Tuesday, 27 April 2021

5 Tactics to Increase Retirement Plan Participation

Written by RPAG

Employees fail to enroll in their retirement plan for a variety of reasons. They may be intimidated if it’s their first time around or they might not fully understand and appreciate the benefits (or the downside of not participating). Some could be concerned about “locking up” their money — and others might worry so much about making the “wrong” investment decision that they procrastinate making any decision at all. As a plan sponsor, you know the advantages of offering a retirement plan for you, including: employee recruitment, increased retention, reduced worker stress, higher productivity and tax benefits...

Published in Retirement
Friday, 19 March 2021

Common Fiduciary Errors

Written by RPAG

An ounce of prevention is worth a pound of cure. This saying is universal, and certainly applies to fiduciary responsibility. Beginning the year with an eye towards avoiding some of the most common errors makes sense. Most fiduciary errors are unintentional or even well meaning...

Published in Retirement
Friday, 19 March 2021

QDIA.... Why is it important?

Written by RPAG

The qualified default investment alternative (QDIA) is arguably the most important investment in a plan’s investment menu. By far the most often selected QDIA investment is a target date fund (TDF). TDFs are typically the only investment selection that offers unitized professionally managed portfolios that reflect the participants’ time horizon today and as they go to and through retirement. TDFs are tied to the anticipated year of your retirement...

Published in Retirement
Thursday, 22 October 2020

Gerald Wernette Named to 2020 Financial Times 401 Top Retirement Advisers

Written by Financial Times

October 22, 2020 –  Rehmann is pleased to announce that Gerald Wernette has been named to the 2020 edition of the Financial Times 401 Top Retirement Advisers. The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans across the U.S. This is the sixth annual FT 401 list, produced independently by Ignites Research, a division of Money-Media, Inc...

Published in Retirement
Monday, 01 June 2020

Recognizing and Embracing the Honeymoon Phase of Retirement

Written by Keith Harder, CFP®

As much as you anticipate the day you can retire, and eagerly anticipate all the things you’ll get to enjoy – a vacation to end all vacations, spending time with the grandkids, wide-open days to do whatever you please – the reality of leaving the workforce for good involves a period of adjustment. After those first few weeks, you may begin to wonder what’s next and how exactly you should manage this major life transition. You’ve entered what experts refer to as the honeymoon phase of retirement, a time that may prove to be especially emotional. Even though you may feel well prepared for retirement – you’ve given a lot of thought to it, you’ve planned and projected your finances, and you feel ready – when you actually get there, you realize you didn’t expect to have these emotions, that your new day-to-day would impact you in this way...

Published in Retirement
Monday, 09 March 2020

SECURE Act Opens Door to Pooled Employer Retirement Plans

Written by The Rehmann Team

Many smaller businesses are reluctant to offer 401(k)s or other qualified retirement plans to their employees because of their high costs, time-consuming administrative responsibilities, and strict fiduciary duties. But starting next year, it will be easier for employers to reduce these burdens by joining forces in a multiple employer plan (MEP). The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law late last year, is designed to head off the looming retirement saving crisis by improving access to tax-advantaged savings vehicles. One of the act’s most significant changes authorizes a new type of “open” MEP, called a pooled employer plan, or PEP...

Published in Retirement
Thursday, 01 August 2019

Don’t settle … it’s time to review

Written by Gerald Wernette, CPA, CEBS, AIFA, C(K)P and Jamie Russell

Let’s face it – reviewing your employer-sponsored retirement plan may not be exciting, but avoiding it may hurt your employees’ ability to reach their retirement goals and cost your business in the long run. It's generally a good idea to review your plan annually. If you haven't given it a thorough review within the last 12 months, now may be a good time to do so. Here are 3 reasons why you should take a fresh look: High fees When it comes to saving, many people are more focused on their return and have no idea that high fees are consuming those earnings...

Published in Retirement
Wednesday, 17 October 2018

Cash Balance Plans

Written by The Rehmann Team

Download a copy of this article   A Cash Balance Plan is a Defined Benefit Plan that looks like a Money Purchase Plan. Like a Money Purchase Plan, fixed contributions are credited to each participant at the end of each year. In addition, participants receive interest credits based on the interest rate defined in the plan. The credit is a fixed rate specified in the plan...

Published in Retirement
Thursday, 15 February 2018

Retirement Income Planning Q&A

Written by Jason A. Baum, CFP®, ChFC®, MBA

Download a copy of this article When should I begin thinking about taking distributions from my retirement assets and how should I go about doing so? The answer to this question depends upon when you expect to retire and the types of financial assets you own. In general, if you are within 5 years of your projected retirement date you should begin developing a strategy for this process. The strategy would include reviewing how your portfolio is invested, the amount of annual spending you anticipate, what amount of income your portfolio can generate and what other sources of income you may have such as Social Security, a pension or investment property income...

Published in Retirement
Monday, 12 February 2018

Small Business Tax Credit for Retirement Plan Startup Costs

Written by The Rehmann Team

According to U.S. Department of Labor statistics, 64 percent of all employees in medium- and large-sized firms are covered by an employment-based retirement plan, compared with only 34 percent at small firms. One reason cited by small businesses for not offering retirement plans is the high costs associated with set-up and administration of a retirement plan...

Published in Retirement
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