Many small business owners want to offer a 401(k) plan to their employees. They understand it can help attract new talent and be a valued employee benefit. They understand that it will help their employees save for retirement. They may even understand that it is one of the best ways to max out their own…
Which retirement plan is best for my church? If you’re like many pastors or church administrators, thinking about your church’s retirement plan is not something you look forward to! While you may not enjoy thinking about it, you probably recognize that offering church employees a retirement plan is beneficial. Providing pastors and other church employees…
Questions to Ask Potential 401(k) Advisors According to a recent survey, 47% of plan sponsors are looking for a new plan advisor[1]. Are you one of them? If you’re actively looking for a new advisor for your plan or even if you’re just looking as part of a regular due diligence process, here are 6…
Faith-based nonprofit organizations form part of the bedrock of communities around the country. The mission-aligned services these organizations provide have a positive impact on the community and those they serve. Churches, crisis pregnancy centers, homeless care and shelter, addiction recovery, foster care, adoption, family and pro-life advocacy, education, healthcare, refugee resettlement…the list of services Christian…
The DC Plan is the Top Benefit for Higher Education Institutions College and university administrators view a defined contribution retirement plan as the most important benefit for attracting and retaining top talent to their organizations. A recent survey released by Voya of higher-ed administrators adds to the growing data from diverse sectors that recognizes the…
3 Assumptions ERISA Makes About Plan Sponsors Many plan sponsors do not understand the full weight of their fiduciary duty towards the employees participating in the company retirement plan. The Employee Retirement Income Security Act of 1974 (ERISA) lays out standards of conduct for plan fiduciaries. Built into the standards are several assumptions the Department…
What if my retirement plan doesn’t offer faith-based funds? The opportunities for Christians to align their investments with their faith values have never been better! Beacon Wealth Consultants has helped Believers with biblically responsible investing for over 25 years and many individuals and families have discovered the joy and freedom that comes with planning and…
Stop Checking Your 401(k) Balance! The ongoing volatility in the stock market and relentless onslaught of negative economic news is raising investor anxiety. If you are feeling worried about your 401(k) performance, let me offer you some advice: stop checking your account balance! Most 401(k) providers allow participants to easily check their account online. But…
3(16), 3(21), or 3(38) Fiduciary – What’s the Difference? When it comes to your company retirement plan, there are several different fiduciaries with which your company can partner. But knowing the differences can be confusing at best and at worse can mean thinking you have reduced your liability when you really haven’t. Each one is…
4 Reasons Your Business Needs a Retirement Plan For most Americans, their company 401(k) is their primary means of saving for retirement. Despite this fact, less than half of all small businesses offer a retirement plan as an employee benefit[i]. There are two sides to this problem – first, employers do not understand all the…