Managing a 401(k) program entails orchestrating a symphony of vendors, each playing a crucial role in the plan’s success. However, the complexity of this vendor system often leaves plan sponsors feeling overwhelmed and uncertain about how to navigate it effectively. In this blog post, we’ll explore the key vendors involved …
The S&P 500 finished the first quarter higher by over 10%; its fifth positive quarter in the last six. The S&P is now up 50% since the lows in late 2022, a stunning gain. While not all sectors of the S&P 500 have participated in this massive rally thus far, …
As stewards of your employees’ financial futures through the retirement plan offered as an employee benefit, you recognize the significance of offering impactful retirement options. I’m eager to discuss a valuable strategy for enhancing retirement outcomes within your 401(k) plan: target date funds (TDFs). As a dedicated advisor at BGA …
Chris Cristallo, CFP®, Qualified Retirement Plan Advisor When it comes to your employee’s retirement nest egg, their 401(k) plans play an important role. However, simply offering a 401(k) plan is not enough. To truly maximize the benefits of these retirement savings vehicles, employers must use the power of employee education. …
As we step into the new year, 401(k) plan sponsors are faced with an ever-evolving retirement landscape influenced by economic changes, regulatory updates, and shifting employee expectations. As 401(k) consultants at BGA 401k, my team and I understand the importance of staying ahead of the curve to ensure that your …
They say history tends to repeat itself, and in 2023, it did. Historically, investors that stay invested through severe market downturns are rewarded because prices inevitably rebound, and that’s exactly what happened in 2023. As a quick review, the S&P 500 fell 24% at its lowest in 2022; since then, …
Join us for this episode of Map Your Money as we break down the basics of Roth conversion. Whether you’re new to the concept or looking for a refresher, our hosts Meg Randle and Arish Nurani simplify the process, highlight key benefits, considerations, and steps involved in transforming your retirement …
I believe that in most cases, there are two types of prices: If you don’t do anything and are OK paying the full price, that’s fine, but if you follow these two simple steps savings on everyday purchases can add up. My favorite apps (or internet browser extensions): Step 1: …
Traditional asset classes posted negative returns in the third quarter as higher oil prices, a bump in inflation, and a re-calibration of monetary policy grabbed headlines. The S&P 500 and AGG bond index were both down 3.2% in Q3, while the MSCI Foreign Developed Index declined 4.6%. Returns were challenged …
As a plan sponsor, managing a 401(k) plan is a crucial responsibility. Your decisions and actions can directly impact the retirement savings of your employees. Unfortunately, common mistakes in plan management can hinder the effectiveness of the 401(k) and jeopardize the financial well-being of your workforce. In this blog post, …