Financial Plan
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Plan Design Matters
- June 29, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
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As plan sponsors begin to evaluate their plans and the impact that the COVID pandemic has had on their retirement plan, the importance of plan design becomes clear. As the country emerges from the COVID pandemic, the time could not be better to prove the private retirement system provides a much better resource for participants to reach their retirement goals. Discussing with plan sponsors and implementing the 3 topics discussed in the DCIIA article will go a long way towards proving the private retirement system is better than any state or federally run private sector retirement plan.
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Are State Sponsored Retirement Plans the Answer?
- June 9, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
Over 28 states are in the process of developing a state sponsored plan and 12 states have implemented a state sponsored plan. While there has been a debate on the subject for several years, private sector retirements continue to be the best resource for private sector employers to provide retirement benefits for their employees.
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SECURE Act Increases Access to Retirement Plans with “Pooled Employer Plans”
- May 22, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
PEPs, or Pooled Employer Plans, will provide a very efficient way for a business owner to provide retirement benefits for employees; however, the plan must always remain in the best interest of the participants and beneficiaries covered by the plan. We’re looking at the provisions of the SECURE Act that dictate how PEPs can be used, and factors that need to be considered.
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DC Plan Sponsors React to Coronavirus with Moderation
- April 30, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
Retirement plan professionals and plan sponsors are continuing to evaluate the provisions of the CARES Act. The majority of plans have now elected to adopt some or all of the CARES Act provisions. This creates an opportunity for retirement plan professionals to create added value for plan sponsors and participants who are, or might be considering utilizing the CARES Act options.
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Plan Professionals Provide Value Amid COVID-19 Impacts
- April 16, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
The true impact on retirement plans created by Covid-19 and the CARES Act will not be determined for awhile. This is a great opportunity for retirement plan professionals to assist their plan sponsors and participants in managing the options created by the CARES Act and developing effective communication with plan participants to assist them in managing their retirement assets prudently. We offer a brief list of services that professional, qualified plan service providers can offer to plan sponsors to assist them and their participants in staying on track meeting their retirement goals.
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The Coronavirus, Aid, Relief and Economic Security (CARES) Act
- March 30, 2020
- Posted by: Jeff Atwell
- Category: Economics, Financial Plan, Resources
The Coronavirus, Aid, Relief and Economic Security (CARES) Act contains provisions to allow Plan Sponsors to amend their qualified retirement plan to create additional financial resources for their employees.
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Considering Customization for your Retirement Plan
- March 17, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Current market conditions will require employers to review the investments in the company sponsored 401(k) plan, creating an opportunity for qualified plan professionals. Qualified plan professionals can assist Plan Sponsors in evaluating a more customized approach to the investments offered to plan participants.
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Plan Leakage and the Impact of Withdrawing Savings Before Retirement
- February 24, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Leakage has been a big issue for many years, causing many individuals to accumulate less in retirement assets than they otherwise would have. This provides a tremendous opportunity for retirement plan professionals to work with plan sponsors to implement procedures or plan features which will help preserve a participant’s retirement account.
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Retirement and Financial Wellbeing
- February 12, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Professional service providers, working with qualified Plan Sponsors, have so many tools and resources available to assist Plan Sponsors in reaching the goals and objectives relating to workplace financial wellbeing. The end result will be a successful private retirement system inspiring participants to save for a dignified retirement.
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Target Fund Dates: Surprising Facts
- January 29, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
In 2006 the Pension Protection Act added Qualified Default Investment Alternative regulations, QDIA, to ERISA. One of the 3 QDIA alternatives a Plan Fiduciary could choose as a safe harbor investment is a Target Date Fund. As a result, the amount of 401(k) assets being deposited into Target Date Funds has increased substantially over the years.