As a business owner, you know just how important debt management, credit card responsibility, and emergency funds are to a stable financial future, and at the same time, you’re likely aware of how difficult it is for many people to establish a plan to make this their reality. This episode focuses on this important issue and introduces ways you can help your employees find financial wellness – enabling new opportunities to save for retirement. When those on the sidelines get in the game, we all win. Talk to us about how we can create effective programs to help your employees and communicate more effectively about their financial health and how to get there. Learn more: https://tpsgroup.com

You may not recognize that, as a sponsor of a qualified retirement plan, you have a very important fiduciary role based on your control and authority over the administration of your plan . In your capacity as fiduciary to your plan, you have a variety of specific responsibilities you must manage– or –outsource to a professional, qualified third party. A 3(16) fiduciary service is the mechanism where you, as plan sponsor, can outsource some, or all, of your administrative fiduciary responsibilities. This video highlights these administrative fiduciary responsibilities and your options to manage or delegate this role to a 3(16) fiduciary service provider. We invite you to watch the video and review the accompanying Action Doc. Then, talk to us to learn more about your fiduciary outsourcing options and let us guide you to a solution you can rely on and that will free you to focus more on your business. Learn more at https://tpsgroup.com

A generic or turn-key, “low-cost” retirement plan might be compelling. But a plan that is a poor fit with your goals or employee demographics can end up becoming very costly in the long run due to lost tax or retirement savings since they’re not optimized to your particular situation. We prefer to take a very different approach. We focus on aligning your retirement plan design to your specific situation. By determining the plan design that’s the right fit, you’ll be well positioned to take full advantage of the special savings and tax treatments afforded qualified retirement plans. Take a couple of minutes to watch this month’s Employer Connect video to refresh yourself on the broad retirement plan design options available. Then, let’s work together to make sure you’re getting what you need and expect out of your retirement plan.

A compelling feature of a 401(k) plan has always been the opportunity to contribute money from your current income on a pre-tax basis today - let it work for you over the years - and then pay taxes on the accumulated balance as you withdraw it in future. That's a real attraction to many company owners and their employees. But what if you flipped this - and contributed money to your retirement savings account with post-tax dollars that you invested over time and then had the opportunity to withdraw the accumulated balance tax-free - including the earnings. That's what happens in a Roth account. Just like the original Roth IRA, the Roth 401(k) account has the specific advantage of growing tax-free, but the 401(k) version doesn't have the associated income limits. Read more at: https://tpsgroup.com/articles/to-roth-or-not-to-roth

Many company owners actively seek to maximize their 401(k) contributions each year. That’s a great goal, but it can be problematic if your plan fails to meet the nondiscrimination rules. Adding a Safe Harbor provision can confidently address this issue while providing important benefits to your company and employees. In this video, you’ll learn how Safe Harbor contributions work and four benefits of adopting this plan provision. Give us a call if you’d like to learn more about how Safe Harbor contributions can help make your plan more successful. Learn more at: http://tpsgroup.com

Buying “off the rack” can be cost effective, but often limits choice and certainly flexibility. And we all know that a custom approach will typically offer the best fit. This analogy accurately describes the difference between a “bundled” 401(k) solution from a single provider and an “unbundled” solution delivered by multiple expert specialists. While there circumstances where both approaches offer distinct advantages, we tend to believe our unbundled approach can provide you with the best combination of features, flexibility, and fit and creates compelling advantages for you and your employees in the long run.