You Can’t Talk About That At Work: Tackling Financial FAQs
Talking about money is tricky, especially at work. While it may seem too personal for work and easier to avoid the conversation, the effects can have a lasting effect on a company. More and more forward-thinking employers are starting to overcome the stigma that surrounds talking finances at work. They are putting to rest their fear of […]
Year-End Wrap-Up
With Cycle 3 deadlines fast approaching, now is a great time to review your retirement plan. Measuring your retirement plan’s data provides key information to help increase its competitiveness, which can be extremely helpful in today’s labor market. Benchmarking is a way to determine your retirement plan’s effectiveness. As relevant data is gathered, you can compare your plan to others of a similar size in […]
Live Well, Work Well
As millions of Americans get vaccinated against COVID-19 and businesses resume normal operations, people are likely making plans to travel this summer. Summer Travel Safety Tips Check Out this Summit Resource: https://yoursummit.com/wp-content/uploads/2021/08/Live-Well-Work-Well-Newsletter-August-2021-1.pdf
Do You Want To Be Taxed Now Or Later?
https://yoursummit.com/wp-content/uploads/2021/07/Participant-Infographic-Taxed-Now-or-Later-Roth-vs-Traditional-1.pdf Are you getting the most bang for your buck? Taxes are inevitable but you have a choice as to when they are taken out of your 401(k). When choosing to invest your hard-earned dollars into a Traditional or Roth 401(k), there are a couple of big factors to consider: number of years until retirement […]
CARES Act Aftermath: What Plan Sponsors Need To Do
The CARES Act gave plan participants quick access to funds during the COVID crisis, although only about 6% of participants took advantage of the options offered.[1] However, as a plan sponsor you must understand your own obligations and how to keep your plan in good standing. In most cases, the Coronavirus Aid, Relief, and Economic Security […]
SEPs, MEPs And PEPs – What’s The Difference?
Just ask anyone: Uncle Sam and the retirement industry love acronyms. Another was added in December 2020—PEP—which conveniently rhymes with MEP and SEP. The three plan types are 401(k) cousins[1] meaning they share many fundamental similarities, and their main differences relate to the administrative models they use. If you don’t speak fluent tax code or understand […]
The Perfect Time To Review Your Retirement Plan Design Is Now
For the millions of business owners that offer a workplace retirement plan, the COVID-19 pandemic created many financial difficulties. However, as the economic climate improves, there is an opportunity for employers to refresh their company’s retirement plan. With an important plan document restatement deadline happening in 2022, there’s never been a better time for employers […]
Questionnaire: Do You Know The Different Types Of Workplace Retirement Plans?
https://yoursummit.com/wp-content/uploads/2021/07/Plan-Sponsor-Guide-Questionnaire-Different-Types-of-Retirement-Plans-1.pdf Help your employees save with a plan that fits your unique organization! Each type of retirement plan comes with its own set of features and tax advantage strategies for employees and employers. Knowing the different types of workplace retirement plans available is important so you can choose the best one for your organization. There […]
2021 ERISA Updates: What Employers Should Be Prepared For
If navigating a worldwide pandemic weren’t enough, the world of employee benefits continues to throw curve balls at employers and plan sponsors who must constantly keep up. Below are 5 big changes that retirement plan decision-makers should know about. 1. How Far Will Retirement Savings Go All defined contribution (DC) plan benefits to be expressed […]
Live Well, Work Well
https://yoursummit.com/wp-content/uploads/2021/07/Live-Well-Work-Well-Newsletter.pdf
