As retirement savings become increasingly important, many employers are choosing to implement auto-enrollment features in their 401(k) plans. Auto-enrollment is a valuable tool that encourages employees to save for retirement by automatically enrolling them in the plan unless they actively opt-out. While this feature has numerous benefits, the process of implementing and managing auto-enrollment in […]
401(k) Contribution Deadlines for 2023 When it comes to retiring, it’s essential to start planning your retirement contribution strategies for the upcoming fiscal year. One of the most popular retirement plans is the 401(k) plan, which allows employees to save for their retirement while also receiving tax benefits. In this post, we’ll cover the 401(k) […]
What Is a 401(K) Plan Administrator and How Is That Different From a Third Party Administrator? When it comes to managing a 401(k) plan, there are several key roles involved. Employers or plan sponsors are responsible for selecting and offering the plan to employees, while asset managers manage the investments within the plan. However, the […]
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 […]
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 […]
