Trends That Impact Retirement

April 23rd, 2019

There are some trends that will impact retirement that you should watch, although some have been on our (and probably your) radar for the last few years.

The American Retirement Association (ARA) identified seven of them in a September 2018 presentation for ASPPA. Take particular note of litigation over plan fees. Several factors have emerged among plans undergoing Read the rest of this entry »

Are You Considering Retiring Overseas?

April 16th, 2019

There is a growing trend in Bermuda for pre- and post- retirees to consider moving to another jurisdiction for the last chapter of their lives instead of enjoying their retirement years on this island. The chief reasons are the possibility of a lower cost of living and/or a more adventurous lifestyle.

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Socially Responsible Options

April 11th, 2019

What are the basics of socially responsible investing and how might it impact the fiduciary responsibilities?

When people refer to responsible investing, they often refer to ESG — environmental, social and governance. You may be surprised to learn that ESG investing has been around for more than 30 years; however, its popularity and importance have increased dramatically in the last decade.

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What is a deferred annuity?

April 10th, 2019

A deferred annuity is an insurance contract that exchanges a lump sum payment, or series of payments, for a guaranteed delayed future stream of income, installments or lump sum. Money inside the contract accumulates tax-deferred until it’s withdrawn. Returns can be variable (that is, based on market performance) or fixed. Savers sometimes use annuities to supplement income from their pension plan or Social Security. All annuity guarantees are subject to the claims-paying ability of the insurer issuing the contract, so it’s important to look closely at the strength and stability of the insurance company you’re considering.

May Checklist

April 3rd, 2019

  • Monitor the status of the completion of Form 5500, and, if required, a plan audit (calendar-year plans).
  • Issue a reminder memo or e-mail to all employees to encourage them to review and update, if necessary, their beneficiary designations for all benefit plans by which they are
  • Perform a thorough annual review of the Plan’s Summary Plan Description (SPD) and other enrollment and plan materials to verify that all information is accurate and current, and identify cases in which revisions are

Spring-Clean Your Finances: 10 Tips to Boost Savings

April 3rd, 2019

Spring-Clean Your Finances: 10 Tips to Boost Savings

Find areas in your budget that you may be able to live without.

Here are 10 quick and easy ideas for generating an extra $250 a month that can be used to pay down debt or redirect to your retirement savings:

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April Plan Sponsor Checklist

March 27th, 2019

  • If a plan audit is required in connection with the Form 5500, make arrangements with an independent accountant/auditor for the audit to be completed before the Form 5500 due date (calendar-year plans).
  • Audit first quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan
  • Verify that employees who became eligible for the plan between January 1 and March 31 received and returned an enrollment Follow up for forms that were not returned.

Squeeze Play: Gen Xers Especially Feel the Pinch

March 26th, 2019

Saving for retirement can challenge the best of us. For one group of employees, the challenge seems particularly daunting. Your mid-career colleagues, those between 36 and 56 years of age, may sometimes feel the odds are stacked against them. They are squeezed by their own debt, financial obligations to children who are not yet grown, and often, financial demands of aging parents. How, they may wonder, will they ever be able to retire?

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Planning For Longevity

March 20th, 2019

Wow, he made it. Over the past 14 years I have talked about him, written many articles about him and wondered whether he would actually make it to his 100th birthday.

He is an inspiration to me; I have often reflected on his life, especially in times of my own self-doubt, not always because of his advice but because his life is a feel-good story. Everyone loves a rags-to-riches story – self-made wealth which came from hard work, perseverance, trial and error, and an element of risk-taking.

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Spring-Clean Your Finances: 10 Tips to Boost Savings

March 14th, 2019

Find areas in your budget that you may be able to live without.

Here are 10 quick and easy ideas for generating an extra $250 a month that can be used to pay down debt or redirect to your retirement savings:

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