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Showing entries from 2021.

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18

Mar 2021

Favorable Features of 403(b)

403(b) plans have been known to receive a bad rap – related, in part, to the difficulties surrounding the public K-12 marketplace with which they are associated, and also due to the perception that they are a step behind 401(k) plans with respect to marketplace innovations. Despite these challenges…

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11

Mar 2021

Is the Word “Retirement” a Dinosaur for Younger Savers?

A recent 403(b)wise webinar featured some enlightening discussions between female financial educators regarding their retirement and general financial situations. The first speaker, 30-year-old Tara Slyman, commented that when previously asked about her plans for retirement, she responded that she h…

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04

Mar 2021

Making a Good Retirement Plan Better

One of the key components to becoming a best-in-class retirement plan is the desire to continually evolve. However, due to complacency or certain circumstances - the current global pandemic, for example - an otherwise well-run retirement plan may find itself stuck, unable to move the plan forward in…

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25

Feb 2021

Is the Final Fiduciary Rule Really Final?

Despite the new presidential administration hinting at a delay, the Department of Labor’s (DOL) Final Fiduciary Rule became effective on February 16, 2021. Since there has been more than a decade spent waiting for a rule to become the Final Fiduciary Rule, this is significant news. However, in a pr…

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18

Feb 2021

403(b) Plans: The Trendsetters for ESG Investing?

403(b) plans are rarely ahead of the curve on major retirement plan innovations. These plans were certainly not the early adopters of trends like per-head flat dollar pricing or zero revenue share funds. However, there is one area in which they are leading the charge: the adoption of Environmental, …

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11

Feb 2021

The “Best” Annuity Out There: The One Participants Already Have

A frequent question from participants transitioning from the accumulation phase to the decumulation phase of their retirement plan lifecycle is whether they should consider using some or all of their assets to purchase an annuity to lock in an income stream in retirement. Often, what these participa…

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04

Feb 2021

There’s Always Money in the Retirement Plan

In the cult classic TV sitcom, Arrested Development, one of the funniest scenes involved former CEO-turned-prisoner, George Bluth (played by Jeffrey Tambor), and his son, Michael Bluth (played by Jason Bateman). During a jailhouse visit to George, Michael indicated that there was money trouble, to w…

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28

Jan 2021

Post-CARES Act: A Checklist for Retirement Plan Sponsors

As of this writing, the loan and distribution provisions of the CARES Act have not been extended. This means that these provisions expired on or before December 31, 2020. Considering this, plan sponsors should ensure that any CARES Act provisions added to their retirement plans are administered in a…

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21

Jan 2021

Measuring ROI on Financial Wellness Programs

Considering the woeful state of employee financial wellness statistics and the number of individuals living paycheck-to-paycheck, employer-sponsored financial wellness program should be relatively effective. But how can we determine whether the programs are working as intended? There has not been a…

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14

Jan 2021

The Coronavirus Relief Bill: Few Concerns for Retirement Plan Sponsors

This time last year, retirement plan sponsors and those who work with them were focused on the ramifications of the SECURE Act, the first piece of retirement plan legislation in over a decade. Shortly thereafter, the CARES Act took center stage and left plan sponsors to deal with more changes. Towar…

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