Top of Mind


13

Sep 2018

Now that Summer's Over, Something to Worry About for the Fall

I hope all of you who work for or with retirement plan sponsors had a delightful summer! As for the fall, it is about to get interesting for most of you mainly due to the Bipartisan Budget Act of 2018, more commonly known as the Tax Reform bill.

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30

Aug 2018

When Saving for Retirement MIGHT Not Make Sense

It makes a ton of objective sense in most cases to voluntarily save to a retirement plan particularly if you are young and your company makes an employer matching contribution. However; there are some scenarios where saving for retirement MIGHT may not always be the best option.

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16

Aug 2018

Why Financial Literacy Would Have Been Lost on My Younger Self

Properly executed financial literacy, financial wellness - or whatever you want to call campaigns that aim to prevent people from making poor choices with their money - are a tremendous benefit. However, traditional programs can have difficulty attracting an audience. Back when I needed it the most …

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02

Aug 2018

Making Sense of Auto-Enrollment Rules

While the IRS means well, when reviewing some of the regulations, I cannot help but wonder if someone was thinking, “How can I make this as difficult to understand as possible?” Such is the case with automatic enrollment. To start, the IRS doesn’t call it auto-enrollment, they refer to it as an “au…

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26

Jul 2018

Teach Your Children to Save

My son has $400 in his savings account. Now, that might not sound like a lot, but consider the following: My son is 12 and does not yet have a job His father, who has been working continuously since he was 11, did not have any savings until he was in his thirties; and outside of retirement, strug…

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19

Jul 2018

Why Median > Average When it Comes to Retirement Plan Account Balances

In a recent article by Barry Ritholtz, he mentions a concept that should be drilled into every retirement plan sponsor’s head when they review their recordkeeper statistics as to the success of their retirement plan:  median is more significant than average. In the retirement plan’s “dashboa…

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