Mindy Zatto is helping employers build the right retirement plan
Employee Benefit News
SEPTEMBER 18, 2023
Mindy Zatto, founding principal of Strategic Benefits Advisors, is on a mission to simplify and demystify retirement plans.
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Employee Benefit News
SEPTEMBER 18, 2023
Mindy Zatto, founding principal of Strategic Benefits Advisors, is on a mission to simplify and demystify retirement plans.
WEX Inc.
JUNE 13, 2023
And baby boomers are actually the highest percentage of retirement-account holders among any group segmented in a 2021 survey by the U.S. This lack of retirement planning by large segments of employees is leading to more stress for them and less productivity at work. Independence to make your own decisions in your retirement.
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HR Lineup
MARCH 13, 2022
Types of Qualified Retirement Plans. There are three classes of qualified retirement plans, namely: 1. Defined benefits plan. In a defined benefit plan, an employer pays a predetermined amount at either termination of employment or retirement. Hybrid plan. Target benefit plans.
HR Professionals Magazine
JULY 26, 2022
workers currently don’t have access to a retirement plan sponsored by their employer. To bridge this gap, a majority of states have contemplated state-mandated retirement savings plan legislation, and 13 have already signed such programs into law. Key retirement plan differentiators at a glance.
Proskauer's Employee Benefits & Executive Compensa
JANUARY 3, 2023
was signed into law on December 29, 2022 , making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. Correction of Retirement Plan Overpayments. changes how retirement plan overpayments are corrected in two key ways, which are detailed below.
Patriot Software
AUGUST 31, 2022
State-mandated retirement plans are here to nudge (erhm, push) employers into helping employees save for their future. But, all the different rules and regulations can cause you to trip on your way to offering retirement plans. Don’t get tripped up. We’re here to help you understand your responsibilities.
HR Professionals Magazine
MAY 24, 2022
The guidance asks fiduciaries of retirement plans to remember their main responsibility: act solely in the financial interests of plan participants and adhere to an exacting standard of professional care. The post Rolling the Dice on Crypto in Retirement Plan appeared first on HRProfessionalsMagazine.
HR Professionals Magazine
SEPTEMBER 2, 2021
As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide.
Business Management Daily
AUGUST 30, 2023
Employers have been trying to unpack the provisions of SECURE 2.0 The law is nothing short of a detailed overhaul of employer retirement savings plans. Sutton of Strategic Retirement Partners (aka “The 401k Lady”) said the new rules came out before employers and the industry were ready.
Patriot Software
OCTOBER 14, 2022
Have you avoided retirement plans because of the large fees and time-consuming administration? There are more options than ever, including a plan that has no fees or recordkeeping requirements for employers. If so, I’m happy to tell you that things have changed.
Money Talk
MAY 9, 2024
I love to play pickleball), or some other aspect of your life without incorporating your job title or employer. Be Realistic About Retirement Age - Retirement age is an important assumption in retirement planning and can happen earlier than expected. workers retire earlier than expected.
Wellable
JULY 12, 2021
The traditional goal of retiring at 65 is becoming a thing of the past. According to a recent survey conducted by the National Institute on Retirement Security, about one third of working Americans say their retirement plans have changed as a result of the pandemic.
Genesis HR Solutions
JUNE 21, 2022
When we talk to prospective clients about our PEO’s retirement plans, they’re sometimes skeptical about the value of using them, especially if they already have their own plans in place. They wonder: Is switching to a PEO’s retirement plan worth it? as long as it’s within the plan scope we offer.
Insperity
JANUARY 2, 2020
It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.
McDermott Will & Emery Employee Benefits
OCTOBER 11, 2023
Act codifying an opportunity for employers to provide matching contributions within a tax-qualified retirement plan based on their employees’ qualified student loan payments outside the plan. student loan benefit and other employer options for […] The post Employer Student Loan Debt Benefits Following SECURE 2.0
Health Consultants Group
APRIL 1, 2021
How CARES Act Affects Employee Retirement Plan Distributions. That includes compliance with CARES Act Section 2202 , Special Rules For Use of Retirement Funds. Employees who met these coronavirus-related conditions qualified for retirement plan distributions under the special rules. CARES Act Retirement Plan Rules.
HR Bartender
SEPTEMBER 21, 2016
You mentioned defined benefits plans. I know one of your areas of expertise is in the area of retirement planning. There are lots of articles these days on the topic of retirement – ranging from whether people are actually retiring (versus transitioning to an encore career) to the financial considerations of retirement.
BerniePortal
JUNE 8, 2021
working adult population has nothing saved for retirement and only Social Security to look forward to.” As a result, states are stepping in to provide state-sponsored retirement plans. Here’s how they work—and how they could help employers around the country.
International Foundation of Employee Benefit Plans
MAY 3, 2023
Research shows that one of the key hurdles for achieving retirement security is having access to a retirement plan at work.
InterWest Insurance Services
MARCH 22, 2022
The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. Employers with 50 or more workers – The deadline for registration was June 30, 2021.
Money Talk
JULY 13, 2023
Act of 2022 , passed last December, has financial planning opportunities for both the accumulation and distribution phases of retirement planning. New Catch-Up Limit - Currently, additional catch-up savings ($7,500 in 2023) in employer retirement plans is available for workers age 50+. The SECURE 2.0
Snell & Wilmer Benefits
MARCH 21, 2024
Here are the top 5 things employers should know: What is a PLESA? A PLESA is a retirement savings vehicle where non-highly compensated employees can make Roth contributions to their employer sponsored retirement account of up to $2,500. Employer Matching Contributions on PLESAs.
AssuredPartners
DECEMBER 11, 2022
The retirement landscape continues to evolve, from increases in longevity to Social Security reform to the pandemic. Today’s employers play a vital role in helping employees save and invest for retirement. With different needs and expectations, employers must first strive to understand the varying views of each generation.
McDermott Will & Emery Employee Benefits
JUNE 30, 2023
Retirement plans often apply (and in some cases are required to use) multiple definitions of wages or compensation for various plan purposes. Given this complexity, failures to follow a plan’s definition of compensation are one of the most common issues experienced by retirement plan sponsors.
Best Money Moves
MAY 10, 2022
5 benefits for employers to retain and attract top talent. High turnover creates an expensive problem for employers and stressful environment for employees. According to a survey by ArmadaCare, 78% of employees are more willing to stay with their employer due to their employee benefits. . According to SHRM, about ?
Employee Benefits
FEBRUARY 12, 2024
More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps. In addition, there are other ways for employers to support staff who have paid less in pension contributions at certain periods or throughout their careers. The Pensions (Extension of Automatic-Enrolment) (No.
Snell & Wilmer Benefits
SEPTEMBER 29, 2022
In general terms, CalSavers automatically enrolls eligible California employees in ROTH Individual Retirement Accounts if their employer does not provide a qualified retirement plan. CalSavers currently applies to eligible employers with five or more employees. a 401(k) Plan). As amended by S.B.
BerniePortal
JANUARY 25, 2021
1, 2021, pooled employer plans (PEPs) are now available options for employers. Established by the SECURE Act, PEPs operate as a new type of open multiple employer plan (MEP), changing the typical 401(k) and retirement plan landscape. As of Jan.
Professionals Alternative
MARCH 13, 2024
[link] Mitigating Risks: Key Considerations for Drafting Effective Legal Employment Contracts Introduction to Legal Employment Contracts As an employer, one of the most crucial steps you can take to protect your business is to have legally sound employment contracts in place.
Employee Benefits
FEBRUARY 16, 2024
Supporting employees with cost-of-living issues is rated as eighth on employers’ corporate agendas, while financial wellbeing comes in twelfth, according to research by Close Brothers. There is also a mismatch between the benefits desired by employees and those offered by employer respondents.
Money Talk
JUNE 16, 2022
If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.
Best Money Moves
MARCH 11, 2024
In fact, according to Forbes Advisor , 40% of employers believe that workers would leave their current jobs to find employment that offers better benefits. The study from Forbes Advisor shows that 67% of employees and 68% of employers believe healthcare to be the most important benefit.
Insperity
OCTOBER 10, 2023
workers better prepare financially for retirement, at every stage of their employment journey. workers who have not been able to save enough money to retire have delayed their transition into this next stage of life because of current economic conditions and record-high inflation. employer-sponsored 401(k) plans.
Patriot Software
APRIL 11, 2022
On your list of potential benefits are probably things like health insurance, retirement plans, and work-from-home opportunities. Although not as common, employer-provided housing is another option to mull over. It’s one of many perks you may look at when looking for ways to attract, hire, or retain employees.
Best Money Moves
APRIL 2, 2024
These programs are in high demand among employers and workers alike. In PNC’s Financial Wellness in the Workplace Study, 80% of employees said they would stay longer with an employer that offered more financial wellness benefits. Debt management skills help employees plan for a debt-free future. According to the St.
PeopleKeep
MARCH 27, 2024
There are often different eligibility requirements for employee benefits like health insurance , retirement plans, and paid time off (PTO). Employers and employees need to have a clear understanding of what constitutes an eligible employee and the requirements to qualify for specific benefits.
Money Talk
SEPTEMBER 14, 2023
Traditional IRAs and employer plans). Types of Tax-Deferred Accounts - These include employer-sponsored defined contribution plans (e.g., 401(k), 403(b), 457, thrift savings plan), Traditional IRAs funded with pre-tax dollars, simplified employee pensions (SEPs) for self-employed workers, and annuities.
McDermott Will & Emery Employee Benefits
JANUARY 3, 2024
Beginning in 2024, employers and plan sponsors will need to implement new minimum eligibility rules, enacted by the SECURE and SECURE 2.0 Acts, that significantly expand eligibility for long-term, part-time employees to participate in employer-sponsored retirement plans.
Money Talk
MAY 11, 2023
I recently attended three webinars related to retirement planning. One discussed required minimum distribution (RMD) rules, the second, retirement planning in general, and the third, the FIRE ( F inancial I ndependence, R etire E arly) movement. Time will tell if workers save more money and have more income in retirement.
Snell & Wilmer Benefits
SEPTEMBER 30, 2022
In general terms, CalSavers automatically enrolls eligible California employees in ROTH Individual Retirement Accounts if their employer does not provide a qualified retirement plan. CalSavers currently applies to eligible employers with five or more employees. a 401(k) Plan). As amended by S.B.
Hppy
JUNE 7, 2018
That makes planning for retirement more concerning and terrifying — 30 percent of employees feel stressed by retirement planning, mentally and emotionally. Employers may include helpful tools and resources in these packets and going over the details together as a first step. No one plan fits all employees.
Patriot Software
JULY 28, 2022
Here’s a shocking stat: More than 600,000 private-sector employees in Connecticut don’t have an employer-sponsored retirement savings plan. To encourage more employees in the state to save for retirement, Connecticut launched the MyCTSavings Retirement Program (MyCTSavings).
HR Lineup
MARCH 31, 2023
One of the biggest challenges is managing the employer-employee relationship, and this is where Employer of Record (EOR) and Professional Employer Organization (PEO) services come in. Additionally, both EOR and PEO services allow employers to focus on their core business functions, as they take care of all the HR-related tasks.
Money Talk
APRIL 11, 2024
RMD Inevitability - Required minimum distributions (RMDs) are inevitable if you have a traditional IRA (unless you make qualified charitable distributions), SEP-IRA, or qualified employer retirement plan (i.e., 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out. tax bracket was over 90%.
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