CARES Act

CARES Act

The $2 trillion coronavirus economic recovery bill, dubbed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a daunting 880 pages long, but it contains lots of good news for individuals and businesses, including meaningful tax relief. RMD Waiver The bill provides a temporary waiver of required minimum distribution rules for certain defined […]

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Financial Scams

Financial Scams

Just as technology advances, so do the tools cybercriminals use to target people’s savings. Wire fraud, identity theft, and email scams continue to threaten security and are growing in number and sophistication. At the time of this writing, criminals are using the heightened fear around COVID-19 to steal email credentials through scams that appear legitimate […]

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IRA Conversions

IRA Conversions

Prior to 2010, Roth conversion were subject to a $100,000 AGI limit which prohibited some from taking advantage of the tax free growth of a Roth IRA.  Since that restriction was removed, Roth conversion have become increasingly popular.  Tax rates, historically remain at very low levels enticing many to opt to pay their taxes in […]

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Building a Better Retirement Benefit: Consider Adopting Auto Features

Building a Better Retirement Benefit: Consider Adopting Auto Features

The use of auto features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.1 Many large 401(k) retirement plans offer auto features. […]

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Are ESG Funds a Good Fit for Your Plan’s Investment Menu?

Are ESG Funds a Good Fit for Your Plan’s Investment Menu?

Should You Include ESG Funds in Your Retirement Plan? Maybe, Maybe Not. ESG, or environmental, social and governance funds, can be appealing to many investors, including millennials. These funds may be viewed as a proactive way to encourage reluctant and under-prepared millennials to save for retirement.  But is it a good idea to include ESG […]

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Retirement Plan Share Classes: Understanding the Basics

Retirement Plan Share Classes: Understanding the Basics

Share Class ABCs: Choose Wisely Choosing mutual funds for your retirement plan’s investment lineup can feel like wading through a sea of alphabet soup. Fund companies typically offer multiple share classes, each sporting its own unique letter. A shares, C shares, I shares, R shares — what does it all mean? Luckily, you don’t have […]

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Effective Governance May Lead to Better Retirement Plans

Effective Governance May Lead to Better Retirement Plans

Participant-driven lawsuits are on the rise, and employers are facing heightened scrutiny of the way they manage their retirement plans. In today’s continually-evolving regulatory and legal environment, it’s more important than ever to make sure your organization’s retirement plan is both effective and compliant. A well-structured retirement plan governance program can help you pursue these […]

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The Financial Marathon

The Financial Marathon

A Marathon for Everyone Recently, I went to cheer on a friend running in her first marathon. The excitement of watching thousands of people accomplish such an amazing goal was an experience like no other. I waited at the last bend before the finish line so I’d have a good vantage point for cheering my […]

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The Dreaded 401(k) Refund: Corrective Distributions

The Dreaded 401(k) Refund: Corrective Distributions

401K REFUNDS: NOT AS GOOD AS THEY SOUND With tax season fresh on our minds, many hear the word refund and begin running down their imagery wish list of ways to spend this extra money. However, when it comes to 401(k) refunds, or corrective distributions, the excitement should be dialed back. Corrective distributions are a […]

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Plan Fiduciaries, do you need support?

Plan Fiduciaries, do you need support?

Should we have a retirement plan committee? If you are an employer or employee who has decision-making authority over your company’s retirement plan, there is a strong chance that you are a 401(k) plan fiduciary.  You have a legal obligation to operate the plan solely in the interests of the plan participants (people with retirement […]

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