Category Archives for "Employer-Sponsored"

Jun 07

Is a 401(k) Safe Harbor Plan Right For Your Business?

A Safe harbor 401(k) plan allows a plan sponsor to automatically pass certain annual tests to ensure compliance with IRS regulations if specific contribution, vesting, and participant notification requirements are met. Safe harbor plans generally don’t require the following compliance tests: Actual deferral percentage (ADP). A test for pre-tax elective and/or Roth deferrals by highly […]

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May 08

What Makes a Great Retirement Plan for Employers

Before you can start building the framework as to what would make a great retirement plan for your business, the executive or ownership groups need to consider why they want a great retirement plan for their employees. Four out of five employers report that their employees’ personal financial issues are impacting their job performance somewhat, […]

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Apr 21

CARES Act Summary for Your 401(k) Plan Participants

There has been a plethora of US legislation passed at a relatively fast pace over the past weeks.  From changes and extended unemployment benefits, to support for small businesses such as the Payroll Protection Program, it has likely been challenging to get your arms wrapped around it all. The CARES Act was designed to help […]

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Mar 26

7 Investment Selection & Monitoring Best Practices for Your 401(k) Plan

ERISA’s standard of prudence for Fiduciaries is not that of a prudent layperson but rather that of a prudent investment professional.  A plan Fiduciary must act “…with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use…” A […]

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Mar 26

How to Establish a 401(k) Plan Investment Committee

No matter the size of your company, having an investment committee overseeing your employer-sponsored retirement plan is a critical Fiduciary responsibility. Your committee could consist of any amount of people, including as few as two.  However, the key membership criteria are that you’re your committee should all be qualified members.  It is better to have […]

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