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Visit Benefit Trust At The ASPPA Conference 2019

Want to learn more about retirement planning in the modern age from experts in the industry? Join us at the 2019 ASPPA Annual Conference, October 20-23 in National Harbor, Maryland! This conference dives deep into the new regulations and legislation surrounding the retirement industry, giving attendees an in-depth understanding of financial planning and how it …

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Take a Pass on Nondiscrimination Testing with a Safe Harbor 401(k)

As a 401(k) plan sponsor, you have probably received your mid-year nondiscrimination testing results. Did your plan pass? There are no consequences for failing mid-year testing, but it does give you fair warning that your plan may not pass at year-end. If the plan doesn’t pass year-end testing, you will have to take corrective actions …

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Using Plan Metrics to Help Drive Positive Participant Outcomes

Are your employees saving enough to retire at a reasonable age with financial security? Workers who have a retirement plan available to them are dramatically more likely to save money for retirement than those who do not have a plan (79% vs. 17%). Unfortunately, even when a plan is available, many employees choose not to …

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Correcting Common Loan Mistakes

Many retirement plan participants are thankful their employer’s retirement plan allows them to borrow from their savings before retirement and – if all goes according to plan – repay the loan back into their account. The tax laws permit these plan loans, so long as certain regulatory requirements are met. Employers must follow these rules …

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Fiduciary Support for Plan Sponsors

Studies have shown that having access to a retirement plan at work is a crucial factor in whether American workers are financially prepared for retirement. But this good deed does not come without responsibility. The Employee Retirement Income Security Act of 1974 (ERISA) imposes important obligations and high standards of conduct on those who establish …

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What is the NAPA 401 (k) Summit

Another year, another incredible few days ahead with the 2019 NAPA 401(k) Summit. Benefit Trust will once again be attending the summit, the nation’s largest and most prestigious retirement-plan advisor event of the year. The event is being held April 7th-9th in Las Vegas, NV. There are over 30 individualized sessions to choose from that …

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Hardship Distributions Less of a Hardship for Plan Sponsors & Participants

When workers experience a financial hardship, sometimes their retirement plan is the only financial resource they can tap into. The tax laws for qualified retirement plans, like 401(k) plans, permit plan sponsors to grant hardship distributions to workers if the requirements listed in Treasury regulations and the plan documents are met. Most 401(k) plans permit …

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How Much Do I Need to Save For Retirement?

As a financial advisor, you can help retirement plan participants improve their chances of achieving a financially secure retirement by helping them calculate how much they should be saving each year through their workplace retirement plan. Simply providing a projection of their current savings as a monthly income stream in retirement can be a powerful …

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Cost of Living Adjustments for Retirement Plans (COLA)

Each year in October, the IRS announces the cost-of-living adjustments (COLAs) that will apply to retirement plan contribution limits and other thresholds for the following calendar year. Any change to the contribution limits requires adjustments in payroll systems and internal procedures designed to make sure plan contributions stay within the allowed limits. This chart provides …

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Cashouts: Locating Missing Participants

Most defined contribution retirement plans contain a “cashout” provision that allows the plan sponsor to pay out retirement savings to workers who end their employment with less than $5,000 in their account. These forced cashouts can help reduce the staff burden and costs associated with keeping track of former employees in order to administer their …

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HSAs and Retirement Planning

With the rising cost of health care, some workers are concerned they won’t be able to save enough for retirement. In fact, of workers who reported cost increases in their health plans in the past year 26%: decreased their retirement plan contributions 43% decreased other savings contributions 15% took a loan or withdrawal from a …

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Investment Policy Statement (IPS)

Plan sponsors have important obligations as ERISA fiduciaries to a retirement plan. They must follow ERISA’s high standards of conduct as they administer the plan and safeguard participants’ assets. The key to managing ERISA fiduciary responsibilities is developing and following prudent plan governance practices. Adopting policies and procedures to make certain they are handling plan …

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Visit Benefit Trust at the ASPPA Conference

Join us at the 2018 ASPPA Annual Conference, October 21–24 in National Harbor, for the most relevant technical content in retirement planning. Explore the vibrant waterfront of National Harbor, attend the president’s reception and rock out to the classic 1980s hits at the Deloreans concert. You won’t want to miss this event! We love visiting …

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A Fiduciary Calendar

Plan sponsors have important obligations as ERISA fiduciaries to a retirement plan. First of all they must follow ERISA’s high standards of conduct as they administer the plan and safeguard participants’ assets. The key to managing ERISA fiduciary responsibilities is developing and following prudent plan governance practices. Adopting policies and procedures to make certain they …

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Plan Check-Ups

Plan sponsors have important obligations as ERISA fiduciaries to a retirement plan. They must follow ERISA’s high standards of conduct as they administer the plan and safeguard participants’ assets. The key to managing ERISA fiduciary responsibilities is developing and following prudent plan governance practices. Adopting policies and procedures to make certain they are handling plan …

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Internal Controls

Plan sponsors have important obligations as fiduciaries to a retirement plan. They must follow ERISA’s high standards of conduct as they administer the plan and safeguard participants’ assets. The key to managing ERISA fiduciary responsibilities is developing and following prudent plan governance practices like internal controls. Adopting policies and procedures to make certain they are …

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Fees and Fee Disclosures

Plan sponsors have important obligations as ERISA fiduciaries to a retirement plan. They must follow ERISA’s high standards of conduct as they administer the plan and safeguard participants’ assets. The key to managing ERISA fiduciary responsibilities is developing and following prudent plan governance practices like fee disclosures. Plan sponsors who adopt policies and procedures to …

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Revenue Sharing In Your Retirement Plan

“Revenue sharing,” a fee-for-service arrangement between investment companies and retirement plan service providers, is attracting the attention of retirement plan sponsors. As ERISA fiduciaries to a retirement plan, employers must understand how revenue sharing arrangements affect their plan fees. Against the backdrop of a growing number of lawsuits alleging that fiduciaries breached their duties by …

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QDIA – A Win-Win for Plan Sponsors and Participants

In life, there are few win-win propositions, but for employers who sponsor a 401(k) plan that allows plan participants to direct their own investments, choosing a Qualified Default Investment Alternative (QDIA) can benefit both the employer and the plan participants.   ERISA Requirements for Plan Sponsors The plan fiduciary (typically the employer sponsoring the plan) …

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Take Charge of 401(k) Plan Distributions

Plan sponsors engage a record-keeper or third party administrator (TPA) to help them manage their 401(k) plans. However, the plan sponsor is still responsible under ERISA for overseeing operations. They’re also responsible for making certain the plan is consistent with the terms of the plan document. This includes authorizing distributions. Plan sponsors must understand the …

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Choosing Target Date Funds

Target Date Fund (TDF) options are plentiful and have become one of the most popular investment alternatives in qualified retirement plans. In fact, defined contribution retirement plans hold 67% of the over $1 trillion of TDF mutual fund assets.1 TDFs are popular with plan sponsors. Why? TDFs make investment decisions easy for plan participants who …

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nBalance – Fund of Funds Portfolio Management System

Benefit Trust Company’s “nBalance” is an automated, state-of-the-art, multi-currency Fund of Funds (FoF) portfolio cash flow management system, offered as a Benefit Trust-hosted service, which is designed to provide algorithmic cash flow allocation and rebalancing for asset allocation models that span an arbitrary number of hierarchal sub-asset class levels.  nBalance can deploy cash flows in …

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The Napa 401(k) Summit

what is the napa 401(k) summit? Expert retirement industry speakers by day and Nashville’s musical talent by night. Benefit Trust will be attending the 2018 NAPA 401(k) SUMMIT & Country Music Festival. These events will take place April 15th – 17th in Nashville, TN. Here we’ll come together with fellow retirement plan professionals for the …

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