Secure 2.0 Act Trust Point 1

SECURE 2.0 Act Paves the Way for Big Changes

January 12, 2023, Allyson Krause CRPP™, Managing Director Retirement Plan Services

The SECURE 2.0 Act of 2022 (“SECURE 2.0”) is chock-full of provisions – 92, in fact – aimed at improving Americans’ preparedness for retirement. Like SECURE Act 1.0 (passed December 2019), this latest round of legislation provides workers with greater access to retirement plans and further encourages retirement savings. This.

Retirement Catch Up

How to Play Catch Up

January 10, 2023, Allyson Krause CRPP™, Managing Director Retirement Plan Services

Worried that you’ve fallen behind with your retirement savings? It’s not too late to make up for lost time. Even if you have neglected retirement planning in the past, you can seize the moment and get your retirement savings in play again. Start with an honest assessment of where you.

401k rollover blog 1

Rollovers: The Benefits of Consolidation Within A 401(k)

December 6, 2022, Jon Marquet, Retirement Plan Consultant

The average person will work for twelve different organization throughout their career. If each employer –even if far fewer than the average–offers a 401 (k) plan, then this movement throughout a career can lead to a variety of 401 (k) accounts with a variety of different 401 (k) providers sprinkled.

How much to save

401(k) Decision #1: How Much to Save?

November 28, 2022, Jon Marquet, Retirement Plan Consultant

Employer-based retirement plans provide a powerful mechanism for W-2 employees to reduce their tax liability and save for retirement. But far too often people do not take advantage of this important benefit. The reasons for not participating or under-participating are varied, but many lose out because they imagine using a.

Irs contribution changes 1

2023 Benefit Limit Increases Reflect Inflation in U.S. Economy*

November 17, 2022, Trust Point

In October of 2022, the IRS issued inflation-adjusted retirement savings limitations for 2023 through Notice 2022-55.  Those who follow these annual announcements will note some very significant year-over-year increases from the 2022 amounts, owing chiefly to inflation’s impact on the economic indicators used to make these annual adjustments.  IRA Contribution.

Year End Planning

Planning Opportunities to Consider Before Year-End: Part 1

November 16, 2022, Trust Point

Year-end is fast approaching, with the holidays just around the corner. While the market conditions may be front-and-center on the minds of many, individuals should not overlook year-end planning opportunities which may provide meaningful benefits. Harvest Losses Given the extent to which bonds and stocks have declined this year, tax.

Fiduciary Duty

The UnitedHealth Group 401k Lawsuit: A Reminder To Understand Plan Sponsor Fiduciary Duties

October 14, 2022, Jon Marquet, Retirement Plan Consultant

Overview of fiduciary duties and enforcement of the breach of fiduciary duties Recent headlines concerning the pending lawsuit against UnitedHealth Group for alleged breaches of fiduciary duty in connection with the administration of the UnitedHealth Group 401 (k) Savings Plan1 have many retirement plan sponsors scrambling to better understand their.

Lifetime Income Illustrations

What Does the Sample Annuity Calculation on your 401(k) Statement Really Mean?

September 13, 2022, Jon Marquet, Retirement Plan Consultant

Find out how the new Lifetime Income Illustrations(LII) requirement can help with retirement planning. The SECURE Act of 2019 requires that plan administrators provide plan participants hypothetical illustrations of a participant’s retirement plan account balance if it were annuitized using a Single Life Annuity (SLA) and a Qualified Joint and.

Transitioning to Retirement

Transitioning to Retirement

July 25, 2022, Angela Strangman

Exploring the journey through the eyes of a Trust Point client Mary Kessens is spending her early days of retirement in a chrysalis. That’s how she refers to this temporary period of incubation following her departure from the workforce in January. It’s a time to get a feel for that.

Overcoming the Great Resignation

Overcoming the Great Resignation

July 19, 2022, Allyson Krause CRPP™, Managing Director Retirement Plan Services

Using Your Company’s 401(K) to Help Attract and Retain Employees The last two years have brought many changes to our way of life, perhaps none more noticeable than the way we work. Businesses across most industries adjusted to different ways of operating to ensure the safety of both staff and.

Roth Conversion

The Roth Conversion

July 15, 2022, Duke Cunningham CFP®, Vice President Business Development

Three reasons why a Roth conversion is an important part of your retirement strategy There are many strategies to consider when planning for retirement. Everyone’s blueprint may look a little different, but a Roth conversion could be an important component. A Roth conversion is simply converting funds in a pre-tax.