7 Questions to Help Optimize Your 401(k) Plan
July 22, 2024
Let’s explore some of the critical elements of workplace retirement plans. Our goal is to equip you with the knowledge you need to evaluate your current 401(k) plan with clarity and confidence, helping you make the best choices for your business and employees. We’ll guide you through pro tips for identifying a healthy plan, discuss […]
larry
Exploring In-Plan Retirement Income Solutions
July 8, 2024
To help prevent potential retirement delays, consider retirement income solutions to boost participants’ confidence in their future financial security. Both employers and employees have a growing interest in in-plan retirement income solutions. With 66% of participants concerned about creating an income stream in retirement, this shows a signification interest in retirement planning tools that can […]
larry
Plan Sponsor Newsletter: Employee Engagement Edition
June 17, 2024
As we continue to navigate an evolving workforce landscape, it’s becoming increasingly evident that employees at different career stages have distinct needs when it comes to retirement planning and benefits. Understanding and addressing these diverse needs is crucial to foster employee satisfaction, retention, and overall financial wellness. To effectively meet these diverse needs, it’s wise […]
larry
Boosting Retirement Confidence for Near-Retirees
May 13, 2024
Employees late in their careers need information that helps smooth the transition into retirement We are entering the “Great Retirement” era, where tens of thousands are hitting retirement age daily. By 2030, the entire baby boomer generation will be 65 or older. These hard working and resilient employees were the first to experience the shift […]
larry
Employee Newsletter: Financial Health Edition
May 6, 2024
As a plan sponsor, employees want you to support their financial well-being. Achieving financial health takes time and commitment, here are three tips to help your employees stay focused: Just as physical health requires commitment, good habits, and professional guidance, achieving financial health needs time, persistence, and small yet powerful changes. By empowering your employees […]
larry
401(k) Plan Design for an Age Diverse Workforce
April 22, 2024
Discover insights into 401(k) plan design for a multigenerational workforce. Find out ways to boost retirement readiness and deal with issues unique to each generation. Understand the best methods of retirement saving from Baby Boomers to Gen Z. Larry Kavanaugh, Jr. AIF®, CPFA, CLU, ChFC 950-A Union Rd. Suite 31 West Seneca, NY 14224 716.674.7200 […]
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Overcoming Mid-Career Retirement Savings Hurdles
April 15, 2024
Practical tips for Gen X and Millennial workers to save for retirement Life in the middle can be a pickle—just ask any mid-career employee. They’re often caught between a rock and a hard place, or, more accurately, a kid’s college fund and an aging parent’s medical bills. Add to that the rising cost of living, […]
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Helping Early-Career Employees Navigate the Saving Maze
April 2, 2024
Ways to boost financial confidence and loyalty for Gen Z employees Have you ever found yourself pondering the classic “If only I could rewind the clock and share some pearls of wisdom with my younger self” scenario? As an employer, you have the chance to share this knowledge with your employees, especially when it comes […]
larry
Plan Sponsor Newsletter: Fiduciary Plan Governance Q1 2024
March 25, 2024
As a responsible plan sponsor, it is crucial to ensure that you are fulfilling your fiduciary governance duty and maintaining proper plan governance. In this newsletter, we will discuss organizing fiduciary files and benchmarking your retirement plan to help you enhance your fiduciary plan governance. Plus, we explore how profit sharing can help reduce your […]
larry
Plan Sponsor Guide: Cybersecurity Checklist
March 4, 2024
It is more important than ever to prioritize the cybersecurity of your company’s 401(k) plan. The Department of Labor (DOL) has recognized this urgency and has issued recommendations to help employers safeguard their plans. For plan fiduciaries, there are many ways you can apply these best practices to effectively manage your company’s retirement plan. Read […]
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Is It Time to Benchmark Your Company’s Retirement Plan?
February 26, 2024
While your 401(k) plan may not have a chirping reminder, regular reviews, fee benchmarking, and a prudent process are key. Just as we routinely replace the batteries in our smoke detectors, it’s equally crucial to give your company’s 401(k) plan the attention it deserves. Often, retirement plans are treated like a smoke detector with fading […]
larry
Employee Education: Mastering the Art of Savings Buckets
February 12, 2024
Savings buckets involves dividing money into separate accounts (buckets) each with a specific purpose. Rather than blindly putting money to the side, this gives employees a more organized system of saving and spending. If you want to help your employees in their financial journey, giving them resources on saving best practices is a good place […]
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