Page 2 - Save Like News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Monday, February 22, 2021   View Larger + If you’ve read an article about 401(k) plans over the last 10 years, more often than not, it has been about how 401(k) fees are excessive, egregious and ruining the life savings of hard-working Americans.  Many of these articles, however, don’t tell the whole story. It’s time to dispel some of the myths. First, let’s clear some things up. When looking at ERISA (Employee Retirement Income Security Act of 1974), which governs 401(k) plans, it clearly states that 401(k) fees shall be REASONABLE for the products and services delivered. Nowhere i...

Monday, January 25, 2021   View Larger + Increasing retirement plan participation has always been a priority for employers, plan providers and advisors. The motivations behind the push vary, from improving discrimination testing results or increasing plan assets for more bargaining power to simply bettering overall financial wellness. Yet boosting participation is a constant challenge, especially today in the midst of a global pandemic that’s caused many to lose jobs or take pay cuts. So how can employers drive participation rates? Many folks point to automatic enrollment and automatic def...

Wednesday, December 16, 2020   View Larger + To drive plan participation, 69% of companies use an auto-enroll feature with their 401(k)s. This essentially allows the employer to enroll eligible employees unless they affirmatively elect not to participate. It can be a great way to increase participation in your company’s retirement plan. However, there are pitfalls to avoid. In some situations, employees’ wages would be reduced by the plan’s default contribution percentage, sometimes as low as 2% or 3%. A potential issue is that the default deferral rates could cause employees to contri...