Tracking Down Your Missing Participants
November 1, 2020
If you have terminated participants with balances in your 401(k) plan, some of whom you can’t locate, you’re not alone; missing participants are an industry-wide problem. What is a missing participant? A missing participant is a former employee who has left funds in a qualified retirement plan (ex. 401(k) plan) at their former employer but […]
Northeast Benefit Services Inc.
Staying the Course Through Volatile Markets
October 1, 2020
Turbulent times can bring turbulent markets. Many factors cause chaotic swings in the investing world including housing bubbles, political elections, international instability, and as we have seen recently, a global health pandemic. Despite the financial queasiness this can have, experts consistently have one piece of advice for investors: stay calm and stay the course. Maintaining […]
Northeast Benefit Services Inc.
4 Qualified Plan Tax Advantages for Employers
September 1, 2020
By choosing to offer your employees a 401(k) plan, you’re sending a powerful message — that you’re invested in their future and committed to helping them work towards financial security in their retirement. As a business owner, you can also benefit from setting up a retirement savings plan. Not only does it provide you with […]
Northeast Benefit Services Inc.
Pros and Cons of Taking Coronavirus-Related Distributions from Retirement Savings
August 1, 2020
The COVID-19 pandemic has undoubtedly shaken our economy to the core. Many businesses have struggled to keep their doors open which has caused unemployment claims to soar. Record unemployment, coupled with a U.S. society that has an average household savings account of about $8,800[1], has many people looking to their retirement savings as a “piggy […]
Northeast Benefit Services Inc.
5 Ways Total Rewards Can Help Recruit Top Talent
July 1, 2020
A good total rewards program helps you attract and retain the best possible talent for your organization. Add a great workplace culture and environment and you could be on your way to becoming an employer of choice among job-seekers. What is a total rewards program? A total rewards program is adopted by a company that […]
Northeast Benefit Services Inc.
5 Steps to Create a Financial Wellness Program
June 1, 2020
In today’s economy, Americans are worried about their finances, and it spills over into every aspect of their lives, even their work. Let’s look at this for a minute and you’ll see why having a financial wellness program for your employees is a good thing. Why Have a Financial Wellness Program for Your Employees? A […]
Northeast Benefit Services Inc.
The Link Between Employee Productivity, Health, and Financial Stress
May 1, 2020
If you think financial wellness programs are a fad, think again. The industry consensus is that financial wellness not only produces results for employees, but it positively influences company bottom lines. That’s good news for a number of reasons, especially for the juggernaut of financial stress in the workplace. A recent study found that nearly […]
Northeast Benefit Services Inc.
Four Ways to Help Reduce Financial Stress for Your Employees
April 1, 2020
Employee financial stress is a hot topic. So much so, that nearly 60% of employees cite finances as their primary stressor. [1] Their financial worries surpass other top stressors, and it’s impacting their job performance. Research shows financially stressed employees are less productive and more distracted at work. They also have higher rates of absenteeism […]
Northeast Benefit Services Inc.
Managing Risk: Do’s and Don’ts for Your Company’s Retirement Plan Committee
March 1, 2020
Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans. Adding to this, a survey found that 43% of company fiduciaries don’t actually think […]
Northeast Benefit Services Inc.
10 Steps to Help You Handle a DOL Investigation
February 1, 2020
Hot breath, fear, sweaty palms – You’ve received a request from the Department of Labor (“DOL”) to provide documents about your retirement plan. You are being investigated. Your first thought may be, how did this happen? Why does the DOL care about my company’s retirement plan? Whether it was a complaint from a plan participant, […]
Northeast Benefit Services Inc.
Thinking About Changing 401(k) Providers? Five Things You Should Know
January 1, 2020
Offering a competitive benefits package, including a top-notch 401(k) plan, is essential for your company to recruit and retain top talent. Today’s workers highly value employer-sponsored retirement plans: 88% of them say that an employee-funded retirement plan is important to them.[1] In addition, eight out of ten new hire candidates consider retirement savings programs offered […]
Northeast Benefit Services Inc.
*BREAKING NEWS* SECURE Act and What 401(k) Plan Sponsors Need to Know
December 1, 2019
On 23 December, one of the largest changing legislative acts to impact America’s retirement system was signed into effect. The Setting Every Community Up for Retirement Enhancement Act – or SECURE Act – has many updates and modifications that seek to enhance retirement security activities. The Act strives to address challenges that small business owners […]
Northeast Benefit Services Inc.
