Q. My daughter works for a small nonprofit business with less than 25 employees, so she cannot participate in the New Jersey Secure Choice Savings Program. What other ways can she save for retirement? – try to help A. We are happy to hear that your daughter wants to saveRead More →
Lifetime income disclosure requirement. The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), enacted on December 20, 2019, added a new annual disclosure requirement for benefit reports to members and beneficiaries. The new disclosure obligation applies to all defined contribution plans covered by ERISA (forRead More →
According to the United States Small Business Administration, small businesses employ half of all private sector employees in the United States. However, a majority of small businesses do not offer retirement savings benefits to their workers. If you are like many other small business owners in the United States, youRead More →
THE 5 BEST STATES FOR ACCESS TO THE EMPLOYER PENSION PLAN 5. IOWA Share of workers with access: 56.8% Share of workers who participate: 49.3% Share of workers earning less than $ 50,000 with access: 49.7% Share of workers earning less than $ 50,000 who participate: 39.7% (Photo: f11photo /Read More →
What would you like to know Only about 5% of 401 (k) plans offer an annuity option in the plan. The Secure Act of 2019 should encourage 401 (k) sponsors to add annuity options. The provision of annuities in the plan helps plan sponsors demonstrate that the primary goal ofRead More →
My friend Abby recently graduated from graduate school and has just started a new job as a business analyst. After reviewing her company’s employee benefits program, she called to ask two specific questions: What is the difference between a traditional plan and a Roth 401 (k) plan? And which oneRead More →
BANDAR SERI BEGAWAN – Looking to grow your wealth by investing in a guaranteed return plan? Takaful Brunei Keluarga (TBK) has just launched a unique contribution plan that allows clients to invest and grow their savings in the short term. From August 2 to November 1, you can enroll inRead More →