Live Your Best Life: Now and In Retirement

Americans are living longer than ever before. Life expectancy is now at 79 years old, and many employees will need to save enough to live 17+ years in retirement.1 How financially prepared are your employees to enter into this next stage of life?

Saving more today can make a huge difference. Share this questionnaire with your employees so they can picture their retirement lifestyle and determine if they should be saving more today to live the future they desire.

Download the Questionnaire

 

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.

©401(k) Marketing, LLC. All rights reserved. Proprietary and confidential. Do not copy or distribute outside original intent.

Three Insurance Facts for Plan Sponsors

May 1, 2019—401(k) plan sponsors can benefit from knowing three simple insurance facts.  This can help keep sponsors compliant, eliminate potential reporting errors that could trigger a DOL audit, and cover their defense if charged with imprudent plan management.  Given that there’s so much for employers with company retirement plans to keep track of, these simple facts often are either unknown or forgotten . . . with plan sponsor fiduciaries exposed to potential liability.

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The IRS Form 5500 – Look before you sign!

Signing the IRS Form 5500 marks the administrative end of a retirement plan year for most plan sponsors.  But don’t be tempted by your nearness to the “finish line.”  Look carefully before you sign.  Inaccuracies on a Form 5500 could trigger a knock on your door from the IRS or the US Department of Labor with a request to review your organization’s 401(k) plan!

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When Ignorance Isn’t Bliss!

February 7, 2019—Plan sponsors: Do you know whether your organization’s 401(k) is as good as it could be?

  • Does it include the best possible funds, and are your employees offered professional investment management to help them meet their retirement goals?
  • Is your plan designed with the features that make 401(k) plans most valuable both to employees and organizations?
  • Have you taken advantage of ERISA safe harbors to reduce your fiduciary risk?
  • Is your plan easy to administer and do you understand ERISA’s regulations?
  • Are you aware all plan fees and know they are reasonable?

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2018 isn’t over until the data’s scrubbed!

Retirement sponsors know it: while others are ringing in the new year, January is a time for 401(k) plan administrators to assemble, scrutinize and validate prior-year data for plans with a December 31 year-end date. Diligent information scrubbing is important. “Clean” data will result in accurate testing and tax filing. A lack of attention to detail can result in tax-filing errors, the need for voluntary corrections, regulatory audits, and – worst-case – plan repayments, fines and penalties.

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Getting Noticed . . . A Guide to Enrollment Notices for New 401(k) Participants

December 6, 2018 – There are good times and bad times to be noticed.  Most 401(k) plan sponsors don’t want to be noticed (and then investigated) by the U.S. Department of Labor.But employers need to provide notices to employees as they become eligible to join a 401(k) plan . . . or face potential employee complaints and DOL investigation.

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Have You Noticed? A Guide to Year-End (and other) 401(k) Disclosures

November 1, 2018 — It’s an important time of year for most 401(k) plan sponsors: the time to give notice . . . to participants . . . as required by the U.S. Department of Labor. When I say “most,” I’m talking about the sponsors of plans with a December 31 year-end. (For other sponsors, file this blog and revisit it two months prior to your plan’s year-end.)

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