Healy Jones - ForUsAll 401k Blog

Change Retirement in America

Retirement in America is underfunded by $6 trillion – and the existing financial service providers aren’t doing enough to fix it. Although they are collecting an EXTRA $17 billion a year in fees. Ready to do something about it? ForUsAll is a Series B funded fintech startup helping small and

Small Business 401(k)

Better 401(k)s For Law Firms: How Lawyers Can Optimize Their 401(k)

Attorneys may not think of themselves as running a small business, but even law firms with 50 or 100 attorneys and support staff have much in common with small business when it comes to offering a 401(k) plan. Law firms, like other small and mid-sized businesses, are often charged

401k Administration

401(k) Plan Reviews: Has Your 401(k) Had Its Annual Check-Up?

At least once each year retirement plan sponsors should meet with their 401(k) plan investment advisor and review the plan’s health. In these 401(k) reviews, the advisor typically goes over investment performance and discusses any proposed changes to the fund line-up. In addition to a review of

401(k) Participation

401(k) Enrollment: How To Get More Employees Saving

More 401(k) plan sponsors are trying new ways to motivate employees to enroll in the company’s 401(k) and save for retirement. According to Deloitte’s recent defined contribution survey, plan sponsors are increasing communications, while beefing up education and financial wellness tools. Per the Deloitte 401(k)

401(k) Participation

Use 401(k) features to nudge employees toward a successful retirement

Retirement savers can give a well-deserved round of applause to Richard Thaler. The University of Chicago professor was recently awarded the Nobel Prize in Economics for his insights into the emerging field of behavioral economics. Thaler’s career has been so successful that some economists no longer believe humans are

401k Administration

Adding A Self-Directed Brokerage Window To Your 401(k)

Is a brokerage window, also known as a self-directed option or account, a smart option for your company’s 401(k) plan? These days, there are some conflicting trends circulating in the 401(k) marketplace. On the one hand, academics have found that too many 401(k) investment options can

401k Administration

The DoL 401(k) Audit: How to Reduce Your Odds (Just In Case)

A Department of Labor audit of your company’s 401(k) plan can be a time-consuming, not to mention, an expensive proposition. How expensive? In 2013 the DOL’s imposed fines reached an average $600,000 per plan. By 2016, the Department of Labor’s recoveries amounted to over $777

Small Business 401(k)

Most Americans are Unprepared for Retirement

A 401(k) can help Americans are a confident bunch. In fact, 65% of 46-65 year-olds say they are “somewhat” or “very” confident they will have enough money in retirement. That’s according to an Ipsos/USA TODAY survey of 1,250 adults in that age group. Some of those

403(b)

Four Reasons To Hire A 403(b) Advisor For Your Plan

If your non-profit organization is offering employees a 403(b) plan, then your team has an important savings tool at their disposal. Keeping a retirement plan like a 403(b) running smoothly can be a lot of work, and many non-profits turn to a 403(b) advisor for help. It’

401k Administration

Why You Should Avoid High-Cost Funds In Your 401(k) Fund Lineup

If your 401(k) plan is filled with high-cost funds there may be reason. Perhaps your 401(k) adviser explained to you that actively managed funds run by high profile mutual fund companies will outperform cheap passive funds over long periods. Maybe the adviser explained that professional active management may

Human Resources

Why your participants should avoid active trading of 401(k) investments

Passive investments, including target date funds can keep 401(k) participants on track Research shows that the average equity fund investor earns below average returns. How can study after study show that the average investor earns below average returns? Perhaps it’s best to present the results obtained by Dalbar,

401(k) Providers

What vendors are required to offer a 401(k) plan?

It all sounds so simple. Every payday you and your employees divert a portion of your paycheck into their 401(k) account. Then, invest. Repeat each payday. But it takes a surprising number of players to get the money from point A to point B. First, 401(k) rules are

401k Administration

Administrative Risks in Your 401(k)

10 common 401(k) administrative mistakes to watch out for A 401(k) a plan is a wonderful way for you and your employees to accumulate retirement assets. But managing a 401(k) is also administratively complicated and chock full of moving parts. If you or your staff is charged

Retirement Plan Evaluation

What Are The Best 401(k) Funds For Your Plan?

When your business offers a 401(k), one of your biggest decisions will be determining what the best investment options are for your employees. You may have an investment policy statement that provides guidance in this regard. If so, it should provide policies and considerations that help you select your

401(k) Plan Documents

401(k) Investment Policy Statements

Does your 401(k) plan have an investment policy statement (“IPS”)? According to Callan consultants, some 90% of defined contribution plans maintain an IPS. Historically, however, larger plans are more are far more likely to develop the document than smaller retirement plans. But not every plan that has an IPS

Human Resources

Five Signs That Your Business Is Outgrowing Its Retirement Plan

Congratulations! Thanks to your company’s retirement plan, you and your employees are accumulating tax deferred savings and increasing the odds of a successful retirement for all of you. But do you have the nagging suspicion that your company may have outgrown the plan you established three, five, or ten

Small Business 401(k)

Small businesses are doing big things in the U.S. economy

The mom and pop shop around the corner may be small, but together with the rest of the small businesses around the country they are a big deal. A small business is defined by the Small Business Administration (SBA) as an independent firm with fewer than 500 employees. Well, there

401(k) Providers

4 Reasons to Hire an Advisor for Your 401(k) Plan

If your small business’s 401(k) is already up and running, you deserve a hearty congratulations. You may have put the plan in place all by yourself and are running the plan solo, without an advisor. According to the Retirement Advisor Council, many small businesses are managing their own

401(k) Participation

Helping Employees Understand Their 401(k)

If your company already offers a 401(k) plan, then you know it’s a great way for you and your employees to invest for retirement. What you may not know is that 43% of young millennials don’t know what a 401(k) is. That’s according to a

Retirement Plan Evaluation

5 Questions to Ask When Upgrading Your Company’s 401(k)

So you are considering upgrading your small businesses’ 401(k). Good thinking! You and your employees will be able to sock away retirement savings and watch the returns accumulate tax-free. If it’s been awhile since you set up your retirement plan, we suspect much of this 401(k) stuff

401(k) Participation

How to focus on participation and savings in your company’s 401(k)

So you want your retirement plan to be successful… That means you want your employees to join the company 401(k), and you want them to divert a meaningful portion of their paychecks toward the plan. And all along the way you’d like to make sure your plan passes

401(k) Providers

Should you get your 401(k) from your payroll provider?

If you are thinking about offering a 401(k), you may think it makes perfect sense to hire your payroll provider to recordkeep and administer the plan. After all, you want to sock away funds for tax deferred investing and you want the same for your employees. But you are

401k Administration

401(k) Leakage

A good advisor can help plug 401(k) leaks A 401(k) is a great way for you and your employees to stay on the road to a successful retirement. In fact, a hefty retirement savings is essential in an era where few families can rely on a traditional pension

401k Administration

Active vs. Passive Asset Management in 401(k) Accounts

@media screen and (max-width: 450px){ table { font-size: 9px; }} Can portfolio managers add value through active security selection? Recent research suggests no, active management is unlikely to produce returns that beat passive index investing. In particular, this paper looked at the composition of target date funds that would be hypothetically used

ForUsAll

401(k) fun facts

One of our clients recently asked us for some “fun facts” about the 401(k) that he could share in his company’s employee newsletter. We thought that was such a fun exercise that we are sharing some of these facts here! The following is not intended to represent any