When it comes to saving for retirement, companies offer many different types of retirement plans. Among the most popular are 401(k) plans which allow employees to contribute a percentage of their income to their personal retirement account. With a 401(k) plan, most employers will match a portion of the employee's contribution, providing an immediate boost to the individual's savings. However, the perks don't stop here, let's discuss some of the lesser-known benefits of 401(k)

By offering a 401(k) plan to your employees, you provide a useful perk for working at your company and helping them save for retirement. For many, it may also influence them in accepting a job offer. Along with a retirement savings plan, employers may also offer employer matching contributions on employee deferrals. What exactly does that mean and what are the pros and cons of doing so? Let's talk about it. What is a 401(k) Employer Matching Contribution? Employers who offer

Employer-sponsored retirement plans such as a 401(k) provide companies and employees with numerous benefits. When establishing a 401(k), you will designate an individual or committee within your company that is responsible for the establishment of the plan document, communication, compliance, and more. In this blog, we are going to uncover the 12 things that every 401(k) Plan Sponsor needs to know including tips and responsibilities. What are a Plan Sponsor's Responsibilities

When an organization seeks the services of a Retirement Plan Consultant (RPC), they are entering a competitive world of hundreds of firms, each vying for the same business. One of the ways RPCs will seek to differentiate themselves is through obtaining and maintaining licenses and certifications. The gold standard among these credentials is the Seal of Excellence from the Centre for Fiduciary Excellence (CEFEX). But how can your organization benefit from working with a partne

Safe harbor 401(k) plans are among the most popular types of 401(k) plans used by small businesses. These plans help owners maximize the annual contributions made to their accounts because they automatically pass ADP/ACP and other top-heavy nondiscrimination tests. However, to achieve the Safe Harbor status, the plan must meet certain contributions and participant disclosure requirements. Let's talk a little more about the rules that Safe Harbor plans bring with them. If, as

Currently, the law allows employers to design their retirement plans to exclude part-time employees who work less than 1,000 hours per year from plan participation. Under the SECURE Act, Congress elected to reduce eligibility standards to expand retirement plan coverage. Beginning in 2021, 401(k) plans are required to provide dual eligibility coverage—meaning that employees who have worked at least 500 hours per year for at least three consecutive plan years are eligible for