Archive for November, 2018

December Checklist

Friday, November 30th, 2018

FMI December financial checklist

  • Prepare to send year-end payroll and updated census data to the plan’s recordkeeper in January for year-end compliance testing (calendar-year plans).
  • Verify that participants who terminated during the second half of the year selected a distribution option for their account balance and returned the necessary
  • Review plan operations to determine if any ERISA or tax- qualification violations occurred during the year and if using an IRS or DOL self-correction program would be

Consult your plan’s financial, legal or tax advisor regarding these and other items that may apply to your plan.

Planning Finances As A Single Parent

Tuesday, November 27th, 2018
FMI planning finances as a single parent

 

[Written by Carla Seely]

Organizing and planning for your family’s financial well-being can be challenging at the best of times. However, there are many challenges involved in managing and maintaining a household as a single parent. Being a single parent means you have less money to spare, and there is a pressing need to have a solid long-term financial plan because in most cases there are no alternative sources of income. (more…)

Open Enrollment Season

Tuesday, November 13th, 2018

FMI Open Enrollment November

This is a quarterly reminder to take advantage of Open Enrollment at your company, which usually happens in November. This is a good time to make sure you are maximizing your retirement account contributions, adjusting tax withholdings for the upcoming years, and checking your overall benefits such as life insurance, health savings accounts (HSAs) or flexible spending accounts (FSAs).

Bond Funds May Help Diversify Your Portfolio

Thursday, November 8th, 2018

Most investment experts talk about the benefits of diversification — essentially, mixing some stocks, bonds and cash in your portfolio. Having too many eggs in one basket, so the reasoning goes, means that you could wind up with broken eggs if the basket falls.

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Helping Employees Stay on the Right Side of Their Duties as Fiduciaries

Tuesday, November 6th, 2018

FMI Helping Employees Stay on the Right Side of Their Duties as fiduciaries

Fiduciary training can help protect individual fiduciaries, the plan as a whole — and, of course, the participants.

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