Practice Management Plan sponsors and service providers already take seriously their responsibilities to protect participant data, but where are the lines of responsibilities and accountability in the event of a breach? That was the focus of a workshop at the Plan Sponsor Council of America’s 2019 National Conference in Tampa, FL. The panel – Amy…
Your employer-sponsored retirement plan offers a variety of investments to choose from. How do you know which ones may be right for your needs? And how much should you direct to each one? The keys to answering these questions are to understand your options and consider how they relate to your own personal circumstances. Asset…
Employer-sponsored retirement savings plans, such as 401(k), 403(b), and 457 plans, present an ideal opportunity to build a nest egg for retirement. You contribute to the plan via payroll deduction, which can make it easier for you to save for retirement. In addition, you may receive significant tax benefits along the way. Following is a…
When you envision retirement, you probably see yourself living comfortably, doing what makes you happy. Your dreams could be as lofty as traveling the world or as simple as spending more time with your friends and family. Everyone’s vision is unique. Fortunately, whatever your dream, your employer wants to help you make it reality —…
Employers and plan sponsors can give their low- and moderate-wage workers some good news by informing them of the Saver’s Credit. This federal income tax credit was made permanent in the Pension Protection Act of 2006. To be eligible, a person must: be 18 years of age or older not be a full-time student not…
Working together to help you achieve your financial goals is incredibly rewarding. Here at SIMA, we take our responsibilities to adhere to the highest standards of ethical and professional conduct very seriously, which is why we are proud to be an Accredited Investment Fiduciary® Designee. The AIF® Designation is more than just an acronym. It’s…
The IRS has announced that the amounts employees can contribute to 401(k)s and IRAs will increase in 2019. In particular: The employee contribution limit for 401(k) plans will be $19,000, up from $18,500 in 2018. The catch-up contribution limit for employees aged 50 and over remains unchanged at $6,000. The employee contribution limit for IRAs…
This week has been designated as National Estate Planning Awareness Week. Estate planning is a vital component of every financial plan, regardless of the size of the estate. Unfortunately, it’s also an area that is commonly overlooked. This often results in wasted dollars and emotional hardship that could otherwise be minimized with proper advance planning…
By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out some of the most popular options: Traditional. Employees contribute on a pretax basis, with the…
In its 28th annual Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) discovered that 64% of today’s workers feel very or somewhat confident in having enough money to retire comfortably, up from 60% in 2017. And although far more retirees are very confident in their retirement prospects than workers (32% versus 17%, respectively), retiree…
