SECURE Act 2.0 Update

Mandatory Provisions  Optional Provisions: TRPC Elects to Default  Optional Provisions: TRPC Elects Not to Default & the Employer Must Elect to Add  Timing of the Amendment to Include SECURE Act 2.0 Changes  Plan Document Amendments  As part of the Consolidated Appropriations Act of 2023, SECURE Act 2.0 was signed...

Why You Should Consider a 3(16) Fiduciary Service Provider

By: Gary L. Simon Jr., QPFC-Regional Vice President of Sales 3(16) fiduciary services, also referred to as 3(16) plan administrators, are one of the fastest-growing sectors of the retirement plan industry today. Utilizing a TPA that can offer these services is growing in demand. Let’s look at three main areas of this hot topic: • Plan Sponsor...

Frequently Asked Questions about Cash Balance Plans

By:  Scott Cloud, MBA, CPC Cash balance plans are a type of defined benefit retirement savings plan that enables business owners to make significant tax-deductible contributions each year and to accumulate significant retirement savings on a tax-deferred basis. While SEPs and 401(k)/profit sharing plans – as defined contribution retirement...

SECURE Act 2.0- Overview and Highlights

Catch-Up Contributions Required Minimum Distribution (RMD) Beginning Age Eligibility for Long-Term, Part-Time Employees Financial Incentives to Increase Employee Participation Employer Match on Student Loan Payments Mandatory Automatic Enrollment in Startup 401(k) Plans Roth Treatment of Employer Contributions Mandatory Cash-Out Distribution...

Achieving Pension Freedom Through Liability-Driven Investing

The defined benefit pension plan is a popular post-retirement benefit. For the retiree receiving the pension, it’s a valuable perk. If you’re the employer obligated to issue those pension checks, not so much. The nature of a defined benefit pension plan is unpredictable. Unlike most retirement plans that balance risk and return based on market...