4 Ways To Create A Culture Of Wellness
Creating a culture of wellness in the workplace is a trend that’s catching on with employers across the country. A culture of wellness encourages employee health and well-being holistically by helping them adopt healthier habits in their personal and professional lives, such as exercising consistently, eating more nutritious foods, developing
Financial Education On Company Time
Financially stressed employees may be costing you more than you think. Not only do financial issues affect employee productivity, they can also impact your ability to retain staff. A recent survey found that more than half of stressed employees (55%) are distracted by their finances at work. Additionally, they spend
How Much Is Employee Stress Costing You?
San Francisco’s Golden Gate Bridge is painted continuously. The preventative measure keeps salt water, wind and other environmental factors from causing structural damage. A financial wellness program is like the paint on the bridge. It can protect companies from the corrosive effects of employee financial stress, by helping to lower
Financial Stress Has More Impact On Your Company Than You Think
In today’s economy, financial stress is having a profound impact on working Americans. Stressed employees are feeling the pinch; this can affect productivity, retention and engagement at work. Financial education could be an easy solution that helps your employees and overall business. Employees are financially stressed. Weathering the last several
Writing Your Company’s Retirement Plan Goals
Employers often don’t know where to start when writing the company’s retirement plan goals. Check Out this Summit Resource: https://yoursummit.com/wp-content/uploads/2023/01/Social-Card-Writing-Your-401k-Plan-Goals-Q1-2023.pdf
Fiduciary Best Practices: Why Investment Oversight Is Important For 401(K) Committees
Selecting and monitoring investment options for your company’s retirement plan is just one part of your fiduciary responsibility. How do you evaluate, benchmark and assess your plan and what other expertise or protection should you consider? An investment committee has a lot of responsibilities, including selecting and monitoring the investment
Investment Committee Checklist
Investment committees are the backbone of the retirement plan and participants’ success, both in the fiduciary process and financial wellbeing. Check Out this Summit Resource: https://yoursummit.com/wp-content/uploads/2023/01/Plan-Sponsor-Guide-Investment-Committee-Checklist-Q1-2023.pdf
Why Plan Fiduciaries Need To Pay Careful Attention To Retirement Plan Fees
Competitive benchmarking is a way to measure and compare fees associated with running your retirement plan. Explore the most frequently asked questions about plan costs and benchmarking. Retirement plan fees can take many different forms, making it difficult to determine whether they’re reasonable. In this article, we’ll discuss why fiduciaries
Defining Workplace Goals Is A Vital First Step To An Effective Retirement Plan
Retirement plans can be as unique as your company and its employees. Yet many committees do not take the time to set specific goals for their plans. Without defined goals, it can be difficult to create an effective retirement plan that meets expectations. Here’s helpful guidance about defining your plan
2023 Contribution Limits
https://yoursummit.com/wp-content/uploads/2022/10/Plan_Sponsor_Guide-2023_Contribution_Limits.pdf The following limits are going up for 2023: Maximum contributions for 401(k), 403(b) and 457 increases to $22,500 The annual additions limit for defined contribution plans increases to $66,000 The annual compensation limit increases to $330,000 The Social Security Wage Base increases to $160,200 Review the full list of
8 Credit Building Tips For The Modern American
https://yoursummit.com/wp-content/uploads/2022/10/Participant-Infographic-8-Credit-Building-Tips-for-the-Modern-American.pdf Credit is your financial reputation. It shows financial organizations how reliable you are when re-paying money or following through with terms of a contract. The quality of your credit can impact: Housing affordability Loan qualification Interest rates Credit card qualification Credit card limits Attaining good credit score shouldn’t intimidate
4 Simple Steps To Help Understand The Transition To A New 401(K) Provider
Learn what to expect when changing recordkeepers to avoid unpleasant surprises. Change can be exciting but is sometimes stressful. However, transitioning to a new 401(k) recordkeeper shouldn’t be a taxing experience. In this article, we’re going to talk step-by-step through the events that may take place and provide inside knowledge
Build A 401(K) Dream Team With The Power Of Partnership
Leverage service providers to help your 401(k) plan run more smoothly. As a retirement plan sponsor, you are a valuable member of a team that includes your recordkeeper, third party administrator (TPA), financial wellness provider and retirement plan advisor. Each member must uphold their roles and responsibilities to maintain a
7 Employer Considerations For A Rewarding Workplace Retirement Plan
https://yoursummit.com/wp-content/uploads/2022/10/Plan-Sponsor-Guide-7-Employer-Considerations-for-Rewarding-Retirement-Plan.pdf Do you want to get the most out of your retirement plan? A plan should benefit both the employer and employees. It’s important to review your plan regularly to learn if more efficient plan design options available. Here are 7 considerations for a rewarding workplace retirement plan.
5 Financial Wellness Tips Your Employees Will Thank You For
A financial wellness program can be an extremely valuable benefit, learn how it can help employees reduce stress while improving workplace productivity Financial wellness programs are becoming an important benefit for companies of all sizes. In 2021, almost half (46%) of all employers offered financial wellness programs, up from 40% in 2020. Additionally, interest
