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Top 401(k) Plan Headaches The first step is to understand the potential problems. Here are some common issues that can cause headaches for plan sponsors: Navigating the labyrinth of retirement plan management can seem like a daunting challenge for any plan sponsor, employer or 401(k) plan administrator. The various administrative tasks, ranging from uploading payroll […]

For part-time workers, saving for retirement can be a challenge. Many part-time employees are often excluded from 401(k) plans because they often don’t meet the plan’s eligibility requirements. This includes many students, parents and individuals with multiple part-time jobs. However, new legislation that goes into effect on January 1, 2024, is about to change that. […]

In 2022, more than 50 million Americans left their jobs and in the last two years, there has been record-breaking employee turnover.[1]  While the number of employee departures has begun to decrease, it still remains higher than pre-pandemic levels. Employee turnover can cause problems for employers, such as many small 401(k) accounts being left behind […]

Looking to attract and retain high-quality talent in today’s competitive labor market? Enhancing your 401(k) plan design could be the answer. It could increase your employees’ retirement security and financial well-being while motivating talent to join and stay with the company long-term. With many businesses struggling with staffing issues, savvy executives are realizing that boosting […]

Creating a culture of wellness in the workplace is a trend that’s catching on with employers across the country. A culture of wellness encourages employee health and well-being holistically by helping them adopt healthier habits in their personal and professional lives, such as exercising consistently, eating more nutritious foods, developing healthy interpersonal relationships and taking […]

Financially stressed employees may be costing you more than you think. Not only do financial issues affect employee productivity, they can also impact your ability to retain staff. A recent survey found that more than half of stressed employees (55%) are distracted by their finances at work. Additionally, they spend an average of three hours […]

Employees are financially stressed. Weathering the last several years – a pandemic, geopolitical tensions and economic uncertainty – has only exacerbated their stress levels. Unsurprisingly, elevated stress carries into the workplace impacting operational costs including retention, mental health expenses, productivity and the company’s bottom line. Inflation, Debt and Economic Uncertainty Over the past year, inflation […]

Retirement plan fees can take many different forms, making it difficult to determine whether they’re reasonable. In this article, we’ll discuss why fiduciaries need to pay careful attention to fees and how benchmarking can help you make informed decisions. We’ll also explore some of the most frequently asked questions about retirement plan fees and how […]

An investment committee has a lot of responsibilities, including selecting and monitoring the investment options for the retirement plan; but there are plenty of resources available to help make informed decisions. By being proactive and educated on these topics, you can reduce the risk of lawsuits related to excessive fees or violations of ERISA. In […]

After a lot of excitement, Congress finally passed the Consolidated Appropriations Act which included several new retirement plan legislations. The SECURE 2.0 and other provisions strive to expand access to retirement plans, increase retirement savings, help American’s preserve income and streamline retirement plan rules. With over 92 different retirement plan provisions, we want to make […]