Category Archives: Retirement Plans

It’s a tremendous savings gap

They say a participant needs about $1.8 million for retirement savings, to live comfortably. The only problem is that the average worker between the ages of 55 and 64 has $207,874 in their 401(k) account. As an industry, we are … Continue reading

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Need to increase that retirement coverage gap

According to a survey by my friends at Paychex Inc., less than half (37.6%) of U.S. employers offer a retirement plan. That figure considers all businesses in the U.S. That is a low number and that is why I consistently … Continue reading

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The thing about stealing plan assets

The recent news about RiversEdge, the Third-Party Administrator (TPA) accused of stealing plan assets is alarming, but not new. People and providers with access to plan assets can easily steal. The problem is that it’s one of the dumbest crimes … Continue reading

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401(k) dangers? It doesn’t have to be this way

Thalidomide was supposed to be the wonder drug that helped women manage morning sickness until they discovered it caused birth defects. Asbestos was supposed to be the ultimate fire-resistant material that was later found to cause mesothelioma when produced or … Continue reading

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Need to communicate better with Start Up Credits

We live in a day and age where information is at our fingertips. Anything we want to know is just a Google search away. Yet many companies interested in starting a 401(k) plan are unaware of the tax credits offered … Continue reading

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Yes, student loans impact deferral rates and account balances

A recent study showed that student loan debt has a negative impact on deferral rates and 401(k) account balances. Of course, that’s obvious. Some student loans that students take out, resemble the size of my mortgage that I just paid … Continue reading

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Ascensus and American Funds bring PEP to market

Ascensus and American Funds have finally brought their pooled employer plan (PEP) to market. The Ascensus | American Funds Pooled Employer Plan is available to plan sponsors and advisers, featuring an open architecture plan menu designed by investment advisory Wilshire … Continue reading

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CITs in 403(b) plans need to be a thing

Collective Investment Trust investments were supposed to be a thing for 403(b) plans. It was in the legislation that predated SECURE 2.0, but it never made it into the law. There are proposed bills that allow it and I support … Continue reading

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One America is now One America Financial

OneAmerica Financial Partners Inc. announced a rebranding to OneAmerica Financial from simply OneAmerica. One America is trying to enhance its brand recognition and clarify its work in financial security, offering life insurance, retirement, employee benefits and long-term care solutions, according … Continue reading

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Verify the resume is true

Thankfully, it’s been about 13 years since I’ve had a resume. It wasn’t a fun job and I never knew what people would ask for. I always thought objectives for resumes were silly, but people had them. Years ago, I … Continue reading

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