Aligning Plan Design with Client Goals Most of us live in homes that were not custom-designed for us. We adapt to them rather than expect them to be optimized to how we like to live. Most retirement plans are sold the same way. Companies buy…
…have. Let’s talk about two of them – namely, things we can address in plan design and things we can communicate to help set expectations. In plan design, our first goal is participation. To that end, auto-enrollment has been proven to be effective in getting…
Designing an effective retirement plan that helps meet a plan sponsor’s objectives and improves employees’ financial wellness can be challenging, especially if certain plan design considerations are not taken into account….
Designing effective qualified retirement plans that meet a plan sponsor’s objectives has become somewhat of a lost art. The reasons are many: Cookie-cutter designs are easier; safe harbor designs get media attention; the flexibility of modern plan documents are overlooked; and pre-approved plans can satisfy…
Designing effective qualified retirement plans that meet a plan sponsor’s objectives has become somewhat of a lost art. The reasons are many: Cookie-cutter designs are easier; safe harbor designs get media attention; the flexibility of modern plan documents are overlooked; and pre-approved plans can satisfy…
Designing effective qualified retirement plans that meet a plan sponsor’s objectives has become somewhat of a lost art. The reasons are many: Cookie-cutter designs are easier; safe harbor designs get media attention; the flexibility of modern plan documents are overlooked; and pre-approved plans can satisfy…
…worker-need has shifted from asset accumulation to securing guaranteed retirement income. The pendulum is swinging back in favor of DB plans—but not to the legacy designs of the past—but to those that have incorporated defined contribution (DC) elements. Hybrid cash balance designs are soaring in…
…have the plan design conversation? Cash Balance 101. Our virtual classroom is open and we want to provide you with the knowledge you need! Core Curriculum Plan Design best practices Strategic selection – which clients may be the best fit and why Talking points for…
…plan design flexibility. These plans can be especially helpful if clients are close to retirement age, but they’re not for everyone. Unlike profit-sharing plans with discretionary contributions, Cash Balance plans do require a mandatory annual contribution. That tends to favor professionals with an income that’s…
…how difficult it is for many people to establish a plan to make it happen. There isn’t a silver bullet to financial wellness, but it’s important to recognize that part of good retirement plan design is ensuring that the people for whom it’s designed can…
When to Set Sail with Safe Harbor You already know that a 401(k) is a very popular retirement plan and, like other plan designs, it allows employees to take advantage of tax deferrals on contributions and earnings while their money accumulates for retirement. To enjoy…
…flexibility in getting the exact qualities and features we want. In retirement plan terms, that can be a good way to think about the difference between a bundled solution and an unbundled solution. In a bundled approach, the client typically accepts a standardized plan design…