Plan Design | Participant Outcomes | Uncashed Checks | And More Our first quarter 2019 newsletter features an article on addressing participant inertia with retirement plan design. Also included are articles on Participant Outcomes, Addressing Uncashed Distribution Checks, ABG News, and More. February 12, 2019 By Petros Koumantaros Newsletter newsletter, plan design, participant outcomes, uncashed checks, distributions Comments Read More >>
Aligning Plan Design with Your Goals We focus on aligning your retirement plan design to your specific situation. By determining the plan design that’s the right fit, you’ll be well positioned to take full advantage of the special savings and tax treatments afforded qualified retirement plans. Take a couple of minutes to watch this Spectrum Employer Connect video to refresh yourself on the broad retirement plan design options available. February 1, 2019 By Petros Koumantaros Employer Connect 401k, defined benefit, plan design, cash balance, video Comments Read More >>
Advantages of an Unbundled Retirement Plan Solution Buying “off the rack” can be cost effective, but often limits choice and flexibility. And we all know that a custom approach will typically offer the best fit. This analogy accurately describes the difference between a “bundled” 401(k) solution from a single provider and an “unbundled” solution delivered by multiple expert specialists. In this episode of Spectrum Employer Connect we contrast bundled and unbundled platforms. We invite you to take a few minutes to watch the video and review the accompanying Action Doc. January 15, 2019 By Petros Koumantaros Employer Connect bundled, unbundled, 401k, video Comments Read More >>
Spectrum Update and Service Enhancements Q4'2018 Q4'2018 was a strong quarter for Spectrum. We were thrilled that one of Spectrum's clients, Seattle Indian Health Board, was recognized as ABG's Plan Sponsor of the Year. Spectrum enhanced participant account security by implementing multi-factor authentication on its retirement platform. Finally, we launched a Cash Balance Pension Plan Calculator, to show employers whether cash balance pension plans might make sense for their organizations. January 8, 2019 By Petros Koumantaros Announcements psoy, cybersecurity, cash balance, plan sponsor of the year, abg, mfa Comments Read More >>
Understanding Financial Statement Audits While we hope you never have had to experience it, you’re no doubt familiar with the idea of an audit of your personal or corporate tax return. But, you may not be familiar with an audit of your qualified retirement plan. This Spectrum Employer Connect video explains the situations where a financial statement audit may be required. Understanding when and for whom these audits are required can help ease your concerns over the prospect of a plan audit. January 1, 2019 By Petros Koumantaros Employer Connect dol, irs, audit, erisa, video, bond Comments Read More >>
Maximizing a Business Owner’s Retirement Benefit It’s a common story – business owners put everything into their businesses for years before being in a financial position to put real money away for retirement. That might describe your situation. This Spectrum Employer Connect video highlights a number of very effective plan design options that can help you realize your full retirement savings potential. December 15, 2018 By Petros Koumantaros Employer Connect business, owner, defined benefit, cash balance, 401k, plan design, video, safe harbor Comments Read More >>
Understanding How Forfeitures Work in Your Retirement Plan We know that employee contributions to a 401(k) plan must always be 100% vested. However, employer contributions may have a vesting schedule attached to them. That means, when employees leave the company and plan, they may leave behind forfeitures. This Spectrum Employer Connect video highlights the advantages of using vesting for employer contributions. And we also discuss the most common methods for treating plan forfeitures. December 1, 2018 By Petros Koumantaros Employer Connect 401k, forfeiture, forfeit, vested, vesting, video Comments Read More >>
The Loan They Never Take May Make All the Difference Today, there's a good bit of debate about how participant loans affect long-term retirement outcomes. So, how do we best view these plan options and – more importantly – how do we coach employees on their use? In this video, we offer a perspective of loans and hardships within the context of financial wellness. We invite you to watch the video and review the accompanying Action Doc to gain insight on how to help employees think more critically about managing their financial realities and saving for their future. November 15, 2018 By Petros Koumantaros Employer Connect loan, participant, video, hardship, withdrawal Comments Read More >>
401k Loans | Fiduciary Responsibilities | Maximizing Tax Deductions | And More Our fourth quarter 2018 newsletter features an article on borrowing from your 401k plan. Also included are articles on Fiduciary Responsibilities, Maximizing the 20% Tax Deduction, ABG News, and More. November 2, 2018 By Petros Koumantaros Newsletter newsletter, loan, fiduciary, tax deduction Comments Read More >>
Plan Fiduciary Services and Why They Matter In a plan sponsor's capacity as fiduciary to its plan, the plan sponsor has a variety of specific responsibilities to manage–or–outsource to a professional, qualified third party. A 3(16) fiduciary service is the mechanism where you, as plan sponsor, can outsource some, or all, of your administrative fiduciary responsibilities. This video highlights these administrative fiduciary responsibilities and your options to manage or delegate this role to a 3(16) fiduciary service provider. November 1, 2018 By Petros Koumantaros Employer Connect fiduciary, 3(16), plan sponsor, video, erisa Comments Read More >>