Category: General

Mary Beth’s Corner Understanding Guaranteed Income Sources Navigating ERISA standards to select a guaranteed income provider for retirement plans can be a critical task for Plan Sponsors. As fiduciaries under ERISA, Plan Sponsors must prioritize the best interests of plan participants, which requires careful evaluation when choosing providers like annuities

Mary Beth’s Corner People are living longer, which presents both opportunities and financial considerations. Take, for instance, a 65-year-old couple: there’s an 89% chance that one partner will reach age 85, and a 45% chance of reaching at least age 95. This could mean planning for a retirement that spans

Employers may now consider retroactively adopting a tax-qualified retirement plan such as a profit sharing plan, cash balance plan, or traditional defined benefit plan, for the purpose of making tax deductible employer contributions before their extended corporate tax filing deadline.

Mary Beth’s Corner   According to Fidelity Investment’s 2023 Small Business Retirement Index, only 34% of small businesses are currently offering retirement savings to employees and 21% don’t know how to start the process of offering a retirement plan, or which retirement plan vehicle works best for them. Small business owners are faced

By 2025, most startup retirement plans will be required to automatically enroll new employees into their plan, unless they opt out, at an initial 3% employee deferral rate with auto escalation. – Sound familiar?

Since employers contribute for slightly different reasons, those contribution due dates may vary depending on plan design. In other words, one set of rules may specify a deadline for compliance purposes, while another set of rules requires a different deadline for tax deduction purposes.