• 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

Young/new employees dive into stocks

Some benchmarks in the stock market have returned to where they were before the recent recessions, bubbles, and scandals. Others, though, may never be the same. Whether that’s good or bad you can decide for yourself.

Back in 2007, fewer than half of 401(k) plan participants then in their twenties invested their account balances in stocks. Flash forward to year-end (more…)

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 (more…)

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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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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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 Money inside the contract accumulates tax-deferred until it’s withdrawn.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.

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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