If you were to call an impromptu employee education meeting and quiz your employees on a few 401(k) basics, how do you think they would fare? Would they know the answers to questions like: “At what age can you withdraw ...(more)
4 tips for forward-thinking plan sponsors
As we settle into the new year, we tend to opt for positive change and set goals for near-term improvement like shedding a few pounds or learning a new skill. But what about ...(more)
One of the most popular employee retirement benefits is the 401k account, but why do companies offer 401ks to their employees? After conversations with hundreds of business owners and corporate executives, the reasons ...(more)
3 Tips for Managing 401(k) Plan Administration Headaches
As an HR professional, you have mastered the art of juggling and hopefully, you look good in hats, because you’re likely to find yourself wearing a number of ...(more)
Over our years working with business owners and employers, we’ve encountered a number of common myths that plan sponsors hold on to despite proof to the contrary. These myths can be harmful to plan sponsors and ...(more)
Exchange-traded funds (ETFs) have gained significant market share for over a decade now, and more investors are interested in utilizing the investment vehicle to design a diversified portfolio. Advisors' adoption of ...(more)
As each New Year begins, many people make New Year’s resolutions, with the mantra – New Year, New Me. Topping the resolution charts year after year is health, both physical and financial. And while many are focused on ...(more)
There is a fair amount of confusion surrounding the roles, responsibilities, and duties each party has to maintain a compliant retirement plan. With new regulations and increased litigation, it’s more important than ...(more)
Planning for retirement comes with a unique set of challenges for everyone, but often the focus is placed on individuals who struggle to save for retirement. What about the people who actively save and want to do ...(more)
What are the Phases of Retirement?
I functionally label retirement into 3 Phases for couples:
Phase I: Both of you are here.
Phase II: One of you are here.
Phase III: Neither of you are here.
Each phase ...(more)
You have probably heard by now that the new DoL fiduciary rule, slated to go into effect on Monday April 10th, has had implementation pushed back to June 9th. The short version of this rule is that it requires any ...(more)
I found myself thinking about eggs this morning. Maybe it's because Easter just passed. Or maybe I was just hungry.
Or it could have been because of a recent conversation about not putting all your eggs in one ...(more)
I discussed how inheritances can go amuck and the heirs don’t get the inheritance – the State does. This can happen while you’re still alive too! Did you know that the State can claim your IRA (or any account for ...(more)
On April 6, 2016, the Department of Labor (DoL) issued its fiduciary rule, which we consider a major step forward for the world of professional financial advice. The rule states that brokers can no longer earn ...(more)
Many people are under the mistaken belief that their Financial Advisor is a Fiduciary; however, that might not be the case. The DOL Fiduciary Rule was passed last year with an effective date of April 2017. The rule ...(more)
There are many parties involved with the management of a company’s retirement plan. Although we hear certain terms being used, many times we do not understand exactly who does what. A common question I get is “what ...(more)
This article was published in the Florida Medical Association's January 2017 Newsletter. Medical practices should be keenly aware of what their responsibilities and requirements are when they sponsor a 401k.
Information is provided 'as is' and solely for informational purposes, not for investment purposes or advice. BrightScope is not a fiduciary under ERISA. BrightScope is not endorsed by or affiliated with FINRA.