Newsletter

October 2023 Newsletter

October 2023 Newsletter

Hardship Distributions Surge: Strategies for a Troubling TrendMore and more workers are taking hardship distributions from their 401(k) accounts, a recent report shows. Bank of America’s June 2023 Participant Pulse study reveals nearly 16,000 participants withdrew...

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September 2023 Newsletter

September 2023 Newsletter

The Retirement Savings Glass Is Only Half Full for WomenAccording to recent data from the National Council on Aging and the Women's Institute for a Secure Retirement, nearly half of women ages 25 and older lack access to a tax-advantaged, employer-sponsored retirement...

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August 2023 Newsletter

August 2023 Newsletter

Employees Want Financial Planning Support — and Aren’t Afraid to Ask for ItFinancial stressors including stubbornly high inflation and historic levels of credit card debt continue to impact workers across a wide range of income brackets. Twenty-eight percent of...

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July 2023 Newsletter

July 2023 Newsletter

Connection to Future Self Is Key to Retirement ReadinessThe relationship we forge with our future selves can greatly impact financial decision making in the present. Research conducted by social psychologist Hal Hershfield using functional magnetic resonance imaging...

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Is Your Retirement Plan “Catchy?”

Is Your Retirement Plan “Catchy?”

Is Your Retirement Plan "Catchy?" By offering — and encouraging — catch-up contributions, plan sponsors can demonstrate a heightened commitment to employee retirement readiness. Over a five-year period ending in 2020, nearly 15% of participants utilized catch-up...

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April 2023 Newsletter

April 2023 Newsletter

Your Plan Fiduciary Must-Do and Should-Do Lists When you’re a plan fiduciary, you are, of course, prioritizing what ERISA law requires of you. You have a checklist of Must-Dos. But there is also a list of things that you can do proactively that will keep the plan—and...

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March 2023 Newsletter

March 2023 Newsletter

The Retirement Reshuffle Is Impacting Plan Sponsors Across the nation, more and more workers are expecting to postpone retirement. In fact, a survey by the Nationwide Retirement Institute shows that 40% of older employees plan to retire later than anticipated because...

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February 2023 Newsletter

February 2023 Newsletter

Offboarding Employees from Your 401(k) Plan A full two-thirds of employees don’t receive guidance on managing their retirement plan benefit while offboarding. Leaving 401(k) or 403(b) balances behind can result in orphaned accounts that sit unmonitored and unmanaged...

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Other Resources

2024 Retirement Plan Limits

Retirement Plan Limits IRS Limits on Retirement Benefits and Compensation *Effective January 1, 2024  202420232022401(k), 403(b), 457 Elective Deferral Limit$23,000$22,500$20,500Catch-Up Contribution Limit (age 50 and older)$7,500$7,500$6,500Annual Compensation...

October 2023 Newsletter

October 2023 Newsletter

Hardship Distributions Surge: Strategies for a Troubling TrendMore and more workers are taking hardship distributions from their 401(k) accounts, a recent report shows. Bank of America’s June 2023 Participant Pulse study reveals nearly 16,000 participants withdrew...

Smart Portfolio Stress Testing: Your Retirement Safety Net

Smart Portfolio Stress Testing: Your Retirement Safety Net

You've been diligent—saving, monitoring retirement accounts, consulting your advisor. But are you prepared for life's uncertainties? Your retirement plan relies on assumptions: savings, investment duration, inflation, and returns. Life, however, loves throwing...