1 min read

Leverage Automation to Boost 401(k) Financial Wellness

As Americans’ retirement savings rates continue to be lackluster and as companies become increasingly focused on their employees’ financial wellness, automatic enrollment and escalation features may be useful tools in managing your workforce and getting employees prepared for their financial futures. In addition to helping put employees on track for a successful retirement, implementing these features can have powerful benefits for employers, as well, by streamlining the enrollment process and serving as a tool to attract and retain talented workers.
 
Before adopting automatic enrollment or escalation, plan sponsors should work closely with their internal teams, as well as with their third-party service providers, to ensure that the proper controls and procedures will be put in place.
 
To better understand the benefits and administrative requirements of automatic enrollment and escalation and to assess how these features could be adopted in your plan, contact a member of Baldwin’s Retirement Plan Resources team at 502-584-4001.

Posted by John Winslow, CPA

2 min read

Accelerate your retirement savings with a cash balance plan

Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly...

Read More

1 min read

Time to Innovate Your Retirement Benefits Communications

Employees tend not to fully appreciate or use their retirement benefits unless their employer communicates with them about the plan clearly and...

Read More

SEPs: A powerful retroactive tax planning tool

Simplified Employee Pensions (SEPs) are sometimes regarded as the “no-brainer” first choice for high-income small-business owners who don’t currently...

Read More