Retirement Advisor

Since failure to comply with the regulations pertaining to 401(k) administration can lead to significant financial penalties, business leaders need to familiarize themselves with the new retirement plan rules starting with 2023.

For the annual review, an investment policy statement is highly recommended, which outlines general rules for the manager, provides the general investment goals and objectives and describes the strategies to employ.

No slowdown is expected in the coming months when it comes to employer-sponsored health care and retirement plans. Here are some of the big-ticket items.

Those who proactively get ahead of the game's new rules will be best positioned to serve the needs of their companies, as well as current and former plan participants, while also protecting themselves against liability.

This can be an opportunity for employers to share practical financial wellness solutions through live seminars, video classes, training available online and face-to-face conversations.

Most public pension plans are distressed or fragile, and there are better ways – risk-managed pensions, guaranteed return plans, hybrid plans or any combination – to design them for the 21st Century, says a new report.

With the passage of this landmark legislation, significant administrative guidance on changes to retirement plans will be forthcoming from the IRS and the DOL, but here is a preliminary summary of the most relevant changes.

Not only does this finding from a new survey bode well for advisors, but it bolsters the bridge between employers and advisors, making collaboration toward better retirement outcomes more organic.