If you pay attention to financial news, you might have heard about the Backdoor Roth or maybe, some Mega Backdoor Roth strategies. So, what are they, and how can you benefit from them? If you’ve ever wondered what a Backdoor Roth or Mega Backdoor Roth strategy is,...
What’s the key to starting retirement savings earlier? A recent survey of workers showed that it’s auto-enrollment in workplace retirement plans! The recent quarterly Principal® Retirement Security Survey showed that 84% of respondents said they started saving...
According to a recent Franklin Templeton survey, about 80% of respondents said their retirement vision is changing – and that the future of retirement is different for everyone. So, what does that mean exactly? How is retirement changing and what will it look like in...
During the early months of the COVID-19 global pandemic, many Americans withdrew money from a retirement savings account. And a recent study has shown that many – about half who took a loan or withdrawal from their retirement savings account – took more than they...
The Internal Revenue Service (IRS) has several new initiatives — audit initiatives and compliance checks — that might affect retirement plans. So, what do you need to know about the new IRS info? Here are some of the initiatives that were released on...
If you are sitting down to do your taxes, or if you are getting ready to sit down with your accountant, here’s your friendly reminder that there are new rules for required minimum distributions from your retirement accounts. In the past, those with retirement accounts...
Calling all plan sponsors: If your plan sponsor clients recently received approval for a filing extension they filed months ago for 2019 Form 5500 – there’s been a change. Plan sponsor clients don’t have to do anything if they received this approval (likely...
Years after it was requested, the Department of Labor has issued guidelines on how plan sponsors can avoid issues with lost or missing plan participants. Last month, January 2021, the department issued the guidance, including ways employers can track down missing or...
If you are in the so-called “sandwich generation,” you have likely been smushed between caring for young children and aging parents during the COVID-19 pandemic. So, what does that mean? The “sandwich generation” is defined as people – sometimes millennials, sometimes...
If you have a retirement plan, you might have heard about the new 401(k) investment limits for 2021. It’s true: More change is coming for 401(k) investment limits in the new year and you need to be informed. Every year, the Internal Revenue Service reviews 401(k)...
Recent Comments