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Understanding Retirement Plan Fees |
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By NADART Administrator on
3/27/2008
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Do you have questions about fees related to your retirement plan? You’re not alone, according to a study by market research firm Chatham Partners. The study, which was recently mentioned in Employee Benefit News, found that while plan sponsors feel fee disclosures are sufficient for now, many want access to more details in order to stay ahead of the curve. While 79 percent of those surveyed recognize the importance of understanding plan-related fees, only 58 percent felt that they did understand them well enough to keep one step ahead of questions from participants.
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Retirement Savings: Think Long Term |
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By NADART Administrator on
3/25/2008
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Despite current economic difficulties (e.g., state of financial markets, rising food and gasoline prices), now is the time to contribute more to your retirement plan, according to a recent article in the Wall Street Journal (WSJ). This strategy allows for more savings to live off during retirement.
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Start a 401(k) Plan and You Maybe Eligible for a Tax Credit |
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By NADART Administrator on
3/21/2008
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Startup costs have always been a major hurdle to small businesses who want to start a 401(k) plan. However, the Economic Growth and Tax Relief and Reconciliation Act (EGTRRA), enacted in 2001, implemented a credit for employers to offset startup costs as well as the cost of educating employees about the new plan.
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Unhappy with Your 401(k) Options? |
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By NADART Administrator on
3/18/2008
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Many employees complain of a lack of good fund options in their 401(k) plans, whether it is their high fees, poor performance or lack of diversification. If your current 401(k) offerings are less than ideal, there are steps you can take to make it better, according to an article in U.S.A.Today.
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Choosing Between the Roth and Traditional 401(k) Plans
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By NADART Administrator on
3/12/2008
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Life is full of options. Sometimes, though, it can be difficult to choose between two options that both offer benefits. Take 401(k) plans, for instance. With a traditional 401(k) plan, a participant’s contributions are tax-deferred and the contributions and earnings are subject to tax upon withdrawal. With a Roth 401(k) plan, the contributions are made on an after-tax basis and the earnings (like the contributions) are not subject to income tax upon withdrawal (when certain conditions are met). How then, does one choose between the two?
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Why 401(k) Loans May Not Be the Best Option |
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By NADART Administrator on
3/11/2008
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Participants should think twice about taking a loan from their 401(k) plans, according to a column by David McPherson on abcnews.com. With the current condition of the economy, many people are turning to 401(k) loans as a place for much needed money. While taking a loan is an option in many participants’ retirement plans, the article cites several things to consider:
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DOL Proposes New Seven Day Deposit Timing Rules for Small Businesses |
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By NADART Administrator on
3/7/2008
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On February 29, 2008, the Department of Labor (DOL) issued proposed regulations with regards to the timely deposit of employee contributions to a company’s retirement plan. Under the regulations, companies with less than 100 participants (as of the beginning of the plan year) will be required to deposit employee contributions to the plan within 7 business days from the date of withholding. Failure to do so would result in late deposit penalties and interest.
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Automatic Enrollment Grows in Popularity |
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By NADART Administrator on
3/4/2008
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More and more companies are now offering automatic enrollment, according to a study by Hewitt Associates, Inc. Forty-four percent of the companies surveyed offer the feature, compared with 36% in 2007. The study also found that for companies that currently do not offer automatic enrollment, 30% said that they would very likely to add it this year, while 27% are likely to do so.
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Small Businesses Face Challenges in Offering Retirement Plans |
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By NADART Administrator on
2/29/2008
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Small businesses often want to offer their employees retirement plan benefits, however many are not able to do so. An article by Martha Hamilton in the Washington Post recently highlighted the challenges facing small business retirement plans and what can be done to combat them.
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