401k Plans Still Make Sense, No Matter What You Have Read
Are 401k plans still an efficient way to save for retirement? Yes, I believe they are more relevant than ever. Here’s why.
Five 401k Updates You Should Make To Your Plan For COVID-19
The world has changed as a result of COVID-19, and many things will never be the same. Your 401k plan needs to evolve to better fit the new relationship you have with your employees. Following are five 401k updates you should consider making to your plan in response to COVID-19.
12 Low-Cost Ways To Improve Your 401k Plan
After working with hundreds of 401k plans for more than 30 years, I have consistently encountered a relatively small number of 401k fixes that can make a big difference in almost every 401k plan. None will cost you much money and some may even save you money. Check out this list to see how many of these 401k fixes you can implement in your plan.
COVID-19 Withdrawals: Why 401k Plans Shouldn’t Allow Them
The recent CARES Act made it easier for 401k plan participants to withdraw money from their accounts. In order to allow what are being called COVID-19 withdrawals from your 401k plan, you would need to amend it. However, I don’t believe you should adopt provisions allowing your 401k plan to permit COVID-19 withdrawals.
Huge 401k Plan Opportunity Arises From Bad Markets
Weak equity markets have one silver lining for 401k plan participants with large account balances: a Roth in-plan conversion.
Employee Retirement Readiness: Employer Responsibilities
The attributes listed in this piece have become associated with an employer’s responsibilities in helping participants achieve retirement readiness.
Scoring The SECURE Act: A Disappointing Effort
You probably have heard a lot of good things about the recently passed, strangely named but appropriately abbreviated Setting Every Community Up for Retirement Enhancement Act – the SECURE Act. Many parties will be affected by the SECURE Act, and many entities will profit. However, you may be surprised to learn that the average American’s ability to retire sooner, with more security or even at all, is not materially improved by the Act.
Why You Should Make Only Roth 401k Contributions
A frequent question I get from 401k plan participants is “What type of contributions should I make Bob, Roth 401k contributions or traditional pre-tax 401k contributions?” It now appears that everyone would be better off making Roth 401k contributions only. Here’s why.
Most Important 401k Improvements For 2020
What 401k improvements are you considering for your plan in 2020? Most leading edge employers will have the following items on their list of 401k improvements for the coming year.
The 11 Most Significant 401k Plan Misconceptions
You will be surprised at many of these.