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Showing entries from 2020.

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20

Feb 2020

Employee Deferral Trivia

A question in our recent SECURE Act webinar concerning a relatively obscure rule in 457(b) plans inspired a look into the absolute maximum that an individual could voluntarily defer into any combination of qualified retirement plans (403(b)/401(k)/457(b)) in 2020. The result was surprising: The 457…

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13

Feb 2020

Decumulation Confusion: Social Security Claiming Strategies

In Part 1 of our decumulation series, we discussed the oft-overlooked topic of decumulation, or the spending of retirement plan assets during retirement years. In Part 2, we explored annuities as a decumulation strategy and the associated confusion for retirees. In Part 3, we examined the 4% rule, a…

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06

Feb 2020

Revisiting the 2019 Retirement Plan Trends

A little over a year ago, I made predictions as to the 2019 hot trends for retirement plan sponsors. So, how did I do? Let’s take a look at how the predictions fared: An increased focus on non-savers — Verdict: No — I’m a bit annoyed that I struck out with this one, as it likely would h…

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29

Jan 2020

The Beginning of the End for Asset-Based Retirement Plan Recordkeeping Fees?

In The Top Retirement Plan Trends for 2020 we discussed the migration of retirement plans from traditional percentage of assets-based recordkeeping fees to per-participant fee structures. By implementing a per-participant model, recordkeeping fees do not snowball as plan assets grow (which only stan…

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23

Jan 2020

For Plan Sponsors with Choice: Is a 403(b) or 401(k) Plan Right?

Some organizations, like 501(c)(3) tax-exempts, have a choice in the type of retirement plan they offer. For many of these plan sponsors, a 403(b) plan makes the most sense; but for some, a 401(k) may be the right choice. Below are some of the primary factors that may help determine which type of re…

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16

Jan 2020

The SECURE Act Facts: What You Need to Know Now

To the surprise of many, significant retirement plan legislation, known as the SECURE Act, was signed into law by President Trump on December 20, 2019, thanks to its attachment to a must-pass budget appropriations bill. While comprehensive coverage of the Act will be the feature of upcoming thought …

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09

Jan 2020

The Retirement Plan Terms to Avoid

At a recent That 401(k) Conference, I had pleasure of viewing a presentation on a defined contribution plan language study from Invesco that, to be frank, floored me. Common retirement plan terms, used by me and many others, scored terribly when deployed in participant communications – with some eve…

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