Jim Keenehan, AIF®, CPFA

Recent Posts

Your 401(k) Defense Strategy: Learn from Triumph Case in ERISA Fiduciary Battle

Navigating the complexities of ERISA fiduciary claims and managing a retirement plan can be challenging. There's one recent case that's making waves – the Nunez et al., v. B. Braun Medical Inc. et al. saga. This 63,000-member class action accused B. Braun and its retirement committee of breaching ERISA's fiduciary duties. After a three-day bench trial, the Eastern District of Pennsylvania ruled in favor of B. Braun on all fronts. This victory marks a game-changer in the 401(k) landscape, especially when it comes to investments and recordkeeping fees.

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3 Strategies for Assisting Employees with Debt and Financial Stress

In today's society, it has become the norm rather than the exception for American workers to live paycheck to paycheck, struggling just to make ends meet. Shockingly, a third of Americans have $500 or less saved, while 8.5% have between $501 and $1,000, and 11.4% said they have no savings. This lack of financial preparation leaves them vulnerable to unexpected expenses and places them at a higher risk of financial strain.


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Does My Organization Have the Best Financial Wellness Program?

Many organizations who aren’t acquainted with financial wellness programs have a tough time understanding how it can benefit their employees, and that’s ok. We all begin at different stages. However, if you’re reading this article, then hopefully you’ve already seen the positive effects a program can have on your employees. So, we then ask you, when was the last time you evaluated your financial wellness program provider or advisor? Here is a mini-guide with questions to ask to ensure you are in good hands with your financial wellness benefit offerings.

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How to Make Your Retirement Plan Audit Preparation Painless

Each year, most organizations and their retirement plan fiduciaries must go through their annual 401(k) (or 403(b)) audit. Employee retirement plans are heavily governed by the Department of Labor (DOL) and Internal Revenue Service (IRS); and, the retirement plan audit makes sure that all the work involving the Plan was done correctly throughout the year, and if it wasn’t, identify the proper steps are taken to fix things and implement controls to prevent issues in the future.

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3 Easy Steps to a Financial Wellness Program that Actually Works

Financial Wellness is by no means a new idea, but this year its need is beyond measure. Today, many Americans are struggling with their day-to-day finances: Studies show that nearly 76% of employees are living paycheck-to-paycheck; 29% say they deal with personal financial issues on the job – often for two to three hours a week, and 70% of companies who have financial wellness programs don’t have formal measurements to assess the value of those programs.

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What’s the Future of Student Loan Benefits in the Workplace?

Finding the right employees – and keeping them – is becoming increasingly difficult for employers. Unemployment numbers are low which means employees can be more selective in their job searches. Now, more than ever, you must have the right benefits packages in place in order to win in this competitive landscape. And to attract the best and brightest young talent, you have to get creative.

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6 Ways to Protect Yourself as a New Fiduciary

Okay, you have accepted the invitation to become a fiduciary for your company’s retirement plan. Now what? Here’s a simple rule to follow: As a plan fiduciary, you must always act in the best interest of the plan’s participants and their beneficiaries. No exceptions!

It’s normal to feel overwhelmed as you prepare for your first retirement plan committee meeting, so to help we have assembled a few best practices to help you get ready.

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The 3 Most Common Retirement Questions from Employees Answered

At AFS 401(k), our advisors are constantly in contact with employees from all income levels, educational backgrounds, and industries and we see common themes when it comes to the types of questions they are asking us. Alex Assaley, our Managing Principal, spends most of his time with plan participants helping them navigate their retirement savings. “People need help with this stuff, delivered in a down-to-earth manner that can take them from point A to point B, and let them get on with their day," he says of people's common challenges when dealing with their retirement plan. While we hear a wide variety of questions and concerns from people on a daily basis, here are the three that we hear the most: 

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VIDEO: Are HSAs the Missing Piece to Your Employees' Benefits Package?

As more organizations begin to expand their employee benefits, are Health Savings Accounts, or HSAs, a good fit for your employees? An HSA is a savings vehicle designed to assist with out-of-pocket medical expenses, but it can double as another way for your employees to save for retirement. Currently, only those enrolled in a high-deductible health insurance plan are eligible to take advantage of an HSA. Employees can use the funds to pay for qualified medical expenses such as premium payments, deductibles, copays, and prescriptions.

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