Plan Sponsors Ask…Q: We have several new employees who will be involved with our 401(k) plan. How can we help them stay on the right side of their duties as fiduciaries?
You’re wise to ask. Fiduciary training can help protect individual fiduciaries, the plan as a whole and, of course, the participants. You may already know that the penalties for fiduciary breaches can be both criminal and civil, a fact that emphasizes the importance...
Q4: Quarterly Task
October Audit third quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments. Verify that employees who became eligible for the plan between July 1 and...
Understanding Investment Benchmarks
A benchmark serves a crucial role in investing. Often a market index, a benchmark typically provides a starting point for a portfolio manager to construct a portfolio and directs how that portfolio should be managed on an ongoing basis from the perspectives of both...
Saving for Retirement
How much should you save for retirement? Marlena Lee, PhD, from Dimensional Fund Advisors, discusses important factors that can help you meet your goals, like determining your savings rate, monitoring your progress, and making adjustments over time. I can't stress...
Helpful Tools & Resources for Retirees, (or soon to be,) from the IRS
It's important understand how your different sources of income will be taxed during your retirement years. For most people, they will have at least two different sources of income in retirement and for many three or more. Retirement can affect someone’s tax situation....
Maximum HSA Contribution for 2018 Under Family High Deductible Health Plan is Back to $6,900
On May 4, 2017, the Treasury Department and the IRS released Revenue Procedure 2017-37, which stated that the maximum contribution to an HSA for an individual with family coverage under a high deductible health plan would be $6,900 for 2018. On March 2, 2018, the...