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Pension Credit for Prior Police Department Service – Senate Bill No. 464
Senate Bill No. 464 was signed into law by the Governor on July 8, 2024. This bill allows for a city (except first-class cities), borough, town, township or regional police department to amend its plan to allow full-time officers who have satisfied the vesting requirements the option to purchase up to five years of pension service credit for prior part-time or full-time police service provided in a police department.
Read StoryStable Value Funds and Market Value Adjustments
Stable value funds and market value adjustments (MVAs) have been a topic of discussion recently due to the changing interest rate environment over the last 18 months. With the increase in rates, MVAs are being assessed at a higher rate to protect against potential losses.
Read StoryESOPs and Investing Non-Employer Stock Assets
When it comes to Employee Stock Ownership Plans (ESOPs), much of the focus tends to be on employer stock. However, fiduciary responsibility extends beyond just managing these shares. It also includes the “Other Investments” account within the ESOP, which can significantly impact the financial wellbeing of plan participants.
Read StoryHow to switch from a SIMPLE IRA to a Safe Harbor 401(k) | SECURE 2.0 Made it Easier
Small businesses with a SIMPLE (Savings Incentive Match Plan for Employees) IRA may want to switch to a Safe Harbor 401(k) due to the higher contribution opportunities and flexible plan design options. Fortunately, the passage of the Secure 2.0 Act of 2022 has made it easier for employers to make this switch. SIMPLE IRA vs. […]
Read StoryPooled Employer Plans (PEPs) vs. SIMPLE IRA
There are now many different retirement plan options for employers. It is becoming more common to see Pooled Employer Plans (PEPs) and SIMPLE IRAs evaluated against one another. Both types of plans can be good options for the right situation. We take a look at the differences between the two plans here: PEP SIMPLE IRA […]
Read StoryFinally, the Pivot
It was something that investors were waiting over a year for – an announcement from the Federal Reserve (“Fed”) that they no longer expected to raise their benchmark Fed Funds Rate. This announcement, which happened on December 13th, also included some bonus information for investors in the form of more expected rate cuts in 2024 than previously thought.
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