As a practice at BGA 401k, we have worked with many doctors and other medical groups to help them maximize their retirement savings while taking full advantage of tax benefits. One of the most effective strategies we’ve found is the new comparability profit-sharing plan. Often, medical practices already have a …
Q2, 2024 Data sourced from Ycharts and Factset, as of 6/30/2024 Equity returns were strong but concentrated in the second quarter as large gains from Nvidia (+36%), Apple (+24%), and AMZN (+20%), $2-3 trillion market cap companies, skewed index returns higher. The equal-weight S&P 500 was down 2% and the …
A Summer Guide to Protecting Your Retirement Plan As July starts to heat up, many of us are focused on vacations, beach trips, and enjoying the sunny weather. But while you’re soaking up the sun, it’s important not to let your guard down when it comes to protecting your 401(k) …
Bob’s Budget-Savvy Secret Traveling can be an exhilarating experience, but a few insider tips can make it even better. Here are some 5 travel tips to help you save money, avoid hassles, and make the most of your trips. If you love theater, joining the free Playbill Club at playbill.com …
Strategies for Retaining Top Talent in 401(k) Plans As a seasoned 401(k) consultant with BGA 401k, I often find navigating retirement plan management like steering a ship through challenging waters. Particularly challenging is handling IRS compliance, where “corrective distributions” often present hurdles that can disrupt even the most adept plan …
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 …