Financial Plan
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Is Your Plan Ready to Respond to an IRS Inquiry?
- October 5, 2022
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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As 2022 comes to a close, plan sponsors and advisors should take the opportunity to review qualified plans to ensure compliance. The IRS has implemented the Employee Plans Compliance Resolution System, or EPCRS, which offers a 90-day notice for IRS audits, allowing plan sponsors to address any issues with their plan. The attached checklist will give plan sponsors a starting point for evaluating whether their plan is in compliance and ready to respond to an IRS inquiry.
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Design of Financial Wellness Programs: What Do Employees Want and Whom Do They Trust?
- July 25, 2022
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Financial Wellness programs have always been a consideration of employers sponsoring a 401(k) plan, but the value added compared to the investment in time and resources has created a barrier for plan sponsors. However, according to new statistics, it is more important than ever for plan sponsors to consider implementing a financial wellness program.
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Planning for Retirement Income Needs
- March 14, 2022
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
There has never been a greater opportunity for qualified plan professionals to assist retirement plan participants in planning for their retirement income needs. Targeted and effective plans and financial education are valuable tools when considering how plans can be designed to help retirees achieve the goal of securing their retirement.
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Key Considerations for Plan Sponsors
- January 18, 2022
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Plan Sponsors should consider the role that employers play, how employers can assist those nearing retirement, and what resources participants have available to them. Working with Advisors to creating ongoing education and communication programs is key to ensuring participants’ success in retirement.
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New and Ongoing Priorities Among Plan Sponsors
- August 8, 2021
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
The White Paper we discuss shows that the plan sponsor need for assistance has never been greater. Qualified plan professionals can assist plan sponsors in meeting all these needs.
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Pooled Employer Plans (PEP)
- June 7, 2021
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
The Pooled Employer Plan (PEP) was born on January 1, 2021, as a result of the Secure Act, passed in December of 2019. The intent of Congress was to provide an avenue for business owners to sponsor a retirement plan with the lowest amount of burden and fiduciary responsibility possible. It is too early to tell if the Pooled Employer Plan will be the retirement plan of the future, but I believe there is a good possibility it will be.
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2021 EBRI Survey Key Findings
- May 6, 2021
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
We highlight five key points from the 2021 EBRI Retirement Survey, which includes statistical information that can prove valuable information for enhancing retirement plan features and developing participant education programs. The survey also validated that the private sector retirement system is working.
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American Views on Defined Contribution Plan Saving
- February 26, 2021
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
A survey by the Investment Company Institute (ICI) polled respondents about their views on defined contribution (DC) retirement account saving and their confidence in 401(k) and other DC plan accounts.
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Department of Labor Investment Advice
- December 9, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Recently, the DOL sent to the OMB the proposed Fiduciary Advice Rule. An understanding of when a firm and its representatives provide investment advice and thus act as fiduciaries is important.
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Reflections for the End of the Year
- November 13, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
As the year draws to a close, it’s a great time for qualified plan sponsors to reflect on their goals and objectives for sponsoring a retirement plan. In addition, they should reflect on whether the plan is providing the participants with the best means possible to reach their retirement income goal.