Archive for the ‘Uncategorized’ Category

Boost Your Savings Once The Kids Leave The Nest

Thursday, December 13th, 2018

FMI - Boosting Savings After the Kids Leave the Nest

For many couples, retirement planning takes on fresh importance once their children leave the nest, especially if  they have put off savings during the child-rearing years. If this is your situation, think about directing a greater share of your income toward your retirement. It may be helpful to devise a strategy several months before you face an empty nest, figuring out how far behind you are in building your nest egg. Having a written budget is critical, as is auto-depositing your contributions. That way you’re not tempted to spend your increased income once the kids are launched.

When Plan Participants Leave Your Company

Tuesday, December 11th, 2018

FMI: When Plan Participants Leave Your Company

What happens when plan participants leave your company?

There is a provision in the Tax Cuts and Jobs Act passed December 22, 2017, that affects plan participants who terminate employment with an outstanding loan. Before passage of the law, the loan would have been due immediately.

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Accelerated Retirement Is Possible If You Follow The Right Roadmap

Friday, December 7th, 2018

FMI - Retirement Planning

Everybody imagines retiring early, but few people manage to do it. A recent Willis Towers Watson survey reported that far more working Americans are planning to retire after age 65 (46%) than before it (30%).1 Here are five steps you can take to jumpstart the process.

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2017: A Good Year For Participants

Tuesday, December 4th, 2018

FMI 2017: A Good Year for Participants

Auto Features Contributing to Participation, Average Balance Increases

It was a good year for individual account plans, including 401(k)s and 457s. In fact, 2017 may go in the record books as the first year the number of plans with an average auto-enrollment deferral rate of 6% exceeded the number of plans with a default deferral rate of 3%, as it has commonly been.

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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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