When you hear Roth 401(k), Roth IRA, or just Roth, this is generally referring to a specific type of tax benefit your savings may receive. Let’s take a look at some things to consider when choosing between making traditional or Roth contributions.

Participants may be attracted to self-directed brokerage accounts (SDBAs) because of the seemingly infinite choice of investment options. While it’s tempting to please these often-vocal employees, much consideration should be given when contemplating an SDBA option for your qualified retirement plan. There are several fiduciary issues your committee should discuss, decide, and document.

While regret aversion can motivate us to take positive action, such as starting up a fitness routine to avoid regretting the health consequences of not taking care of ourselves years from now, it’s not a sensible approach to making most investment and retirement planning decisions.

In this age of relying heavily on technology, it is vital to take the necessary cybersecurity precautions. You want to make sure all sensitive information is highly protected. This article showcases some tips and tricks for plan sponsors.

Check if you are prepared for Retirement

Not changing the designation when appropriate may, at the least, subject your intended beneficiaries to the inconvenience and distress of the probate process and likely delay distribution of assets. Identifying and updating participants’ beneficiaries for 401(k) plan assets can ensure a smooth transition of 401(k) assets to the people who need them in their absence.

Retirement plan committees aren’t required by ERISA; however, they can be extremely beneficial nonetheless — especially for larger plans. They can even help in the event a sponsor is sued, as long as the committees are constructed and operated appropriately. Depending on the size of the plan, some organizations split up committee responsibilities into investment oversight, administration, and settlor functions.

While one could say it’s always a good idea to focus on well-being of any type—whether it’s physical, mental, or financial wellness—there’s perhaps never been a more important time to help employees improve their financial literacy, behaviors, and resilience than right now.