Empower recently announced an agreement to acquire MassMutual’s retirement plan recordkeeping business. The acquisition is expected to capitalize on both firms’ experience and expertise to the benefit of retirement plan participants and plan sponsors. Plans currently utilizing MassMutual are being notified of this action and should expect no changes or disruption to current operations during...Read More

Many Defined Contribution retirement plan participants are uncertain as to benefits of allocating their contributions to traditional vs Roth options. This is for good reason. There are two key major determiners as to the benefit of contribution to Roth: Will they be in a higher or lower tax bracket in retirement? Will tax rates increase,...Read More

With the recent market volatility, it’s understandable that you may be concerned about your investments. Volatile markets can make you wonder if you’re on track to meet your retirement goals. Don’t be discouraged and most of all, don’t panic. Instead, be proactive! Consider the following steps you should be taking in both up and down...Read More

Don’t Cash Out Retirement Plans When Changing Employment When you leave a job, the vested benefits in your retirement plan are an enticing source of money. It may be difficult to resist the urge to take that money as cash, particularly if retirement is many years away. If you do decide to cash out, understand...Read More

Saving for retirement isn’t easy. However, what you may not realize is that by making small adjustments you can save a substantial amount that can be added to your retirement plan. How often do you find yourself stopping for coffee on the way to work? Do you go out for lunch several times a week?...Read More

In life, surprise expenses are bound to happen. If you had an unexpected emergency expense of $400, would you be able to pay for it? If your answer is, “No,” you’re not alone. Forty-four percent of Americans said they would have difficulty with an emergency expense of $400.¹ Furthermore, 140 million Americans have little or...Read More

ARE YOU REDUCING YOUR DEBT? You’ve heard the phrase, “Slow and steady wins the race.” The same is true when it comes to reducing debt. Start with your smallest debt and then work on your larger debts. If debt is a leading contributor to your overall stress, you’re not alone. The national average for household...Read More

This month’s employee memo encourages employees to conduct a regular examination of their retirement plan to determine whether any changes need to be made. Download the memo from your Fiduciary Briefcase at fiduciarybriefcase.com. Please see an excerpt below. It is important to conduct regular check-ups on your retirement plan to make sure you are on...Read More

The payment of expenses by an ERISA plan (401(k), defined benefit plan, money purchase plan, etc.) out of plan assets is subject to ERISA’s fiduciary rules. The “exclusive benefit rule” requires a plan’s assets be used exclusively for providing benefits. ERISA also imposes upon fiduciaries the duty to defray reasonable expenses of plan administration. General...Read More