal income tax documents, you need to maintain records related to the plan. This is for a couple of reasons, one of which is being ready to defend actions and decisions if the plan is ever audited. We suggest you review the IRS and the DOL websites for complete information about what you need to keep and for how long.

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July Checklist

July 3rd, 2019

  • Conduct a review of second quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments.
  • Verify that employees who became eligible for the plan between April 1 and June 30 received and returned an enrollment form. Follow up for forms that were not returned.
  • Ensure that the plan’s Form 5500 is submitted by July 31, unless an extension of time to file applies (calendar-year plans).