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4 Financial Planning Items to Revisit During Tough Times
There is a financial adage that says, “Markets hate uncertainty”. It’s true – uncertainty causes stress. If there’s one thing that 2020 has served up in abundance, it is uncertainty and its accompanying feelings of fear, dread, and stress. However, it is precisely times like this that can become pivotal turning-points in an individual’s financial…
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IRS: Cafeteria plan sponsors to receive increased flexibility
On May 12, 2020, the IRS issued guidance to allow Section125 cafeteria plan sponsors increased flexibility with respect to mid-year election changes during calendar year 2020 related to health coverage, health FSAs, and dependent care assistance programs. The guidance also provides increased flexibility with respect to grace periods to apply unused amounts in health FSAs…
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Group Health Plans | Adjustments to Requirements and Deadlines
On April 28, 2020, The Department of Labor’s (DOL) Employee Benefit Security Administration (EBSA) issued EBSA Disaster Relief Notice 2020-01 to provide relief for various requirements and deadlines under the Employee Retirement Income Security Act (ERISA). For group health plans, subject to ERISA or the Internal Revenue Code, the relief provides additional time to comply…
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New Employee Leave under the FFCRA
On March 18, 2020 President Trump signed the Families First Coronavirus Response Act (FFCRA) into law. The new law included two significant leave program provisions going into place for 2020 due to the current pandemic. This exhibit includes information about the new leave provisions along with information about how they interact with the current Family…
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Investing for Retirement in a Volatile Market
In times of uncertainty and rapidly moving markets, staying the course and focusing on the long-term is a best practice. While market volatility is not fun, a diversified portfolio is well positioned to minimize damage.
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Retirement investing tips in a volatile market
Don’t panic, you are investing for the long-term: Don’t let short-term emotions dictate how you invest your long-term assets. Remember you are not investing for today, but for the future. Don’t time the market: Timing the market will likely not improve investment results and is more likely to result in disappointing returns. Stay diversified: Asset…
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Retirement Plans: Investment Committee Checklist
The fiduciary landscape is changing, and processes once seen as “good enough” no longer check all of the right boxes. Use this straightforward checklist to ensure the investment committee is covering its bases. Plan Investments Plan Fees Participant Outcomes Fiduciary Governance Have questions on your retirement plan? Contact our team!
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Building a Successful Investment Committee
The standards plan fiduciaries are held to seem to be rising. A critical step in meeting your fiduciary responsibility is to start an investment committee or strengthen your current one. These high-level investment committee basics break down what a successful committee looks like. Committee Structure Size: Typical committee size ranges from 3 to 9 members. The…
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What you need to know about fiduciaries
While the word fiduciary has been a popular buzz word in the news, like most things in the financial industry, it can be a bit confusing. By definition, a fiduciary is a person to whom property or power is entrusted for the benefit of another. You can see how this broad definition might support the confusion…
