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How Do You Know When It's Time for a New Retirement Plan Advisor?

As a benefits professional, the relationship you have with your retirement advisor is a crucial one. Their role is to help you navigate some of the most complicated aspects of your job. A few phrases we often hear employers use to justify sticking it out with their current advisor are (even if the relationship isn’t working): "I think my advisor does everything they're supposed to do, performing an advisor search isn't worth the effort, and we've been doing business with them for years." Relationships are important in business, but it's not always equitable with getting the best service possible and doing what's right for your organization and, most importantly – your employees?

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Are Password Managers the Key to Online Security?

Passwords can be just as annoying as they are necessary, and most of us are probably all too familiar with the never-ending "forgot password, reset password, forget new password, repeat process" saga. Leveraging a password manager will not only keep your information secure, but also make it easier to keep track of the sheer number of passwords you need these days. With these benefits in mind, everyone should consider using a password manager to keep his or her online information protected and secure.

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The SECURE Act 2.0: What Does It Mean for Your Company’s Retirement Plan?

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

Early last year, Congress passed significant changes to retirement savings law that affected many in 2020, and will continue to affect many of us now in and in the future. This new law, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, was part of the massive government spending bill that was approved by Congress on December 19, 2019, and signed into law on December 20, 2019. This bill extensively reshaped the realm of employer-sponsored retirement plans for both employers and employees and enacted the biggest changes to the U.S. retirement system since 2006.

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Instilling Financial Responsibility in Your Children

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

Teaching money management skills is not a requirement in any school or college. Even though some institutions have begun to make efforts to include a lesson or class on the matter, the reality is that the responsibility rests on parents to educate their children on financial matters and shape their financial futures. This can be a daunting task, but financial discipline is one of the most valuable lessons parents can instill on their children. Educating your children on financial prudence early in life will help prepare them to take thoughtful ownership of their finances when the time comes.

Here are five ways to teach your children, no matter what age they are, financial responsibility and the value of such expertise.

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Is Buying a Second Home and Investing in Real Estate on Your Mind?

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

Home ownership is one of the biggest investments you can make in life. If and when you consider buying a second home for pleasure or potential rental income, the decision warrants thoughtful and careful consideration, especially in terms of your finances and long-term financial goals. You need to be prepared for the long-term responsibilities that come with owning a second home – from unpredictable and potentially costly maintenance repairs to taxes and the inevitable nuances of having renters – you need to ensure you are both financially and mentally prepared for the responsibility you are assuming. Here are five things to reflect on before you take the next steps towards ownership of a second property.

 

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The Final Stretch of 2020: The Markets and the Election

Alp Atabek, AIF®

Alp Atabek, AIF®

Blog Post

Saying 2020 has been a wild ride is putting it lightly. Although it would be great to fast forward and file this year in the past, we are not quite there yet. With two months left before the ball drops, a lot can still happen this year, especially with the election a mere few days away, promising phase-three vaccine trials, and an approximately two-trillion-dollar stimulus package being worked on. 

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IRS Updates 2021 Pension Plan Limits

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

Effective January 1, 2021 the IRS announced the 2021 Pension Plan Limitations. These changes will take effect in the upcoming tax year for retirement plans. 

Check out our infographic that details all the changes you'll want to be aware of in the upcoming year when it comes to your role managing an employer-sponsored retirement plan. 

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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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Mid-Year Check-Up: Legislation and the State of Retirement

As you continue to navigate the second half of this unprecedented year, we want to provide you with an update on the most important legislative changes enacted in 2020 thus far that directly impact you and your employees. The following information will help you gauge the changes to the retirement, employee benefits, and employer-sponsored retirement plan landscape throughout this year to ensure you are aware of what you are responsible for as an employer and/or committee member. In addition to discussing the items managers and HR executives should be aware of in terms of their organizations’ employees’ well-beings, financial lives, and benefits, I’ll also shed light on the overall state of retirement in this COVID-19 environment and explain how challenges can also create opportunity for long-term investors.

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