Commonwealth Independent Advisor

The Value of Benchmarking a Retirement Plan

Posted by Steve Johnian

August 28, 2019 at 1:30 PM

Although benchmarking a retirement plan is not mandated, there are key reasons why this best practice is important. ERISA requires plan fiduciaries to ensure that expenses are reasonable, so plan sponsors must monitor expenses to keep them in check and to ensure that the services provided are carried out effectively.

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Topics: Retirement Consulting

The Benefits of Managed 401(k) Accounts: Are They Real?

Posted by Michael Geraci, CRPC®, AIF®, CIMA®, QKA

August 27, 2019 at 10:00 AM

The participant experience in qualified retirement plans has come a long way since investors were asked to create their own portfolio from a simple list of standard funds. A better experience began to emerge as plan participants were offered a “prepackaged” choice of target-date funds (TDFs), which have become increasingly popular. Today, a new trend is taking shape, as many plan sponsors are now considering whether the benefits of managed 401(k) accounts make them worth adding to their lineup.  

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Topics: Retirement Consulting, Asset Management & Investing

What You Need to Know About Retirement Plan Auto Features

Posted by Derenig Kostikian

July 10, 2019 at 1:30 PM

Today’s workforce relies primarily on defined contribution plans as a means for saving for retirement. Although employee contribution rates and account balances are up, participants tend to defer only enough to receive their company match—and that might not be a high enough savings rate to meet their retirement income goals.

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Topics: Retirement Consulting

Going Roth: Strategies to Maximize Savings for 401(k) Clients

Posted by Allen Cohen

June 26, 2019 at 1:30 PM

Roth 401(k)s have only recently gained traction with plan sponsors, despite the fact that both the Roth IRA and the 401(k) plan have been around for decades. As of 2018, according to the Callan Institute Defined Contribution Trends Survey, 85 percent of 401(k) plans now have a Roth option, up from 68 percent in 2016.

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Topics: Retirement Consulting

Outside the Box: Alternative Retirement Savings Options

Posted by Michael Clifford

June 25, 2019 at 10:00 AM

As of March 2018, only 51 percent of working Americans in the private sector had access to a defined contribution retirement plan (i.e., a 401(k) plan), according to the Bureau of Labor Statistics. In establishments with fewer than 100 employees, that number was just 46 percent. That’s a large percentage of the population without access to traditional retirement savings options. With studies suggesting that Americans currently have a savings deficit and today’s employees less likely to stay with one company for their entire career, it’s imperative as an advisor to ensure that clients have a backup plan so they continue to save on a regular basis. To start, you need to understand your clients’ individual situations, and your clients need to be aware of alternative methods to save for retirement.

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Topics: Retirement Consulting

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