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Participant Loans: Benefit or Detriment?

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For many years, plan sponsors have wrestled with the decision to offer loans to their plan participants. Some consider them to be a benefit and even promote them as a legal way to use tax free money while participating in the plan. According to the Employee Benefit Research Institute, 87% of plan participants can take a loan against their retirement account. Of those employees with access to take a loan, about one-fifth borrow against the retirement account. Come retirement, what are the ef...
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Retirement Plan Maintenance

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Whether it’s your car, your air conditioning or your own health, virtually everything you depend on in life needs a periodic assessment. What’s working, what needs repair? A company’s retirement plan is no different. And the evaluation is no less complex than the one your primary care physician might use.This month’s newsletter is designed to introduce you to the elements that make up a well-functioning retirement plan. And as you’ll discover here, the cheapest plan...
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Every plan sponsor has a fiduciary responsibility to account for all funds in a retirement plan—including uncashed distribution checks. Do you know what your responsibilities are when a check goes uncashed or a plan participant falls off the grid? Is there a point at which you are no longer liable?This month’s newsletter answers those questions for you. And it offers guidelines and best practices you can follow to ensure your plan remains in compliance, you meet your fiduciary obliga...
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401(k): A to Z

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Although it's certainly true that not enough Americans are saving for retirement, it's also true that the many millions who are saving do so through an employer-sponsored defined contribution 401(k) plan. And as you may well know, 401(k) plans tend to generate a considerable amount of financial activity. The mobility of today's workforce means employees often request distributions when they move from one employer to another. Rollovers are common, too, as are hardship withdrawals.
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Keeping Abreast of Plan Loan Rules

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The first question on many FAQs for 401(k) plans is: How do I borrow from my plan? But just because the question is often asked, doesn’t mean the answer is simple.
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DOL Issues New Fiduciary Rule

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The Employee Retirement Income Security Act of 1974, also known as ERISA, helps protect those saving for retirement by mandating certain fiduciary responsibilities of those working in the retirement plan industry. In April 2017, the rules governing those responsibilities will change. Will you be ready?
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