…expensive as markets move. This is only exacerbated if errors are not discovered until much later. Good data is one thing, but there’s another huge assumption – and that is payroll data needs to be provided timely. Rules say that plans must generally deposit contributions…
…plan landscape. Key Items The SECURE Act – provisions effective in 2021 The CARES Act – highlights from the Act and recent IRS notices clarifying certain provisions The Final DOL Rule on Financial Factors in Selecting Plan Investments The Securing a Strong Retirement Act of…
…a Strong Retirement Act (SSRA) 2. Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act 3. Enhancing American Retirement Now (EARN) Act Gain a better understanding of what these legislative changes could mean for your retirement plan….
…to help. Talk to us about how we can create effective programs to talk with employers and communicate more effectively about what these mean and how to take advantage of them. It’s a way to clearly separate yourself from your competition while establishing a key…
…the difference. Here are few ideas to begin the discussion: Talk about their workforce. It’s not just a matter of head count, it’s about understanding their age groups, their needs, and their investment experience. Talk about their goals. For example: Is the purpose of the…
Our PENTalk provides an overview of the Pentegra Defined Benefit Plan for Financial Institutions Pension Valuation Process and Results. Included in the PENTalk will be a discussion of: The Multiple Employer Plan Structure Principal Fiduciary Roles and Responsibilities Results for the Plan Year 7/1/2022 –…
…based on published mortality factors. And even though investment companies or recordkeepers may provide information or services to help, it’s the individual’s responsibility to calculate their RMDs each year. After all, service providers may not know about other investments or retirement plan accounts a person…
…withdrawals per year may not be subject to any plan fees or charges. ESA distributions are not subject to the 10 percent early withdrawal penalty tax. Account investments are conservative ESAs may be invested in cash, interest bearing deposit accounts, or principal preservation accounts designed…
…retirement portfolio Helps to mitigate employer investment risk and volatility May create less of a personal stake in retirement savings for participants Lower deferral rates may impact plan compliance testing No self-direction of investments for participants May create less of a personal stake in retirement…
…let’s keep it relatively simple. Employers (or “plan administrators”) are always considered fiduciaries of their plans. They are normally responsible for the day-to-day administration of plans. This involves many duties, including: selecting appropriate plan investments, notifying employees (and enrolling them) when they are eligible to…
…how long Jenny would work for Acme, how much she would be making at the end of her career, or how much the plan would earn from investments over the years. So sometimes complex actuarial calculations must be made to determine how much Acme must…