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IRA vs. 401(k): How to Choose

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How to Prepare for a 401(k) Audit

Do ESGs Fit Into Our Retirement Plan?

Diversity, Equity and Inclusion and its Impact on Retirement Plans

Newsletter: Fiduciary Plan Governance Edition

The Cost of Cybercrime and Tips to Avoid It

Your Guide to Understanding DOL Audits

How Does Your 401(k) Plan Compare

Building Turnover Resistant Benefits

Stay the Course

This Month's Newsletter

Benchmark Your Way to Success

If it has been over a year, it may be time to benchmark your retirement plan, but it doesn’t have to be a chore this time around. After your review, you should feel more confident with your plan’s design, employee...

A Guide to Workplace Retirement Plans

Help your employees save with a plan that fits your unique organization! Each type of retirement plan comes with its own set of features and tax advantage strategies for employees and employers. Knowing the different types of workplace...

Do your employees know how taxes impact their 401(k)?

Your employees may have questions about one of the first decisions they will need to make – do they want to contribute to a Roth 401(k) or Traditional 401(k)? No matter how you slice it, taxes, income brackets and contribution...

Measurement and Strategic Planning Edition

As the first half of the year phases out, it’s time to focus on measuring and begin strategic planning for your retirement plan. There’s a lot of new items on the agenda this year, from the CARES Act rules for repayment of...

CARES Act Clean-up: Sharp objects could be hidden within your retirement plan

The CARES Act gave plan participants quick access to funds during the COVID crisis, although only about 6% of participants took advantage of the options offered.[1] However, as a plan sponsor you must understand your own obligations...

SEPs, MEPs and PEPs — What’s the difference?

Just ask anyone: Uncle Sam and the retirement industry love acronyms. Another was added in December 2020—PEP—which conveniently rhymes with MEP and SEP. The three plan types are 401(k) cousins[1] meaning they share many...

Why Employers Should Consider Plan Design Updates Before This Important Deadline

For the millions of business owners that offer a workplace retirement plan, the COVID-19 pandemic created many financial difficulties. However, as the economic climate improves, there is an opportunity for employers to refresh their...

May Market Matters

The United States continues to make progress against COVID-19 with the pace of vaccinations accelerating, over 32% of the U.S. population has been fully vaccinated as of May 9. Meanwhile, daily COVID-19 cases and fatalities continue...

Financial education is necessary for your employees to make smarter decisions about their money

Each of your employees is unique with their own individual lifestyle path. That said, your employees need guidance to make smarter decisions about their money so they can learn not only how to save today but how to build wealth for the...

Employees Financial Worries are Impacting Your Bottom Line

When employees are financially stressed, they spend three or more hours a week – approximately 150 hours per year – worrying about personal finances or dealing with them at work.[1] A financial wellness program is a soft...

Help employees confront their financial fears with these 3 actions

30% of Americans don’t have a budget. In fact, 3 in 5 don’t know how much they spend last month, and the median household retirement account balance in America is $50,000. One if not all of these statistics could exist in...

The importance of normalizing savings, stopping retirement setbacks, and more

We are excited to welcome Q2 with the theme of Financial Wellness! This quarter, we are going to touch on some important topics that impact your bottom line and the financial health of your employees. The importance of normalizing...

Stop Retirement Savings Setbacks

The global pandemic has had a staggering effect on the economic lives of millions, driving them to actions that could have long-lasting effects on their retirement savings. Facing unprecedented strain caused by the COVID-19 crisis,...

Normalizing Retirement Savings Habits

What does all this say about retirement readiness in America? More importantly, what does it indicate about the effectiveness of workplace retirement plans? The data above clearly demonstrates that for far too long and far too many...

5 Ways to Promote Greater Productivity Through Financial Wellness Programs

Employees are worried about their finances. They worry about them in the evenings, on weekends and during working hours. Plus, with the increased stress caused by the pandemic, it’s no secret your workforce could use some help....

Your Money Matters

Our Your Money Matters newsletter features the perfect time to give the household budget a check-up, tips on insuring your teen driver, a quick guide on checking to see if you have unclaimed money and an overview on the link between...

4 Actions to help plan sponsors reduce retirement plan litigation

Your company retirement plan should be a valued benefit, not an open door for lawsuits! How can you reduce your fiduciary liability, protect yourself and your participants? Here are four straightforward actions to take to help reduce...

New Guide: Annual Retirement Plan Checklist

As a plan sponsor, you are responsible for keeping your plan in compliance with government regulations. One of the important areas of compliance involves the many documents that are part of plan administration. These documents must be...

New Infographic: Tips for wellness in the winter season

It’s winter. From palm trees in Florida to snow in Alaska, winter means different things to different folks. “Snowbirds” head south to the sun for a change of pace while those in the south flock to the mountains to...

Q1 2021 News and Information for Employers

As we start to resume “business as usual” in the new year, it’s important to revisit your fiduciary duties, which never take a holiday break! Our quarterly newsletter touches on fiduciary plan governance topics to...

The Importance of a Retirement Plan Committee & Annual Reviews

Retirement plans are complex and have many moving parts; as such, many plan sponsors create retirement plan committees to help keep them running smoothly. They may be called “investment” or “administrative”...

Think Green: Have You Considered 401(k) e-Disclosures?

Anyone who has received stacks of mailed booklets, leaflets or other paper 401(k) disclosure materials might be cheering about the Department of Labor’s (DOL) recent rule that expands employer options for delivering retirement...

2021 ERISA updates: What employers should be prepared for

If navigating a worldwide pandemic weren’t enough, the world of employee benefits continues to throw curve balls at employers and plan sponsors who must constantly keep up. Below are 5 big changes that retirement plan...

NEW 2021 Retirement Plan Contribution Limits!

The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. For company retirement plans, the most recognized highlights include: The following...

Seeking, Finding and Consolidating Your Accounts

The average person has 12 jobs during the course of their career.[1] That’s a lot of jobs — and a lot of 401(k) accounts! Around 25 million Americans have left money behind in an old 401(k) when leaving a job.[2] It’s...

Why it’s Important to Review, Refresh, and Revise Retirement Plan Documents

You likely recognize the importance of seeing your doctor for an annual physical to keep your health in tip-top shape, or taking your car in for routine maintenance to keep it running like new. But what about checking the health of...

Staying the Course Through Volatile Markets

Turbulent times can bring turbulent markets. Many factors cause chaotic swings in the investing world including housing bubbles, political elections, international instability, and as we have seen recently, a global health pandemic....

Q4 2020 Lift Retirement Newsletter

With 2021 approaching fast, it’s time to start thinking about end-of-year initiatives to thrive in the “new normal” and keep your company’s retirement plan on track. Our newsletter covers strategic topics such...

Tracking Down Your Missing Participants

If you have terminated participants with balances in your 401(k) plan, some of whom you can’t locate, you’re not alone; missing participants are an industry-wide problem. What is a missing participant? A missing participant...

Missing Participants - End of the Year Clean Up

As a plan fiduciary, you are responsible for your keeping track of former employees with account balances, a.k.a. missing participants. The DOL and IRS are paying more attention to plan sponsors’ efforts to identify and locate...

3 Fiduciary Action Items During Turbulent Times

COVID-19 has brought many updates, changes, and challenges, and we know the stress this can place on a plan sponsor. While things are constantly changing, one thing remains the same – your status as a fiduciary. Your...

401(k) Matching Formulas that could Boost Participation without Breaking the Budget

Offering a retirement plan shows your employees that you are committed to helping them save for their future. A matching formula is a great way to give a little bit more to your employees and increase contributions! There are many...

Household Budgeting Worksheet

It is normal for working Americans to experience some form of financial hardship. When employees have proper financial wellness education, they can develop the mindset to see the long-term impact of their savings decisions. It all...

Q3 2020 Lift Retirement Newsletter

The first half of this year has been like nothing we have ever seen before --from record high employment to record unemployment, stimulus packages, the CARES Act, and of course the pandemic itself! As a plan sponsor, you have been...

Pros and Cons of Taking Coronavirus-Related Distributions from Retirement Savings

The COVID-19 pandemic has undoubtedly shaken our economy to the core. Many businesses have struggled to keep their doors open which has caused unemployment claims to soar. Record unemployment, coupled with a U.S. society that has an...

5 Ways Total Rewards Can Help Recruit Top Talent

A good total rewards program helps you attract and retain the best possible talent for your organization. Add a great workplace culture and environment and you could be on your way to becoming an employer of choice among job-seekers....

4 Qualified Plan Tax Advantages for Employers

By choosing to offer your employees a 401(k) plan, you’re sending a powerful message — that you’re invested in their future and committed to helping them work towards financial security in their retirement. As a...

How can you help your employees that are drowning in debt, save more today?

If your employees are drowning in debt, they could be looking to you, the employer, to throw them a lifeline! Luckily, there are a few ways to help your employees pay down debt so they can save a little bit more. How can you help?...

5 ways a Financial Wellness program can improve company culture

Employers recognize that financial stress is taking a toll on their workforce — and their bottom line. Financial wellness can help improve employees’ fiscal well-being and reduce stress by providing the education and tools...

Savings Best Practices for employees

We’ve all heard the golden rule of personal finance, “Pay yourself first.” It means putting money into savings before you do anything else. Your plan participants often need a light nudge to go the extra mile to save,...

5 Steps to Create a Financial Wellness Program

In today’s economy, Americans are worried about their finances, and it spills over into every aspect of their lives, even their work. Let’s look at this for a minute and you’ll see why having a financial wellness...

The Link Between Employee Productivity, Health, and Financial Stress

If you think financial wellness programs are a fad, think again. The industry consensus is that financial wellness not only produces results for employees, but it positively influences company bottom lines. That’s good news for a...

Four Ways to Help Reduce Financial Stress for Your Employees

Employee financial stress is a hot topic. So much so, that nearly 60% of employees cite finances as their primary stressor. [1] Their financial worries surpass other top stressors, and it’s impacting their job performance....

Q2 2020 Lift Retirement Newsletter

The link between stress and employee productivity is real. Experts estimate that it costs companies $500 billion or more per year due to “health costs, absenteeism and poor performance”. And with finances being the number...

CARES Act Update: Changes Impacting Retirement Plans

Signed into effect on March 27, the Coronavirus Aid, Relief and Economic Security (CARES) Act is a robust economic stimulus package designed to help small business owners and hardworking American families during these unprecedented...

Coronavirus and Retirement Savings: Lessons to help mitigate long-term retirement savings mistakes

It’s easy to say “stay calm” but harder to actually walk the walk. Keeping emotions out of investment strategies can be challenging even on a normal day. Add a dose of a health pandemic, in this case the worldwide...

Getting Your Ducks in a Row: Documents Adults Need

While we firmly believe life is meant to be lived, we also know that it’s important to have peace of mind in the event of an emergency. Your employees might be in the dark about the most important documents they would need if...

Knock, Knock, it’s an angry participant! How would your fiduciary process hold up in court?

Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to...

Thinking About Changing 401(k) Providers? Five Things You Should Know

Offering a competitive benefits package, including a top-notch 401(k) plan, is essential for your company to recruit and retain top talent. Today’s workers highly value employer-sponsored retirement plans: 88% of them say that an...

Here are the 2020 Compliance Calendar deadlines for 401(k) Plans!

Everyone loves the compliance deadlines that should be met every year. To help you stay ahead of the curve with important deadlines and filings, please find attached our complementary 2020 Compliance Calendar. If you have any questions...

SECURE Act and What 401(k) Plan Sponsors Need to Know

On 23 December, one of the largest changing legislative acts to impact America’s retirement system was signed into effect. The Setting Every Community Up for Retirement Enhancement Act – or SECURE Act – has many...

Quarterly updates to help maintain your fiduciary plan governance!

The start of a new year is a great time to review your fiduciary governance process and confirm that your fiduciary priorities have been set. Preparing for the unexpected can be a delicate balancing act, but it is vital for the...

What are Corrective Distributions and How to Avoid Them Going Forward

Tests – the word alone is enough to make the most studious of us sweat. When placed in the context of 401(k) plans, i.e. determining whether your plan passes non-discrimination tests, anxiety levels can go through the roof! This...

2019 Contribution Limits Email Notification

The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. For company retirement plans, the most recognized highlight is the 401(k)...

20 Questions to Ask a Recordkeeper

Your retirement plan recordkeeper should be a valued partner that helps support your plan and participants. It’s important to be confident in your recordkeeper and fully understand the value they can deliver for your plan. One...

How Data Analytics can Help You Make Retirement Plan Decisions

If you’re not using data analytics to help you make progress toward improving participant outcomes, then you could be missing out on a key component of plan governance. Data analytics are becoming a meaningful part of defined...

Big Data to Drive Participants Outcomes

If you want to predict the wants, needs and fears of participants when it comes to retirement planning, look into the potential of predictive analytics. The use of “big data” (a bite-size term often used instead of the...

Q4 Lift Retirement Newsletter

As we approach the New Year, we look at the future trends of the retirement plan industry to better support plan design, plan administration, participant outcomes, and fiduciary plan governance. Download and enjoy our quarterly Lift...

7 Simple Steps to Organize Your Financial Life

Your workforce is full of employees with different financial goals; however, the one common denominator is they want to always achieve financial health! In our recent participant guide, we have outlined 7 steps to help your employees...

Lawsuits Over the Years and What it Means for Plan Sponsors

Formation of Lawsuit Trends The barrage of excessive fee lawsuits filed in 2006 started a trend that continues to this day. At first, plan sponsors saw early signs of success in getting cases dismissed. However, this changed after a...

4 Reasons to Benchmark Your Retirement Plan

An old saying goes, “You get what you pay for.” But as a consumer, how do you know if you’re getting the best value for your dollar unless you shop around and compare costs? Benchmarking is the process of comparing...

Our 401(k) Investments are on the Watchlist. Now What?

If your plan investments are on the Watch List, don’t panic. This is an opportunity for due diligence and possibly enhancing the plan’s performance!

Automatic Features to Help Boost Participation and Savings Rates

Auto features are features for small business 401(k) plan sponsors to consider upgrading their current plan design.

Q3 2019 Lift Retirement Newsletter

As we close the first half of 2019, we urge plan sponsors to spend a bit of time reflecting on Measurement and Strategic Planning for your retirement plans. Before you know it, you will be sending annual notices and making plan...