Employer Connect Videos

SECURE Act

In 2019, Congress passed, and the President signed, The SECURE Act which stands for Setting Every Community Up for Retirement Enhancement. While the act is wide-reaching, in short it provides a number of measures which make it more attractive for employers like you to sponsor a retirement plan or enhance your existing plan. We invite you to watch the video, then contact us to discuss how – together – we can leverage these new rules to your advantage.

February 1, 2020

by Petros Koumantaros secure act, secure, secure act of 2019, legislation Comments

Your World Evolves and Your Retirement Plan Should, Too

Every business has a lifecycle. Over time, your business grows and changes; sometimes in small ways, other times in big ways. These changes can impact the needs and goals you – and your employees – have with respect to your retirement plan. Our goal is to ensure your retirement plan continues to evolve along with your business. We invite you to watch our quick video to learn how we can help your plan adapt to your current situation.

February 1, 2020

by Petros Koumantaros goals, plan design, plan amendment Comments

Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance

Under ERISA, anyone who handles plan funds must be covered by a fidelity bond. Different from fiduciary liability insurance, an ERISA fidelity bond protects your plan from losses that may result from fraudulent or dishonest acts. This Spectrum Employer Connect episode of covers four important things you should know about fidelity bonds.

February 1, 2020

by Petros Koumantaros erisa bond, fidelity bond, erisa, bond, bonding, fiduciary Comments

It’s Time to Restate Your Defined Benefit Plan Document

If your company sponsors a Defined Benefit Pension Plan, your plan document must be formally rewritten or “restated” to comply with the rules and regulations that were passed as part of the Pension Protection Act of 2006. We invite you to watch our quick video that will provide the information you need to know now, including the government deadline.

January 27, 2020

by Petros Koumantaros plan document, defined benefit, restate, restatement Comments

Encourage Greater Participation with a QACA Safe Harbor

You may know that Safe Harbor contributions to your 401(k) plan allows you to bypass the annual nondiscrimination testing requirements. This, in turn, ensures you can maximize your personal contributions to the plan. One of the Safe Harbor options is called a Qualified Automatic Contribution Arrangement or QACA for short. The unique characteristics of QACA can make your plan more attractive to your employees. This can boost participation rates and put more of your people on a savings path.

January 27, 2020

by Petros Koumantaros qaca, safe harbor, participation Comments

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 401k, defined benefit, plan design, cash balance, video Comments

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 bundled, unbundled, 401k, video Comments

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 dol, irs, audit, erisa, video, bond Comments

maximizing-business-owner-retirement-benefit-image

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 business, owner, defined benefit, cash balance, 401k, plan design, video, safe harbor Comments

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 401k, forfeiture, forfeit, vested, vesting, video Comments

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 loan, participant, video, hardship, withdrawal Comments

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 fiduciary, 3(16), plan sponsor, video, erisa Comments

Did You Know You Are a Fiduciary?

As a plan sponsor of a qualified retirement plan, you are a fiduciary of your plan. Unfortunately, some clients don’t know that. Nor do they understand the practical ramifications of this. That’s why we’re providing expert guidance on this vitally important topic. In this episode of Spectrum Employer Connect, we provide an overview of an employer's fiduciary role and responsibilities.

October 15, 2018

by Petros Koumantaros plan sponsor, fiduciary, video Comments

When to Set Sail with Safe Harbor

Many company owners actively seek to maximize their 401(k) contributions each year. That’s a great goal, but it can be problematic if your plan fails to meet the nondiscrimination rules. Adding a Safe Harbor provision can confidently address this issue while providing important benefits to your company and employees. In this episode of Employer Connect, you’ll learn how Safe Harbor contributions work and four benefits of adopting this plan provision.

October 1, 2018

by Petros Koumantaros 401k, safe harbor, nondiscrimination, video, adp, acp, top-heavy Comments

Cash Balance Plans Allow Six Figure Annual Contributions

If you are looking to save even more on taxes and put up to six figures per year into your retirement account, a Cash Balance plan may be the right choice. This episode of Spectrum Employer Connect introduces Cash Balance plans, a retirement plan design that allows significantly higher contribution limits and drives faster asset accumulations than a 401(k).

September 15, 2018

by Petros Koumantaros 401k, cash balance, cbpp, video Comments

Spectrum Employer Connect Video Series

February 2020

SECURE Act

Your World Evolves and Your Retirement Plan Should, Too

Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance

January 2020

It’s Time to Restate Your Defined Benefit Plan Document

Encourage Greater Participation with a QACA Safe Harbor

February 2019

Aligning Plan Design with Your Goals

Advantages of an Unbundled Retirement Plan Solution

Understanding Financial Statement Audits

Maximizing a Business Owner’s Retirement Benefit

Understanding How Forfeitures Work in Your Retirement Plan

The Loan They Never Take May Make All the Difference

Plan Fiduciary Services and Why They Matter

Did You Know You Are a Fiduciary?

When to Set Sail with Safe Harbor

Cash Balance Plans Allow Six Figure Annual Contributions

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