QPA Insights
Welcome to QPA Insights, where we’ll share knowledge and insights into ERISA 3 (38) qualified plans. Here our highly experienced team will write on topics plan sponsors and advisers alike will be interested in such as the regulatory environment, tools, plan management, and more.
Feel free to reach out to us at any time if you have questions about what you’ve read or would like to contact the author.
The Need for Financial Wellness – Especially Now
2020 has taught us a lot. Difficult times have a tendency to do that. We’ve all recognized that there are things we should never take for granted, such as family, friends, co-workers, our jobs and our home. Even mundane tasks like grocery shopping and haircuts have become a dystopian prospect.
Small Business Misconceptions
As a small business owner, you may think starting a retirement plan for your company is out of reach. You may face two main concerns: cost and time. Commonly, those concerns often lead to these misconceptions:
Upcoming Changes that May Impact Retirement Savings
In 2017, tax reform debate included discussion of lowering the amount that workers were able to save in tax-deferred retirement plans to $2,400 from $18,500. Amounts contributed over $2,400, up to the cap, were slated to be taxed as those monies were deposited into the retirement plan with tax free distributions–when made in compliance with the tax code.
Qualified Plan Advisors: January Newsletter
The late-December COVID-19 relief bill (the Consolidated Appropriations Act, 2021 or the “Appropriations Act”) included various retirement plan-related provisions among its 5,500+ pages. A closer look at those provisions reveals that the most significant relief applies to organizations that might otherwise experience a partial plan termination. This month’s article takes a deep dive into that relief and addresses other important nuggets for plan sponsors to consume, including some student loan repayment relief applicable outside of the retirement plan context.
2021 Retirement Plan Limits
When the IRS announced various 2021 retirement plan limits in October, we knew few limits would change for next year. However, as we get closer to January, it’s important to ensure payroll departments and providers are prepared to apply:
Qualified Plan Advisors: December Newsletter
We were a little hesitant to use the term “Post-COVID-19” in the title of this month’s newsletter. It’s not in our past. We’re still in the midst of the pandemic and many data points suggest some tough months ahead. However, we do know that COVID-19 has shifted how most of us think, work, and communicate. As your organization conducts its business planning and strategy meetings relating to 2020, how will your organization adapt its retirement plan strategy? Here’s a gameplan for ensuring you – and your consultant – adapt the approach in 2021.
5 Benefits of Offering Retirement Accounts
Retirement plans are an important element of any employer's benefits package. In a recent Glassdoor survey, 79% of employees said they would prefer new or additional benefits over a pay increase. The survey also revealed that 401(k) plans, retirement plans, and/or...
Open Enrollment
Open Enrollment As we talk to plan participants this fall, it's apparent that they're awash with uncertainty. Throughout the last couple of months - before, during, and after the election - the markets have been trying to tell participants that they shouldn't be as...
Participants Improving Response to Volatility
After an incredibly smooth 2017, the U.S. markets have experienced headline-grabbing volatility early in 2018. Steep market free falls give rise to concerns that participants will exit the market on a dip and fail to re-enter until after the market has recovered. In...
Trending: Increasing Use of Automatic Features
We talk a lot about automatic enrollment and automatic escalation. We also love to study industry data indicating related trends, which helps when our clients ask: "How many employers use automatic enrollment?" Results from a recent Callan survey show that the answer...