Helping Ex-Employees Prepare For The Future

September 4th, 2019

There are many employees who when they leave their job, take a lump sum distribution from their 401(k) accounts. How can an employer help transient employees prepare for the future?According to the January Current Population Survey (CPS) from the US Census Bureau, as cited in an Employee Benefits Research Institute (EBRI) issue brief, Trends in Employee Tenure, 1983-2018, February 28, 2019, over the past 35 years, a five-year employment tenure is about average number of years an employee stays at their job.

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Pension Rollovers

August 26th, 2019

Gone are the days when people worked for the same employer for 50 years. By the time we retire, most of us will have worked at several different companies, perhaps in different countries and even in different industries. In the course of your career, you probably will have accumulated pension money through a company pension plan. If you changed employers and did not move your pension, chances are good that you have more than one pension plan.

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September Checklist

August 22nd, 2019

  • Begin preparing the applicable safe harbor notices to employees, and plan for distribution of the notices between October 2 and December 2 (calendar-year plans).
  • Distribute the plan’s Summary Annual Report by September 30 to participants and beneficiaries, unless an extension of time to file Form 5500 applies (calendar-year plans).
  • Send a reminder memo or email to all employees to encourage them to review and update, if necessary, their beneficiary designations for all benefit

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.