December 17, 2024
The Setting Every Community Up for Retirement Enhancement Act 2.0, or SECURE 2.0 became legislation on December 29th 2022 through the larger “Consolidated Appropriations Act of 2023“, the official name for the budget bill of 2023. This long overdue update to the retirement industry has implemented many (over ninety!) changes that will help every day Americans better prepare for retirement....
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December 10, 2024
Top 4 Retirement Savings Options Compared: Help Boost Your Financial Future
As individuals progress through their professional careers, various retirement savings vehicles are available, each offering distinct advantages and suitability depending on an individual’s financial goals, tax considerations, and preferences. There are numerous retirement savings vehicles, but this article will focus on the most commonly used options, including: Additionally, we will discuss how to determine the right retirement savings vehicle that...
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December 3, 2024
Mastering Your 401(k) Fiduciary Duties: A Guide for HR Leaders and Executives
What is a Group Retirement Plan Fiduciary? A group retirement plan fiduciary is an individual or entity that has discretionary authority or control over a retirement plan or its assets. Fiduciaries are legally responsible for acting in the best interest of plan participants and their beneficiaries. They can be personally liable for any breaches of their fiduciary duties. Key Responsibilities...
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November 26, 2024
Complete Guide to Retirement Plans: Pros, Cons, and Best Choices for Small Business Owners
Small Business Guide to Retirement Plans Offering a retirement plan to employees used to be viewed as a great way to incentivize new talent and retain current employees, but this feature has now shifted to a fundamental requirement in order to remain competitive within their industry. This pivotal shift highlights the importance of a retirement plan in attracting, motivating, and...
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November 19, 2024
Solo 401(k) Explained: The Self Employed Retirement Plan for Solo Entreprenuers
What is a Solo 401(k)? Understanding This Self-Employed Retirement Plan A 401(k) Plan is a type of retirement savings plan where participants contribute money from their earned wages into a retirement investment account. In a traditional 401(k), the contribution is taken from the paycheck before taxes are taken out. The account can be invested in the market and will grow...
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November 12, 2024
What is My Company Paying for Group Retirement Fees?
How Do I Find Out What My 401(k) Fees Are? When participating in a group retirement plan, there are two ways service providers can assess their fees: The first step in determining the fees is to determine who is paying them. Is the company paying the fees on behalf of the employees, or are the employees paying the fees? ...
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November 4, 2024
Navigating Market Volatility: How Businesses Can Support Employees in Group Retirement Plans
Market turbulence can significantly impact a company’s retirement plan, creating both hurdles and opportunities. To navigate these choppy waters effectively, it’s essential to maintain a long-term outlook and resist the urge to make impulsive decisions based on temporary market shifts. Many times emotional investing will trigger an individual investor to either try to time the market or focus on protecting...
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October 21, 2024
Boost Your Social Security: The Hidden Payback Option Explained
While retirement might seem like a distant horizon for many of us, understanding Social Security now can set us up for a more secure future. One lesser-known aspect of Social Security is the “payback option” – a strategy that could potentially boost your benefits down the line. What is the Social Security Payback Option? The payback option, sometimes called the...
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October 14, 2024
Pennsylvania’s New Tax Break: Boosting Small Business Support for 529 College Savings
What is the New Pennsylvania Tax Break for Small Businesses? In July 2023, Pennsylvania introduced a new tax break as part of its state budget package, offering significant incentives for small businesses that contribute to their employees’ 529 college savings plans. This initiative aims to encourage employers to offer their employees a valuable tax deduction to help them save for...
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October 7, 2024
10 Tips to Protect Your Retirement Savings from Inflation
Inflation is often called the “silent thief” of retirement savings. It can erode the purchasing power of your money over time, potentially derailing even the most carefully laid retirement plans. But do not worry – there are strategies you can employ to help safeguard your nest egg from the effects of inflation. How Does Inflation Impact My Retirement? Before diving...
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September 30, 2024
Fiduciary Financial Advisors: Help Secure Your Financial Future with Trustworthy Expertise
When it comes to managing your finances and planning for the future, finding the right guidance is crucial. You may have heard the term “fiduciary financial advisor” and wondered what it means, why it matters, and how to find a fiduciary financial advisor near you. Not all financial advisors are the same. Some provide higher levels of service, expertise, and...
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September 17, 2024
401(k) to IRA Rollover Guide: Maximize Your Retirement Savings
401K Rollover to IRA Rules There are two types of rollovers: direct rollovers and indirect rollovers. In a direct rollover, the funds from your 401(k) are transmitted directly to the new retirement plan. There are no withdrawal fees or distributions to the participant, making this the most hands-off rollover method. An indirect rollover is where the funds from your 401(k)...
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September 10, 2024
401(k) Rollover Guide: Best Options for Your Old Retirement
What Are My 401(K) Rollover Options? When an employee leaves their job, they have to decide what to do with their old 401(k) retirement account. There are five common options you can consider that include: When Would I Want to Leave My Old 401(k) with My Former Employer? Leaving your old 401(K) account with your former employer is the easiest...
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September 3, 2024
Navigating 401(k) Loans: What You Need to Know Before Borrowing from Your Retirement
401(K) loans can have a major impact on your retirement savings. Before rushing into one, you should consult with an advisor to determine if there are other alternatives to meet your needs. 401(K) Loan Rules The rules for a loan will vary by plan, as the provisions for a loan are outlined in the summary plan description (SPD) that was...
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August 27, 2024
How Does a 401(K) Loan Work?
When contributing to an employer-sponsored retirement plan, participants typically do not expect to use the funds before retirement. However, in some situations, they may find they do not have any other alternatives. What is a 401(k) Loan? A 401(k) loan is when a 401(k)-plan participant borrows money from their retirement savings account. Since the money is being borrowed from the...
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August 20, 2024
What Happens to a 401(K) When You Quit?
When an employee separates service from an employer with a 401(k), they must determine what to do with the retirement account. With the stress of change, sometimes determining what to do with your group retirement plan falls to the wayside. Adding on top having to figure out the options, it can be easier to try and ignore your account, than...
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August 1, 2024
What Types of CRTs Are There?
There are two major types of Charitable Remainder Trusts: These types of Charitable Remainder Trusts are irrevocable trusts that allow for an individual to grant assets to a charity while receiving annual income for a set period of time or for life. An irrevocable trust means, once the trust is set up, changes cannot be made. When the assets are...
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June 17, 2024
How Business’ Can Engage the Younger Workforce in Retirement Planning
Many companies struggle to get younger employees engaged in their group retirement plans. This can be due to a number of factors, including eligibility requirements, student loan debt, and a lack of financial literacy. But don’t despair! This guide will explore the common barriers young employees face and offer four key methods companies can use to increase participation and empower...
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May 7, 2024
How Much Money Do I Need to Retire?
Understanding how much money you need to retire is one of the biggest questions we get from our clients, and it is one question we find they do not think about soon enough, or often enough. It is a question that lacks a one-size-fits-all answer, as the ideal retirement savings can vary greatly depending on individual circumstances, lifestyle choices, and...
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May 3, 2024
Fix Your 401(k) Plan – Five Most Common IRS Red Flags for 401(K) Plans
TLDR Red flags in a 401(k) plan can trigger an audit or other scrutiny from the Internal Revenue Service (IRS). Below is a brief list of some common red flags that alert the IRS if an audit may be warranted. Use this list to identify 401(k) plan issues and make sure your TPA (third party administrator) can correct the issues...
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Harrisburg, PA Office
Address: 1863 Center St, Camp Hill, Pa 17011
Phone: 717-288-1880
York, PA Office
Address: 3405 Board Rd, Suite 200, York, Pa 17406
Phone: 717-773-4085
