Category Archives: Retirement Plans

According to FinanceBuzz, 40% of Americans with retirement accounts have taken money out of them early, including more than 10% who have done so multiple times. The average amount of money withdrawn by is $15,021. These numbers are alarming, but … Continue reading →

Everyone is pushing lifetime income options for retirees because the fear is that there will be nothing left for retirees as they live longer. T. Rowe Price announced the launch of Managed Lifetime Income (MLI), a new retirement solution designed … Continue reading →

I work (outside of plan audits) on a flat fee basis. What I say is the price is the price. If I misjudged the value of a service, the fault lies with me. I still live up to the bargain … Continue reading →

Over the last few years, we’ve seen the proliferation of companies offering ERISA §3(16) services. This is a natural growth of advisors offering ERISA §3(38) services, so 3(16) was a great way for third-party administrators (TPAs). Like 3(38), TPAs and … Continue reading →

I was against Automatic Enrollment before I was for it. When it finally became part of the Internal Revenue Code, plan sponsors got liability protection through using the QDIA. While I like that plan sponsors under SECURE 2.0 will have … Continue reading →

Wealth Enhancement Group, a wealth management firm with more than $94.7 billion in client assets, acquired FinTrust Capital Advisors LLC, which has more than $2.39 billion in client assets. FinTrust Capital Advisors is registered investment advisory headquartered in Greenville, South Carolina, with additional office … Continue reading →

A research paper from the Wharton Pension Research Council states that 401(k) contributions are “remarkably stable” after loans and hardship withdrawals. Quite honestly, I always saw loans as a non-issue since it would be a participant-directed investment and the issue … Continue reading →

A long-time advisor-client called with a chuckle that both he and I were right and a partner at a law firm admitted that we were. I said it’s better to be right than wrong, but too many providers out there … Continue reading →

Company A wants to buy Company B and everyone wants to terminate Company B’s 401(k) Plan. In an ideal world, this should be done before the closing date of the deal. If A has a plan and wants to terminate … Continue reading →

For those aged 55-64 the average 401(k) account balance is $244,750. The median account balance is $87,571. No matter the occupation, that amount of money isn’t enough for retirement. It shows that no matter, we still have a retirement crisis … Continue reading →