Here’s why we think so. Since the passage of ERISA in 1974, retirement plan legislation has been a series of technical and tax-related changes. The Revenue Act of 1978 started out the same way with its focus on: Sometimes during the legislative process an unrelated provision is added to the law. That’s what happened here. … Continue Reading
Kids will outgrow their clothes. Sometimes that happens with retirement plans. If you have a SIMPLE IRA, it may have fit in the beginning. But if you want to change to a 401(k) plan in 2024, you need to take action by November 2. That’s the date that employers must provide notice to their employees … Continue Reading
From the beginning of 401(k) plans, the retirement industry has focused on the performance of individual funds as the key driver of retirement readiness. But a study by the Putnam Institute in 2006 and repeated in 2012 concluded that increasing deferral rates have the greatest potential impact on a 401(k) participant’s account balance at retirement … Continue Reading
Because there are now five generations in the workforce for the first time: The challenge to create and provide a 401(k) plan is arguably more difficult now than it ever was. 401(k) plans are part of the big picture which includes dealing with such questions as Dr. Bea Bourne, DM, is an expert on generational … Continue Reading
