How Do We Fix 401(K) Plan Mistakes? A 401(k) plan is an employer-sponsored retirement savings plan that allows workers to save and invest a portion of their income before taxes are deducted. These plans are designed to help workers save for their retirement years, with the expectation that the money will grow tax-free until it […]
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What Is a 401(K) Plan Administrator’s Responsibilities?
What Is a 401(K) Plan Administrator’s Responsibilities? For many employees, a 401(k) plan represents an important part of their retirement strategy. These plans allow workers to save and invest a portion of their income for the future with the added benefit of potential employer contributions. However, behind every 401(k) plan is a plan administrator who […]
The Main Benefits Of Hiring A Fiduciary Advisor
The Main Benefits Of Hiring A Fiduciary Advisor When it comes to investing, a fiduciary adviser can make all the difference. They can help you make smart choices and ensure your portfolio is always growing. A fiduciary advisor can also be a huge source of support when life throws you a curveball. They can be […]
Hiring A 3rd Party Administrator (TPA) For Your 401k Plan
Hiring A 3rd Party Administrator (TPA) For Your 401k Plan Whether you are the owner of a small or medium-sized business, hiring a third party administrator (TPA) for your 401k plan can save you time and money. Here are some things to keep in mind when choosing the right TPA for your company. What Is […]
Long-Term Part-Time Employee Qualifications
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 have paved the way for part-time employees to gain access to their employer’s 401(k) plan. These employees, known as long-term part-time (LTPT) workers, have worked at least 500 hours in three consecutive years. As a result, the SECURE Act amended the rules for 401(k) plans to make […]