10 Steps to Put on Your Retirement Planning Checklist

The average American doesn’t give proper attention and consideration to retirement financial planning for a variety of reasons (excuses). Perhaps you don’t have time in your day-to-day life to squeeze in financial planning because it seems complicated and time consuming. Maybe you think it can be done next year; what’s the rush to do it …

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Pre-Tax v. Roth 401(k): Which is Better for Your Financial Portfolio?

Some plans allow participants to make Traditional (pre-tax) contributions and also Roth (after-tax) contributions. Making a decision on which contributions are right for you can be a difficult choice, as there are current and future tax consequences that you should consider. With a Roth 401(k), you can eliminate concerns about your retirement tax rates, but …

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Participant Education

Benefit plan sponsors have an obligation to educate their participants about the plan and how the plan fits into their investment needs for their retirement.  You should educate your employees about how your plan works – things like when are they eligible, how they can make changes to their investment plan or their withholdings, etc, …

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Increase Participation in your 401(k) Plan

Is participation in your 401(k) plan still down? Some ways you can increase participation in your plan include identifying and overcoming the common objections and simplifying enrollment. Two of the most common objections for not participating that you will encounter as a plan administrator are that employees cannot afford to defer their income and that …

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Are Your 401(k) Participants on Track to Meet their Retirement Goals?

As a plan administrator, it is good practice to take a proactive approach and evaluate whether or not your participants are being properly educated on how they can stay on track to meet their retirement goals. A recent article on usnews.com (http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2010/11/16/5-mistakes-you-may-be-making-in-your-401k) discussed some common mistakes people make in their 401(k) plans that hinder their …

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