Plan Sponsors Ask…Q: Our soon-to-be-retirees are sometimes unclear about how their finances will actually look in retirement. We are offering them financial wellness information, but it made us wonder about what we can learn from the Baby Boom generation’s actual retirement experience?
That’s the topic of an Insured Retirement Institute (IRI) annual survey and report, now in its eighth year. While the survey indicates a generally positive financial picture for current Boomer retirees, many are not confident with their preparedness. Fifty-eight...
Sizing Up Stocks: All About Market Caps
For investment purposes, companies generally can be categorized in one of three broad groups based on their size, large-cap, mid-cap and small-cap. “Cap” is short for market capitalization, which is the value of a company on the open market. To calculate a company's...
Health Savings Accounts vs. Flexible Spending Accounts
While there is no shortage of strategies to consider, Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two vehicles that can help individuals pay for their medical costs. With annual health care expenses coming in at more than $10,000 per...
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...