Having a tax-focused understanding of your investments is an important component of preserving wealth. Here are a few tips for high-earners.

You’ve probably been hearing about “The Great Resignation” as more Americans than ever are leaving their jobs. We examine why this is happening in our latest informative article.

A Webinar: Mergers and Acquisitions - Impact on Retirement Plans

The Profit-Sharing Council of America reported that more than 20% of plans offer a brokerage window and that percentage is growing. It is true that a brokerage window provides a much wider range of investment options and potentially lower cost alternatives. It is also clear that the brokerage window would appeal mostly to those participants that are more hands on, i.e. higher paid and more knowledgeable about managing their investments. Unfortunately, this option, if offered, must be offered to all participants. Although the option must be offered to all participants the availability of the brokerage window can be limited to a specified percentage of the participant’s account, it can exclude certain investments, e.g. limited partnerships, options, futures, and other derivatives.

n most cases errors in the administration of a retirement plan result from the ERISA administrator’s lack of understanding of the provisions in the plan document. A clear example would be the definition of compensation. Does it exclude some part of compensation, e.g. bonuses, is it based on the plan year or calendar year? Understanding eligibility requirements as they relate to entry dates in another potential for an operational error when an employee enters the plan too early or too late. To avoid errors of this type, the plan should have a written administrative policy that identifies who is responsible for the various functions required to manage the plan. Will the plan sponsor or the payroll vendor be responsible for monitoring timely deposits of employee deferrals? Does the plan document indicate when and how often an employee can make changes to their deferral election?