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 healthy interpersonal relationships and taking […]
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 an average of three hours […]
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 turnover, increase productivity, deepen employee […]
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 years – a pandemic, geopolitical […]
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 options for the retirement plan; […]
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 need to pay careful attention […]
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 goals and offering this benefit […]
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 contribution limit changes below and […]
