For Plan Sponsors
Simplify Your Life with Online Enrollment
At Trust Point, we strive to provide exceptional service and innovative retirement plan solutions. As such, we are excited to announce our transition to online enrollment. Industry-wide, online enrollment is becoming standard—and for good reason. As benefit regulations become increasingly complex, employers have less time to devote to plan administration. Online enrollment can help to reduce that administrative burden.
Our online enrollment platform offers a centralized source of information for both employers and plan participants. Participants will be able to communicate their investment, contribution, beneficiary, and personal information changes directly to Trust Point through the secure website. These changes are made immediately and tracked effectively in our recordkeeping system, effectively reducing the intermediary role of the employer.
Your relationship manager will contact you to discuss how online enrollment can benefit your organization and explain the process of introducing the online platform to employees.
Annual Education Helps Increase Participation
“The number one problem in today’s generation and economy is the lack of financial literacy,” says Alan Greenspan. In fact, 46% of Americans have saved less than $10,000 toward their retirement.* Most people are so overwhelmed with the financial terminology, investment options, graphs, and charts, they simply don’t bother learning more or investing. Trust Point encourages Plan Participants to take an active role in their future retirement planning. We are committed to offering annual 401(k) Participant Education that is timely and relevant—both in a group setting and through one-on-one sessions. According to a Gallup Poll, 71% of investors said one-on-one meetings with 401(k) educators are “highly effective.” Schedule your 401(k) education today to help your employees start maximizing their retirement savings potential. Call 800.658.9474.
* Employment Benefit Research Institute
For Plan Sponsors and Participants
Designed to be copied and pasted into Employee Communication
Investing 101: Don’t Exit the Ride Early
Whether or not you’re a thrill seeker who enjoys a good roller coaster ride, when the ride involves your investment dollars it might not be as thrilling when your dollars take a dip. Investing, as with most things in life, involves risk. Sometimes, the ups and downs of the market mimic a roller coaster ride—with one key difference. History shows us that the long-term progression of the market is upward. Not so with a roller coaster. With a roller coaster, you always get off at the same place you board. With the market, if you stay invested for the long haul, you won’t get off completely, and you’ll be at a higher elevation than you were at when you joined. What can you do to ride out the market?
- Know your personal risk tolerance and invest accordingly.
- Make sure your investments are diverse so you are not invested only in one or two funds.
- Be patient! Stay the course and know that history is on your side.
- Hang on and enjoy the ride—both the dips in the market and the ride back to the top and higher.
Don’t Throw Away Money: Take Advantage of the Company Match!
Are you throwing away money? You are if you’re not taking full advantage of your retirement plan’s company match. Some company-sponsored retirement plans match a certain percentage of your compensation. Here’s how it works:
Let’s say your company’s 401(k) plan has a dollar for dollar match on contributions up to 3% and then $0.50 on the dollar on the next 2% of your contributions. If you earn $30,000 per year and contribute only 3%, you get a 3% match. If you contribute 4%, you get a 3.5% match. However, it’s only by contributing a full 5% or more that you get the full 4% match. Not contributing means throwing away $1,200 per year at a $30,000 annual salary—and that doesn’t even take earnings potential into consideration! Check with your Human Resources/Payroll Department to find out if you have a company match and learn how you can take advantage of it!
Questions? Give Us a Call
Do you have questions about your retirement plan? Are you curious about your retirement readiness or distribution options? Contact your Trust Point relationship manager by calling 800.658.9474.