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Thin(k) About Your 401(k) Plan: A Non-401(k) Plan Week – A Fascinating Resource of Reports From McKinsey

McKinsey has recently published a fascinating and useful collection of reports Charting The Path To The Next Normal: A daily chart that helps explain a changing world - during the pandemic and beyond.  The page is full of charts linking to…
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Thin(k) About Your 401(k) Plan: Retirement Savings Tax Credit – Drive Employee Participation

Plan administrators often ask me about how to increase employee participation rates in their 401(k) plans.  How do I get my employees to save when they don’t feel that they can spare the money?  The Retirement Savings Tax Credit could be…
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Fellow Women – Bring Together Money and its Meaning in Your Life

Five months into a quieter isolated life, many of us have taken to online yoga classes, healthier home cooking, and meditation as ways to deal with the disruption. But as you strive to bring peace into your life, are you at peace with…
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Thin(k) About Your 401(k) Plan: Target Date Funds - 401(k) Plan’s Investment Choice

Targeted Date Funds (TDFs) are clearly here to stay with more and more 401 (k) Plan Participants using them as a primary investment option.  Vanguard’s recently release report, How America Saves 2020 shows that 80% percent of participants…
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Thin(k) About Your 401(k) Plan: Paying Plan Expenses With Plan Assets...Not So Fast!

Lagniappe, which the Society of Louisiana Certified Public Accountants publishes nine times a year, asked our Fritz Gomila about using 401(k) plan assets to pay for plan expenses.  Below is Fritz' article. Click here for link to Lagniappe. Paying…
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Thin(k) About Your 401(k) Plan To Opt-Out or To Opt-In - 401(k) Plan Autopilot Design

Plan Sponsors are increasingly adopting automatic enrollment features for employees that flip the decision process and the results are impressive!  Vanguard’s recently release report, How America Saves 2020 indicates that as of 2019,…
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Thin(k) About Your 401(k) Plan: Don’t Leave Money On The Table - 401(k) Plan Matches

Many 401(k) plans sponsors offer participants a matching contribution based upon the participant’s savings.  This is a real benefit that your employer is providing to you.  But, have you taken the time to actually calculate the implication…
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Thin(k) About Your 401(k) Plan: Dig A Little Deeper - 401(k) Plan Loans

  Many 401(k) plans offer participant’s the ability to take a loan against their vested account balance.  But, do participants fully understand the implications of borrowing from themselves through their retirement account? …
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Thoughts in Charts: Retirement as a Third Act

  Retirement is a beginning, not an end.  In 1935, when Social Security established a retirement age of 65, the average American man was not expected to live past 58 years old. Now, age 65 marks the beginning of an expected 20-year…
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Thin(k) About Your 401(k) Plan: To Roth Or Not To Roth

This recently released XpertHR’s 2020 Employee Benefits Survey caught my eye. The survey indicates that while two-thirds of respondents offer traditional 401(k) plans allowing participants to save pre-tax, only approximately 38% of these…