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Social Security 101: Making the Most of Your Benefits
We all dream of a secure, comfortable retirement. Today, because we are living longer, we can expect to spend more time in retirement than our parents or grandparents did. That’s why it’s more important than ever to plan for your financial future now, to ensure you have the security needed in your golden years.
4 Qualified plan tax advantages for employers
As an employer, choosing to offer a 401(k) plan can benefit your employees. Did you know it can also benefit you?
Discover the advantages of adding SuperSaver to your retirement plan design
Learn how this exciting, low-cost plan amendment may be able to benefit your employees.
Be better prepared for tomorrow — while still enjoying today
Financial wellness is about achieving a healthy balance between living for today while preparing for tomorrow.
Five Ways to Maximize Your 401(k) Benefits
There’s never a bad time to learn what you can do to maximize the tax benefits you receive from participating in an employer-sponsored 401(k) plan. We offer these five easy tips to ensure you’re making the most of your workplace retirement plans.
The Value of Professional Financial Planning
Learn how professional financial planning can help you reduce your money stress and safeguard your financial future.
Staying cool when the market isn’t hot
Keeping your cool may be hard to do when the market goes on one of its periodic roller-coaster rides.
10 steps to help you handle a DOL investigation
As a plan fiduciary, you hope that a DOL investigation does not happen. Our best practices can help ensure you are prepared.
Guiding the fiduciary oversight process in 5 steps
Understanding fiduciary responsibility is key for plan sponsors and retirement plan committee members.
COVID-19 relief for federal student loan borrowers
Recently passed CARES Act offers some relief for those with federal student loans.
The link between employee productivity, health, and financial stress
Recent research has proven there is a direct link between financial stress and company productivity.
Top 8 reasons to join your 401(k) plan
When compared with other savings plans the 401(k) retirement plan has many benefits.
Coronavirus and Retirement Savings
COVID-19 is wreaking havoc on financial markets, both in the U.S. and abroad. However, by looking back in time, we might be able to educate and inform investor actions today.
Beware of Phishers during COVID-19
Remember to be vigilant about suspicious emails. The chaos created by COVID-19 is being used by Phishers to try and gain access to your personal information.
Protecting your retirement account and identity against cybercrime
Identity thieves and other criminals are increasingly targeting retirement accounts instead of more traditional targets such as credit cards. Because of this trend, it’s more important than ever to make sure that your account and personal data are secure.
Getting your ducks in a row
Taking the time to gather and share important documents with trusted family and friends is essential to ensuring your peace of mind in the event of an emergency.
3 tips to tackle debt and help brighten your financial future
Your dollars can add up fast once you start tackling debt. Use this 3-step guide to get started.
What are corrective distributions and how to avoid them going forward
Non-discrimination testing is an important part of sponsoring a 401(k) plan, but it shouldn’t cause an employer undue stress.
7 simple steps to organize your financial life
This easy-to-use checklist can help you take charge of your money
Lawsuits over the years and what it means for plan sponsors
The barrage of excessive fee lawsuits filed in 2006 started a trend that continues to this day.
Should you include ESG funds in your retirement plan?
ESG, or environmental, social and governance funds, can be appealing to many investors, including millennials.
Traditional IRA vs Roth IRA—which is best for me?
While it may seem like a very easy decision, there are many factors to consider before choosing which type of IRA is your best alternative.
Our 401(k) investments are on the watch list. Now what?
Approach, review, document, and decide
Items your annual retirement plan review may be missing
As a plan sponsor, you are no stranger to the annual retirement plan review.
Harnessing the power of compound interest
Take a look at how small changes in your spending habits can make a big impact.
90 - 10 - 90 rule
If you, your plan or your participants suffer from poor participation, low deferral rates or shortsighed investment decisions, you are not alone.
The impact of taking a 401(k) loan
Help guide your participants in the right direction by sharing this article with them.
How much should I save every month?
A simple question, right? Well there are a lot of factors at play...
Does your retirement plan address these 6 essential elements?
Retirement plans come in all shapes and sizes: DC Plans, DB Plans, Non-Qualified, 401(k), 403(b), 401(a), 457, SEP IRA, Simple IRA, Roth IRA, Cash Balance, HSA…and any other number letter combinations that you can think of.
Cyber-attacks are on the rise. Is your retirement plan protected?
Cyber-crime is on the rise worldwide.
Your past, present, and future to financial wellness
Getting a handle on your finances can help you tackle your debt, enhance your current lifestyle, and prepare for a comfortable financial future.
The power of 1%
60% of people say their 401(k) is the largest or only source of retirement savings, so why not make the most of your retirement savings account?
Retirement plan share classes: Understanding the basics
Choosing mutual funds for your retirement plan’s investment lineup can feel like wading through a sea of alphabet soup.
Benchmarking your plan is about more than just fees and expenses
It’s about helping you identify opportunities, achieving greater employee outcomes and minimizing your fiduciary risk.
Risky business: Why plan governance matters
In today’s continually-evolving regulatory and legal environment, it’s more important than ever to make sure your organization’s retirement plan is both effective and compliant.
Four tips to boost your employees’ retirement outlook
As many employees look ahead to retirement, 47% of workers feel somewhat confident that they’ll have enough money saved to retire on time and then live comfortably.
Understanding House Bill 7161 and its impact on your 403(b) plans
On June 27, 2017 Connecticut Governor Dannel P. Malloy passed an act that will bring non-ERISA 403(b) plans closer to ERISA 403(b) plans. The new law, which covers plans in Connecticut K-12 school districts, is the first in the country to require a much higher level of fiduciary standards for these types of plans.
Choosing the best fee allocation model for your 401(k) plan
We all know that paying for the administration of a retirement plan adds an expense to the bottom line.
Summer Reading
Regardless of how the delivery of books are evolving, the value they bring to our lives will never change. Starting in the middle of the 20th century, the world of finance and investing became more popular and consequently, so too did books on the subject.
Mutual Funds
Of the investments available to the public, mutual funds are easily among the most popular. Using a mutual fund, an average person can make use of a professionally managed and properly diversified investment without spending a tremendous amount of money.
Part 1 : Engaging HCE plan participation
Are your most vital employees saving enough for retirement? Ensure that the retirement plans you sponsor are effective and attractive to high-value employees.
Part 2: The best retirement packages for your HCEs
Now that you've engaged your employees in participation, discover how to optimize their plan under HCE rules.
Pension Liabilities
Pension plans have always wrestled with finding an appropriate balance between risk and return in the investment portfolio, and today's investment environment is not making that struggle any easier.
DOL Fiduciary Rule
On April 6, 2016, the Department of Labor issued the final version of its Fiduciary Rule. This new rule is the single biggest change affecting the way investment advisors provide advice to retirement plans since ERISA was introduced in 1974.
Teaching Kids About Money
As a parent, it’s your responsibility to teach your children about the world, including how to manage money. Financial literacy is one of the most important lessons you can impart on your children to make them successful in adulthood.
Saving Early for Retirement
There is no better time to put your money to work than when you are young. Learn how saving early can prevent future stress and keep more money in your pocket.
The Power of Compounding
Compounding is often referred to as “magical” because of the way it can help your savings grow. However, while its power is impressive, the way it helps you is simple math, not magic.
The Tax Advantages of Funding Higher Education
Paying for college is one of the biggest challenges facing students. Depending on the adjusted gross income of your family and other criteria you may be entitled to a tax refund of up to $2,500. Learn if you qualify for either of these programs.
Do Retirement Plans Without Limits Make Sense for Your Bank's Executives?
Since the passage of ERISA in 1974, plan sponsors have been trying to balance the delivery of retirement benefits (defined benefit or defined contribution) between qualified and nonqualified plans. A fundamental objective of either a qualified or nonqualified plan is the deferral of taxes.
Explore Your Rollover Options
You’ve decided to make a change in employment. Now you need to decide what to do with the 401(k) or 403(b) plan that you have with your former employer. According to a 2010 Fidelity survey of employees who made a job transition, almost one third were unsure of what to do with their workplace retirement plans.
What the Fiduciary Are you Talking About?
Since the passage of ERISA in 1974, plan sponsors, both for-profit and non-profit, have been wrestling with who is and who is not a fiduciary of their retirement benefit plans. In addition, a plan must have at least one fiduciary named in the plan document. Either a named person or entity (or persons or entities) must have the authority to manage and control the operation of the plan.
Pros and Cons of Target-Date Funds
Rebalancing your portfolio as you get closer to retirement is one of those financial upkeep talks that goes undone for many investors each year. Some don’t know how to rebalance their portfolio or even that they should be doing it. Others just can’t decide what the best asset allocation is for their age. Target date funds attempt to solve this problem.
CBIA Benefits Survey (13th Edition)
CBIA’s Benefit Survey Report (13th edition), sponsored by C.M. Smith Agency, Inc., and Hooker & Holcombe, contains information submitted by 297 companies throughout Connecticut. The report is divided into three sections: time off; health and other insurance benefits; and retirement benefits. A demographic summary of participants appears on page 39.
CBIA's Executive Compensation Report (8th Edition)
This, the eighth annual survey of compensation and benefits for Connecticut’s top executives, contains information on base salary, total compensation, incentives (short- and long-term), and benefits related to executive compensation.