Ben Werdmuller - ForUsAll 401k Blog

Why We Built the CARES Act 401(k) Calculator and Virtual Advisor

ForUsAll was founded to help everyone build a brighter financial future. That has always meant providing more accessible retirement benefits far away from the Fortune 500. Participants in our 401(k) retirement plans are the backbone of America: people who work for smaller businesses, doing regular jobs. These are the

401(k) Basics

What Is A 401(a) Plan?

Among the alphabet soup that describes the defined contribution world, 401(a) plans are among the lesser known. The 401(a) primarily covers government employees, including those employed by schools and universities. While it could serve as an employer’s sole retirement plan, the 401(a) is often offered along

Non 401k Retirement Plans

457(b) vs. 401(k): What are the key differences?

If you have narrowed your answer down to a) a passenger jet or b) a type of retirement plan, congratulations! A 457(b) is a retirement plan offered by a state or local government entity, or a non-profit organization. These plans are much less common than the familiar 401(k)

401k Administration

401(k) Hardship Withdrawal: What's Your Plan's Policy?

Plans sponsors have a lot of options when designing the company’s 401(k) plan. Among the choices an employer can make is whether or not to allow hardship withdrawals. A hardship withdrawal is a distribution taken by a participant before age 59 ½ due to a financial emergency. 401(k)

401k Administration

How to Maximize 401(k) Contributions for Key Employees

So your business is humming along and you’d like to maximize retirement benefits and 401(k) savings for your top performers. And, if your company can boost business deductions along the way, you’ve got a win/win on your hands. But how should contributions to retirement accounts be

401k Administration

How to Think About Your 401(k) Vesting Schedule

When it comes to running the company 401(k), there are a lot of trade-offs to consider. For example, you want to offer employees ample investment options so that they can construct a diversified portfolio that suits their risk profile, yet too many investment options can overwhelm employees and paralyze

401k Administration

401(k) Loan Policy Best Practices

To start, here’s a bit of general background on 401(k) loans policy: Despite the fact that adopting a liberal 401(k) loan policy can add administrative burden, the majority of plan sponsors do. According to the Employee Benefits Research Institute, virtually all (around 90%) of larger plans–those

401(k) Plan Documents

The Quick-Start Guide to 401k Plan Documents and Records

Whether you’re staring down the barrel of a 401(k) audit or just being proactive, knowing the details on your 401(k) plan documents (and keeping them organized) can save you a lot of pain. We’re here to help with that. Here’s a breakdown of your key

401(k) Participation

How Employee Financial Wellness Impacts Performance

If your small business offers a 401(k), give yourself a pat on the back. You are building a retirement nest egg and providing your employees the chance to do the same. But some employees may be reluctant to sock money away for years because they are concerned about their

Small Business 401(k)

401(k)s for Engineering Firms: Structuring A Better Retirement Plan

Meeting your engineering firm’s project deadlines is critical to your business. But your 401(k) also faces a deadline — the deadline for each employee to accumulate a sufficient nest egg by the time they are ready to retire. Of course your firm’s 401(k) is even more than

Nondiscrimination Testing

401(k) ADP Test: Why Your Employees’ Actual Deferral Percentage Matters

Offering a 401(k) means complying with IRS and ERISA rules, and one of the cornerstones of compliance is making sure that 401(k) benefits are spread widely among employees, not primarily benefiting the highest paid. In other words, 401(k) rules require that plans do not discriminate in favor

401(k) Compliance

401(k) Regulations: 8 Common Regulatory Hurdles

If you are thinking about including a 401(k) plan among your small business’s employee benefits – or have inherited the management of one – congratulations! A 401(k) is a great way for you and your employees to build a nest egg for retirement. But you should know going in

401(k) Basics

What is an ERISA Fidelity Bond?

If your small business offers a 401(k) plan, then you are already well on your way to learning a new language – the language of 401(k)s. Your vocabulary may already include phrases like “participation rate,” “Form 5500,” and “top-heavy.” Or maybe even “hardship distribution,” “key employee,” and “safe

401(k) Compliance

IRS 401k Fix-It Guide: A Primer On How to Fix Your 401(k)

Have you ever discovered an error in your small business 401(k)? If so, then you probably remember that same sudden feeling of panic as when you’ve misplaced your smartphone, or discovered your flight leaves an hour earlier than anticipated. Except amplified, as you speculate the impact on your

401k Administration

401(k) Investment Options: 10 Tips for a Winning 401(k) Fund Lineup

There are a lot of moving parts to your company’s retirement plan. From getting employees enrolled to making distributions in a timely manner, to keeping up with ERISA regulations, there is much to do in the world of defined contribution plan administration. But the real reason for running a

401(k) Providers

Should Your Private Wealth Manager Run Your Company’s 401(k)?

Business owners often hire their personal wealth manager to manage their firm's retirement plan. Here's what to consider before making the same mistake.

403(b)

401(k) and 403(b) Education: How to Set Up Employees for Success

When it comes to educating participants, plan sponsors running ERISA retirement plans must, at a minimum, notify employees annually that they have the right to participate in the plan, or to make changes. But there is a lot more plan sponsors should do to help employees save for retirement besides

401k Administration

401(k) ESG Investing: How Responsible Are Your Funds?

If you think you’re hearing more about ESG and sustainable investing, you’re right. Assets are growing in mutual funds and ETFs that seek out companies exhibiting the values shared by their investors. According to the Forum for Sustainable and Responsible Investment, assets categorized as sustainable, responsible and impact

401(k) Providers

Pros and Cons: What is a Professional Employer Organization (PEO)?

As you focus on growing your small business you may have considered working with a Professional Employer Organization, or PEO. Or you may have already outsourced some tasks to such a group. A PEO is an outside business that handles employee management tasks like payroll and insurance benefits. A PEO

403(b)

Average 403(b) Fees: How Do Yours Compare?

Here’s some good news: it is costing non-profit organizations less to operate their 403(b) plans. That’s the conclusion of the 2016 BrightScope/ICI survey that examined ERISA plan data between 2009 and 2013. Average total plan costs fell to 0.73% of assets in 2013 (the latest

403(b)

How to Automate 403(b) Administration

If your organization offers a non-profit retirement plan then your employees are equipped with a great way to save for retirement. But that can also mean some heavy duty administration for your organization. For example, if you offer an ERISA plan you will need to file the information-heavy IRS Form

403(b)

What are the best funds for your 403(b) plan?

If your non-profit offers a 403(b) retirement plan, one of your greatest responsibilities is choosing the right investment options. Your employees are relying on you to make good fund choices for the 403(b) – but how do you do that? How an investment policy statement can help you choose

Small Business 401(k)

Five Ways To Optimize Your Small Business Retirement Plan

When you are running your small business, no two days are the same. But do you have the time and the staff to keep up with the evolving 401(k) market as well? Regulatory changes are presenting new risks for sponsors of retirement plans at small and mid-sized businesses. And

401(k) Fiduciary Requirements

What Does a 401(k) Advisor Do?

So you are managing your company’s 401(k) all by yourself? On the one hand, a 401(k) is a great way for you and your employees to steer a significant portion of earnings each year into tax deferred savings. But sponsoring a retirement plan can be time-consuming and

403(b)

Nonprofit Retirement Plans: An Overview of 403(b) Options

A 403(b) retirement plan is often described as a “401(k) for nonprofits.” The two defined contribution plans are certainly similar, but there are important differences between them. The 403(b) actually predates the 401(k) by several decades. The 403(b) was introduced in 1958 as a supplemental