Small Business 401k Archive

401k Fees are a mystery to many employees

For Many Employees, 401(k) Fees Are A Mystery

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A recent government study finds that nearly four in 10 Americans don’t understand the fees they pay for their retirement plan at work. A national survey conducted by my firm, Rebalance, found even worse news: Even more Americans — nearly half — think they pay no fees for their 401(k). It’s vitally important for employers to… Continue reading

 
What Most 401(k) Plans Are Missing To Make Employees More Confident

What Most 401(k) Plans Are Missing To Make Employees More Confident

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Are your employees happy with their retirement plan? They probably aren’t but can’t put a finger on why. A recent study by DALBAR may have found the answer: Employees don’t know when they can retire. Having a financial advisor and a solid financial plan can greatly increase employee satisfaction with a retirement plan. That is… Continue reading

 
Plansponsor - Rebalance Hires Retirement Services Director

Retirement Industry People Moves: Rebalance Hires Retirement Services Director

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Wealth management firm Rebalance has added Nicole Cervi-McKeever as director of retirement services. In the role, Cervi-McKeever works directly with Rebalance’s Better K small business 401(k) clients and is responsible for the entire 401(k) client lifecycle, serving as the daily  point of contact for all Better K clients. “Over the past year, our Better K… Continue reading

 
modern-401k

Can You Afford to Not Offer a Competitive, Modern 401(k) Plan?

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American savings for retirement marches on — at least for those who have 401(k) plans at work. Fidelity Investments reports retirement plan balances on average hit a new all-time high. The 401(k) balance is 24% higher than a year ago, at $129,300. Similarly, balances in individual retirement accounts were up 21% to $134,900. Offering a… Continue reading

 
New 401k Provider

5 Reasons to Consider a Modern 401(k) Provider

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All 401(k) services are not created equal. You may have had a plan in place for years and never questioned the fees and exactly what roles and responsibilities you might have toward employees. It’s time to dig in and ask those questions. Read this brief guide to learn five reasons to consider a new, more… Continue reading

 

Business Owners Demand Better 401(k) Advice: Survey

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More than one-third of small business owners look to change their 401(k) plan advisor, a new survey has found — more than twice the number in 2020. Business owners seek better employee communication, lower fees, solid investment insights and higher quality investment choices, as 401(k) Specialist reports in the article below. Guidance is a crucial… Continue reading

 

Defusing the Unseen Risk Many 401(k) Participants Take With Their Retirements

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The rising popularity of target-date funds in 401(k) plans could be seen as a sign of progress. People seem to know that they need help picking the right combination of investments. Increasing numbers of them opt for target-date funds, which are designed to adjust the ratio of stocks to bonds over time, steadily reducing risk.… Continue reading

 
President Joe Biden signing executive orders

Change the 401(k) Tax Break? Why Keeping Tabs on Washington Matters

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Is your 401(k) plan ready for big changes? They could be coming. The Biden administration reportedly seeks a raft of adjustments to the longstanding private American retirement system. Some of these changes could be dramatic, such as getting rid of the deductibility of employee plan contributions. Replacing that would be a tax credit, as Rodney… Continue reading

 

Is Your 401(k) Truly Competitive? Benchmark To Find Out

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Assets in the top 401(k) plans exceeded $1 trillion in the past year and participation rates stayed steady at 81 percent, according to a new report from retirement industry tracker Judy Diamond. Finance, tax and insurance providers led the list in terms of average balances, participation and other major benchmarks. Healthcare providers such as physicians… Continue reading