Introducing 401(k)ompass, our new video series! Each video is structured for 2 minutes or less and will provide practical information to help you manage your company’s 401(k) plan. Join host Andrew Blankenship in our pilot episode as he walks you through some common pitfalls retirement plan sponsors can overlook.
Stay tuned for more expert insights and practical tips to optimize your 401(k) plan management.
Planning for retirement means making the right choices based on your career, income, and long-term goals. With so many options available, understanding the differences between retirement accounts can help individuals and businesses make informed decisions. Renn Williams was recently featured in U.S. News & World Report, sharing insights on various retirement savings options, including solo 401(k), 403(b), 457(b), IRAs, and Health Savings Accounts (HSAs), outlining how each plan works and who may benefit from them. Renn addressed factors like tax benefits, contribution limits and administrative requirements, highlighting the importance of selecting a plan that aligns with both short- and long-term needs. …
This video is the final installment in our four-part series on Plan Design, focusing on how to create a well-structured loan policy within your retirement plan. Retirement plan loans are intended as a last resort for emergencies, but participants often use them for everyday expenses. This can create risks for both participants and plan administrators. Establishing clear guidelines in your loan policy can mitigate these risks and protect participants from potential financial strain. Consider these best practices for loan policies: Effective loan management also involves ensuring payroll deductions are accurate and timely. Some recordkeepers offer tools like payroll integration, linking bank accounts for…