Some 401(k) plans allow participants to take loans, and others do not. It is quite a controversial subject, with some arguing participants should be empowered to access their savings, while others prefer a more paternalistic approach to help ensure retirement …
The IRS recently announced the contributions limits to retirement plans for 2021. They kept the maximum contribution limits and catch-up contributions the same as 2020 for 401(k), 403(b), and 457(b), plans. Participants can contribute up to $19,500 in 2021, plus …
ESG funds, those that build investment portfolios focused on environmental, social, or governance-related issues, have become a hot topic the past few years. While such funds have been around for many years, they have gained assets, media attention, and credibility …
It is common knowledge that Americans are reaching retirement in worse financial shape than the generation before. Countless articles decry the coming “American retirement crisis” and the litany of reasons for it. No matter why it occurs, the solution is …
The U.S. Department of Labor (DOL) final rule on electronic disclosures for retirement plans went into effect this past July. This means that plan administrators now have the option to use electronic delivery as a default for certain disclosures, provided …
The three main players in the 401(k) world are the employees (participants), the employer (plan sponsor), and third-party service providers. Let’s meet the third-party service providers: Custodians One of the many government-mandated requirements surrounding your 401(k) plan is that employee …
The rent in your 401(k) plan is likely too high. Even worse, a lot of the time neither employers nor employees know just how much they’re paying, to whom, or even that they’re paying at all. Focusing on the fees …
As the primary retirement savings vehicle for many employees, it’s crucial to get a 401 (k) plan right. Yet, offering and maintaining a plan can be cumbersome. To help meet the fiduciary obligations and ease the administrative burdens, here are …
