401(k)

The Small Business Guide to Retirement Plan Options in Pennsylvania

As a small business owner, you understand the immense value of your employees. Providing them with robust retirement savings options is a powerful way to invest in their future and strengthen your company's long-term success. We know that navigating the complexities of retirement plans can feel overwhelming. We're dedicated to simplifying this process. With over 25[...] Continue reading

Understanding Common 401(k) Investment Options

A 401(k) retirement plan remains a popular investment choice for several reasons, including the potential for tax-deferred growth on contributions and earnings, and the reduced current taxable income through pre-tax contributions. While investment options within a 401(k) may be curated by the plan sponsor, understanding how each works is crucial. This knowledge[...] Continue reading

How to Pick a Beneficiary for Your 401(k)

Choosing a beneficiary for your 401(k) is an important decision. Learn more about how to select a beneficiary and what to do once you decide. What Is a Beneficiary? In the most simple form, a beneficiary receives money, estate, and other benefits from someone else, called the benefactor. In other words, you, the benefactor, would designate a beneficiary — or[...] Continue reading

Critical questions for plan sponsors: Do you have written record of the plan minutes and documents?

Written records of retirement plan minutes and documents are essential because if something is not in the file, then technically it didn’t happen. So, if the IRS or the Department of Labor comes knocking at a business and asks about the plan, or why the retirement plan committee has made certain decisions, plan minutes are one of the items they want to see. These[...] Continue reading

Critical questions for plan sponsors: Do you understand all the fees that you are paying?

As a plan sponsor, it’s your fiduciary duty to understand the fees associated with your plan and if they are reasonable. This is one of the largest areas where breach of fiduciary duty lawsuits originate. There’s several levels of fees. An understanding of how service providers, record keepers and/or custodians are compensated in the form of fees is crucial. As a[...] Continue reading