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What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry or emerging trends, you can read about it here. And once in a while, we may throw in a movie review or some other surprise. So keep checking in. We’re glad to have you reading along.

Wednesday, May 31, 2023

The designated benchmarks used within the Scorecard System were selected because they are the most appropriate and/or most commonly used indices in the marketplace (Russell 1000, MSCI EAFE, BC US Aggregate Bond, etc.). While both the...

Wednesday, May 24, 2023

Retirement plan committees can help plans function more efficiently and effectively. They aren’t a requirement under ERISA, though many organizations choose to establish committees for the many advantages they offer. A Host...

Wednesday, May 17, 2023

Across the nation, more and more workers are expecting to postpone retirement. In fact, a survey by the Nationwide Retirement Institute shows that 40% of older employees plan to retire later than anticipated because of inflation. And...

Wednesday, May 10, 2023

The advantages of financial wellness programming for employers are well-documented and may include: lower healthcare costs, higher worker retention, reduced absenteeism, and increased productivity. But not all financial wellness plans...

Wednesday, May 3, 2023

In December 2022, Morningstar adjusted its recommended starting annual withdrawal rate for balanced retirement portfolios upward from 3.3% to 3.8%. The revision was based on an assessment of factors, including recent equity valuations,...

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Wednesday, April 26, 2023

When you’re a plan fiduciary, you are, of course, prioritizing what ERISA law requires of you. You have a checklist of Must-Dos. But there is also a list of things that you can do proactively that will keep the plan—and...

Wednesday, April 12, 2023

Every municipal retirement plan has unique goals and objectives. Municipal plans can entail overseeing multiple providers, understanding intricate compliance and testing requirements, selecting investment options for plan participants,...

Thursday, March 30, 2023

Business owners have a lot of responsibilities. One of the most nebulous may be their fiduciary responsibility for the selection of investment options within their company’s qualified retirement plan. While the Employee...

Wednesday, March 8, 2023

Who has a seat at the table?Here we cover the key members of your exit planning team and their roles in the process. Business Owner 80-90% of an owner's wealth is locked in their business. Their ability to monetize this wealth impacts...

Wednesday, March 1, 2023

Determining the best course of action for your business transition can be hard. How do you know if the next owner will follow similar core values, have similar passions, and will carry on the brand successfully? Marion and Jesse Dunbar,...

Wednesday, February 22, 2023

You may have a great buy-sell agreement in place at the company where you are a partner or co-owner--one that clearly stipulates how much your family will be paid for your share of the business interest in the event of your death. It...

Wednesday, February 15, 2023

A disability can create substantial economic hardship for individuals and their families. As a business owner, your personal finances and business could be at risk. How would you pay your bills, send your kids to college, and save for...

Wednesday, February 8, 2023

A Case Study - Walter Conner Jr. began Waterloo Washrooms in 2015 to fill the need for luxury portable sanitation services and washroom trailers for events and construction projects in Florida. In 2016, Waterloo Washrooms acquired its...

Wednesday, February 1, 2023

Recent research from the Exit Planning Institute shows that only 52% of business owners have a written personal transition plan for what they would do after exiting their business. Planning for the next phase of an owner’s life...

Friday, January 27, 2023

An owner’s family directly impacts their business decision-making. Everything the business owner does, impacts the family directly and the families of their employees, partners, and vendors. Research from our 2021 New York State...

Monday, January 2, 2023

Retirement planning has long been thought of as saving as much money as possible to live off of for 20-30 years.Great, you have the money set aside to survive 20-30 years… now what will you do for those three decades?Below...

Monday, December 12, 2022

Do You Know Your Purpose?In order to have a meaningful life, you’ll need to cultivate your strengths, talents, and capabilities and use them to benefit yourself and others. People with a clearly defined purpose live years longer...

Monday, December 5, 2022

According to a PwC lower middle market and small-business owner research study, 75% of business owners profoundly regret selling their business just one year after selling. This is often the result of the owner and their...

Monday, November 28, 2022

One of the biggest mistakes many business owners make is spending all their time focused on growing and managing their company. It’s a natural mistake. Business owners are passionate about their companies. It’s their...

Wednesday, November 16, 2022

Business is Dependent on the Owner vs. Business is Independent of the Owner - Business Owner Characteristics - The owner works more than 55 hours per week in their business, and their business likely defines who the business owner...

Tuesday, November 1, 2022

Over the past five weeks, we've covered the process of understanding your business value. These five stages of value maturity ready businesses and business owners for an exit. By completing the Value Maturity Index, you learn where you...

Monday, October 24, 2022

Once you have protected your existing value, your focus can expand to building value.There are two ways to build value: increase your cash flow (EBITDA) and improve your multiple. Your multiple is the number assigned by the private...

Monday, October 17, 2022

After building your business value, it is time to harvest the fruits of your labor.There are numerous paths your business exit can take. You should invest in an investment banker and business advisor to get the most value out of your...

Monday, October 3, 2022

Once you have protected your existing value, your focus can expand to building value. According to Chris Snider in Walking to Destiny, there are two ways to build value: increase your cash flow (EBITDA) and improve your multiple. Your...

Monday, September 26, 2022

After identifying your business’s baseline value, you must protect that value by mitigating any risks associated with it.It is in this stage of the Five Stages of Value Maturity in which business owners and advisors create a...

Monday, September 19, 2022

Roughly 80-90% of a business owner's net worth is locked in their business. In order to maximize your value, you must set up a system to determine the value hidden in your business.

Monday, September 12, 2022

Utilizing the Five Stages of Value Maturity to Ready Business (and Business Owners) for an ExitThe Five Stages of Value Maturity is one of the core concepts of the Value Acceleration Methodology. In its simplest form, it shows the five...

Monday, September 5, 2022

The aspect that makes the Value Acceleration Methodology a novel strategy in the exit planning field is the owner’s ability to decide their path. Between the Prepare and Decide gates is a decision diamond that makes a gateway or...

Friday, August 26, 2022

By the time an owner gets to gate two of the Value Acceleration Methodology, they have established their vision for their company. They have a plan put together and action items to complete to build value in their organizations. The Prepare

Monday, August 22, 2022

If you have recently started your own business and work out of your home, you'll probably need to upgrade your insurance program. At-home business owners often make the mistake of assuming that their homeowners policy covers their...

Friday, August 19, 2022

From Successful to Significant the Exit Planning Institute's framework for a High-Value Business TransitionPart II: What is Value Acceleration?The Value Acceleration Methodology is a strategic framework for executing exit planning...

Monday, August 15, 2022

Do you spend your days hotel hopping? Do you see the inside of your car more than the inside of your bedroom? Many people spend a great deal of time traveling for business. If you're one of them, take a look at these insurance tips.On...

Monday, August 8, 2022

Insurance serves many purposes for a business. You'll need insurance to protect your business from property damage, personal injury suits, and other forms of financial loss. In addition, you may want to provide your employees with...

Monday, August 1, 2022

You may have heard that the health-care reform legislation passed in 2010 requires all employers to provide health insurance to their employees. That is not the case. But the law does try to encourage employers to offer health...

Friday, July 29, 2022

I am excited to announce I have joined the Certified Exit Planning Advisor (CEPA) Community. This credential and the support of the Exit Planning Institute provide professional advisors with the content, tools, and training needed to...

Monday, July 25, 2022

Group term life insurance is simply term insurance issued to people who belong to a group that has a common interest or association, such as an employer, a trade, or a school affiliation. Premiums increase annually or in "bands" of...

Monday, July 18, 2022

All states and the District of Columbia have workers' compensation laws designed to protect employed individuals who get sick, injured, or killed on the job. Employers pay the cost of workers' compensation by purchasing private...

Monday, July 11, 2022

If you're a business owner, you probably carry insurance for financial protection and peace of mind. You don't need to be an expert on this type of insurance, but you should have a basic understanding of your own business owners policy...

Tuesday, July 5, 2022

No matter how careful you are in running your business, accidents happen. And no matter how big or small your business, you'll have to plan for these and other risks if you want your business to thrive. One way to do this is with...

Monday, June 27, 2022

Group disability insurance is a single disability policy that covers many people (a group) who have a common interest or association, such as an employer, a trade, or a school affiliation. When your business offers a group disability...

Monday, June 20, 2022

If you own your own business, chances are you've at least thought about the conditions under which you will leave the business and who is going to take over after you're gone. Business continuation is difficult enough under normal...

Monday, May 30, 2022

When your local weather forecaster tells you that it's going to rain, what do you do? That's easy--you reach for your umbrella. So why not purchase an umbrella that can protect you in stormy financial weather? Umbrella liability...

Monday, May 23, 2022

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities...

Monday, May 16, 2022

The longer you live, the greater the chances you'll need some form of long-term care. If you're concerned about protecting your assets and maintaining your financial independence in your later years, long-term care insurance (LTCI) may...

Monday, May 9, 2022

The best time to plan for the possibility of nursing home care is when you're still healthy. By doing so, you may be able to pay for your long-term care and preserve assets for your loved ones. How? Through Medicaid planning....

Monday, May 2, 2022

Life insurance is an agreement between you (the policy owner) and an insurer. Under the terms of a life insurance policy, the insurer promises to pay a certain sum to a person you choose (your beneficiary) upon your death, in exchange...

Monday, April 25, 2022

Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and certain younger people with disabilities or end-stage renal disease. Here are some basic facts about...

Monday, April 18, 2022

Everyone's familiar with 401(k) plans, but not everyone knows they come in different flavors. There's the traditional 401(k), of course. But there are also SIMPLE 401(k)s for small employers, 401(k)s with qualified automatic...

Monday, April 11, 2022

The headline U.S. unemployment rate fell from 6.7% at the end of December 2020 to 3.9% in December 2021, marking the biggest one-year improvement in history.1 While many workers took advantage of this strong rebound in the job market,...

Monday, April 4, 2022

Let's say you want to reward a few key executives with low-cost life insurance. Can you do so without providing the same benefit to your other employees? You can with a split dollar life insurance plan. In fact, such an arrangement can...

Monday, March 28, 2022

If you give away money or property during your life, those transfers may be subject to federal gift and estate tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also be subject to...

Monday, March 21, 2022

Business overhead expense insurance is a type of disability insurance that's designed to protect your business if you become disabled. Specifically, it provides monthly payments to your business for a specified period of time so that...

Monday, March 14, 2022

Keeping good business records will not only help you stay in business but may also help you increase profits. Your business records let you analyze where your business is and where it's going. They point out potential trouble spots and...

Monday, March 7, 2022

Would you like to reduce your health insurance costs, save on taxes, and put away more money for retirement? If you meet certain rules, an Archer medical savings account (Archer MSA) may be just what you're looking for. What is an...

Monday, February 28, 2022

If you're like most people, you bought life insurance to provide for your loved ones in the event of your death. But because you're self-employed, you may have an even greater need for life insurance: You'll want to protect your family...

Monday, February 21, 2022

No matter how careful you are in running your business, accidents happen. And no matter how big or small your business, you'll have to plan for these and other risks if you want your business to thrive. One way to do this is with...

Monday, February 14, 2022

So, you're thinking of going into business for yourself. You have several options available, and all involve some degree of risk. Do you want to create a start-up operation? Perhaps you are planning on buying an existing business. Or,...

Monday, February 7, 2022

Your health insurance coverage probably came in handy several times over the past year. It all seemed so simple at the time--you paid a deductible, and your insurance usually kicked in the rest. But what do you do at tax time? Just...

Monday, January 31, 2022

Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes and take charge of...

Monday, January 24, 2022

As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right...

Thursday, January 20, 2022

You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe...

Tuesday, January 11, 2022

You've got a great group working for you now, and business is good. You know that much of that success is due to one or two key people with both skills and personalities that are hard to match. Suppose they were injured and out of work...

Monday, January 3, 2022

If you're a small business owner, you face many challenges in growing your company. One of them is recruiting and retaining the best talent for your needs. When your primary goals are managing costs and increasing revenue, how do you...

Monday, December 13, 2021

Monday, December 6, 2021

Monday, November 15, 2021

As a successful business owner, you don't want to think about your operations being interrupted by a natural disaster or other unexpected event. Yet the possibility is a real one. Natural catastrophes represent just a portion of the...

Monday, November 1, 2021

You don't want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income. 1. Postpone your income to minimize your current income tax liability...

Monday, October 25, 2021

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement...

Monday, October 18, 2021

Approximately 69 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits. (Source: Fast Facts & Figures About Social Security, 2020) Although most people...

Tuesday, October 12, 2021

As a partner or co-owner (private shareholder) of a business, you've spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth...

Monday, October 4, 2021

Introduction Investment planning during retirement is not the same as investing for retirement and, in many ways, is more complicated. Your working years are your saving years. With luck, your income increases from year to year as you...

Monday, September 20, 2021

Contributing to your employer’s retirement plan as soon as you’re eligible is crucial to meeting your retirement goals. The earlier you start saving, the more time compounding interest has to work on your behalf. Putting...

Monday, September 13, 2021

Saving for retirement can be intimidating, but it doesn’t have to be. Finding reasons not to contribute to your retirement plan will hurt you in the future. Do any of these excuses sound familiar? If you think… Then...

Monday, August 23, 2021

What are traditional IRAs and Roth IRAs? A traditional IRA is a personal savings plan that offers tax benefits to encourage retirement savings. In 2021, you can contribute up to $6,000 per year. You and your spouse together may...

Monday, August 16, 2021

Introduction Investment planning during retirement is not the same as investing for retirement and, in many ways, is more complicated. Your working years are your saving years. With luck, your income increases from year to year as you...

Monday, August 2, 2021

What are the different types of annuities? There are literally hundreds of different annuity types--enough to boggle the mind of anyone at first glance. Furthermore, the companies that issue annuities are busy creating new types of...

Monday, July 26, 2021

In general, you can transfer all or a portion of your traditional IRA funds to a Roth IRA. This can be accomplished in one of two ways: You can convert your traditional IRA to a Roth IRA, or you can roll over funds from your...

Monday, July 19, 2021

What is it? In general, you can transfer all or a portion of your traditional IRA funds to a Roth IRA. This can be accomplished in one of two ways: You can convert your traditional IRA to a Roth IRA, or you can roll over funds from...

Monday, July 12, 2021

What is it? Both you and your employer are subject to requirements concerning income tax withholding . Many of these requirements concern Form W-4, the IRS form that enables employers to determine how much to withhold from your...

Monday, July 5, 2021

What are business life cycles, and what is their relationship to business planning? Generally, businesses pass through three stages before reaching the final stage of decline. The time it takes to reach or to pass through each stage...

Monday, June 28, 2021

What is a beneficiary? Receiver of death proceeds A beneficiary is the individual or entity you name (designate) to receive the proceeds of a life insurance policy on your life. Irrevocable versus revocable A beneficiary can be...

Monday, June 7, 2021

In general During your working years, you've probably set aside funds in retirement accounts such as IRAs, 401(k)s or other workplace savings plans, as well as in taxable accounts. As you approach retirement, you'll need to consider...

Monday, May 31, 2021

Introduction Long-term care insurance (LTCI) policies offered by insurance companies can be purchased directly from the companies, through an insurance agent, through your employer, or through an association. If you work for the...

Sunday, May 23, 2021

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility —...

Sunday, May 16, 2021

Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes and take charge of...

Monday, May 10, 2021

If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan...

Monday, April 26, 2021

On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the pandemic. Included in the bill were several provisions related to education, including many changes to financial...

Monday, April 19, 2021

There's Still Time to Contribute to an IRA for 2020 Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2020. You have until your tax return due date (not including extensions) to...

Monday, April 12, 2021

Roth Conversion at Death Case Scenario: Sarah Roth (age 73) is a prospective new client. She is recently widowed. Her husband, Bill (who was 75), has $1,000,000 in his retirement accounts and she received $400,000 life insurance...

Monday, April 5, 2021

What’s the best retirement strategy for you? What type of retirement account will provide a larger balance and therefore greater distributions? Will it be a traditional IRA, 401(k), 403(b), etc., where contributions are either...

Monday, March 22, 2021

American Rescue Plan Act Provides Relief to Individuals and Businesses On Thursday, March 11, 2021, the American Rescue Plan Act of 2021 (ARPA 2021) was signed into law. This is a $1.9 trillion emergency relief package that includes...

Monday, March 15, 2021

The 401(k) plan is becoming the single largest source of retirement savings for a majority of American workers. According to the Society of Professional Administrators and Recordkeepers (SPARK), over 55 million people participate in...

Monday, March 8, 2021

Saving for retirement is not easy but using your retirement savings wisely can be just as challenging. How much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too...

Tuesday, February 23, 2021

Earn your full savings potential by hitting the full match plus more. For help finding the correct deferral amount for you, contact our financial professional, Doug D’Andrea at 860-521-4015 or ddandrea@integritybenefitpartners...

Monday, February 8, 2021

An ounce of prevention is worth a pound of cure. This saying is universal, and certainly applies to fiduciary responsibility. Beginning the year with an eye towards avoiding some of the most common errors makes sense. Most fiduciary...

Monday, February 1, 2021

We know that most plan participants are not financial experts, and that can make planning for retirement difficult. Fortunately, there are some basic steps that you can follow to work toward a successful retirement. Learn the basics of...

Monday, January 18, 2021

Take Charge of Your 401(k) HIGHLIGHTS INCLUDE: Powerful information that could potentially save you thousands in taxes and fees Tips to help put you one step ahead in your retirement preparations Critical mistakes that cannot be...

Monday, January 11, 2021

As a business owner, you face unique challenges and opportunities when building a financial future. This special report provides insights on mistakes to avoid and steps to take when building the retirement you desire—while...

Tuesday, January 5, 2021

If you're self-employed or own a small business, you've probably considered establishing a retirement plan. If you've done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for...

Monday, December 28, 2020

An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k) or other plan...

Monday, December 14, 2020

Employers can offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you're lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your...

Thursday, December 10, 2020

Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you're...

Monday, November 30, 2020

Understanding Defined Benefit Plans You may be counting on funds from a defined benefit plan to help you achieve a comfortable retirement. Often referred to as traditional pension plans, defined benefit plans promise to pay you a...

Monday, November 23, 2020

Retirement Plans for Small Businesses As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you're allowed certain tax benefits for establishing an...

Monday, November 16, 2020

Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a...

Monday, November 9, 2020

If you own a small business, you may be finding it increasingly necessary to implement a benefit program to attract and retain employees. For small businesses, benefit plans generally consist of some of the major insurance benefits,...

Monday, November 2, 2020

Phased retirement includes a range of flexible retirement approaches that would allow employees approaching normal retirement age the option to reduce the hours worked while phasing into complete retirement. For employees, phased...

Monday, October 26, 2020

Employers have heard a lot about financial wellness. However, employers don’t always recognize the connection between financial wellness and improved retirement savings behavior as well as a more productive workforce overall. All...

Monday, October 19, 2020

Don’t Cash Out Retirement Plans When Changing Employment When you leave a job, the vested benefits in your retirement plan are an enticing source of money. It may be difficult to resist the urge to take that money as cash,...

Monday, October 12, 2020

There are clear differences between President Donald Trump and Former Vice President Joe Biden (and the political parties they represent) when it comes to tax policies, spending priorities, and overall economic strategies. For this...

Monday, October 5, 2020

On August 18, 2020, the S&P 500 set a record high for the first time since COVID-19 ushered in a bear market on February 19. The cycle from peak to peak was just 126 trading days, the fastest recovery in the history of the index,...

Monday, September 28, 2020

IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government. The limits are adjusted periodically to compensate for inflation and increases in the cost of living. IRAsFor the...

Monday, September 21, 2020

What is using life insurance and estate planning for retirementplans? The assets in your qualified and nonqualified retirement plans will be included in your gross estate when you die. For those whohave accumulated substantial assets...

Sunday, September 13, 2020

Rowe Price did a deep dive into its recordkeeping data and surfaced with a few important points. Its “Reference Point Report is an annual client data benchmarking report so plan sponsors can review trends and benchmark their...

Monday, September 7, 2020

Employer-sponsored retirement plans are more valuable than ever. The money in them accumulates tax deferred until it is withdrawn, typically in retirement. Distributions from a tax-deferred retirement plan such as a 401(k) are taxed as...

Friday, August 28, 2020

You might wonder why I chose my profession. When I finished college, I sold life insurance to make money until I could find work more suited to my passion. I was always attracted to healthcare and really wanted to work in medicine. I...

Monday, August 17, 2020

Annuities and Retirement Planning You may have heard that IRAs and employer-sponsored plans [e.g., 401(k)s] are the best ways to invest for retirement. That'strue for many people, but what if you've maxed out your contributions to...

Monday, August 10, 2020

What is it? As the name suggests, an employer-sponsored retirement plan is a plan that an employer sets up and maintains for its employees' retirement. A qualified retirement plan is an employer-sponsored retirement plan that receives...

Tuesday, July 14, 2020

Subsequent to the 2012 implementation of ERISA fee reporting regulations (ERISA 408(b)(2) & 404(a)(5)), the Department of Labor (DOL) began to consider the appropriateness of the allocation of plan fees among participants. This is a...

Tuesday, July 14, 2020

Businesses understand how vital it is for employees to understand retirement options and are increasingly including employee education in fiduciary risk management, whether it’s in the form of one-on-one counseling or educational...

Monday, June 22, 2020

Beware of the IRS and DOL: Four Red Flags They Seek on Form 5500 The Form 5500 is an ERISA requirement for retirement plans to report and disclose operating procedures. Advisors use this to confirm that plans are managed according to...

Tuesday, June 16, 2020

Establishing a Budget Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you...

Wednesday, June 10, 2020

Your team has undertaken the due diligence to research various service providers. Based on a myriad of data points, experience, potential interviews of candidates, internal analysis and discussion, your team has decided it is prudent...

Monday, June 1, 2020

The recent market volatility brought on by COVID-19 has been unsettling to investors as the way forward has become more uncertain and in some cases, changed daily. Recent market volatility has been both dramatic on the downside, with...

Monday, May 25, 2020

Watch Out for Coronavirus Scams Fraudsters and scam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the...

Friday, May 15, 2020

During the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March. 1 By all accounts, the drop was largely driven...

Friday, May 1, 2020

Bear Markets and Past Market Declines As of March 12, 2020, the S&P 500 Index entered into bear market territory, defined as a 20% decline from the index’s past high. The Dow Jones Industrial Index, another often quoted index,...

Monday, April 27, 2020

Coronavirus Aid, Relief, and Economic Security (“CARES") Act, enacted March 27, 2020 (summarized in two pieces—provisions primarily affecting individuals (in a separate piece) and provisions primarily affecting businesses...

Monday, April 20, 2020

Coronavirus Aid, Relief, and Economic Security (“CARES") Act, enacted March 27, 2020 (summarized in two pieces—provisions primarily affecting individuals below and provisions primarily affecting businesses in a separate...

Monday, April 6, 2020

Updated March 30, 2020 CARES Act Legislation Summary On March 27, 2020, the Coronavirus, Aid, Relief, and Economic Security (CARES) Act (the “Act”) was signed into law. A portion of the Act is intended to loosen access to...

Monday, April 6, 2020

COVID-19 INSIGHTS FOR RETIREMENT PLAN SPONSORS As of March 2020, the COVID-19 pandemic has made its impact throughout the United States. Not only has it had a significant effect to the economy, it has changed nearly every Americans way...

Thursday, April 2, 2020

We are living in unprecedented times -experiencing a world-wide pandemic, which translated to a financial crisis. It is surreal. A few weeks ago, we were leading our normal lives, and seemingly overnight everything changed. People grew...

Monday, March 9, 2020

Retirement plan fees are complicated. Between administration, investment management, record-keeping, consulting, revenue sharing, sub-TA and 12b-1, it isn’t always clear to plan participants or plan sponsors exactly what...

Monday, March 2, 2020

IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is $6,000 (or 100% of your earned income, if less), unchanged from 2019. The maximum catch-up contribution for those age 50 or...

Monday, February 24, 2020

Questions & Answers Which employees do you have to include in your cash balance plan? You generally must include all employees who are at least 21 years old and have at least one year of service. Two years of service may be required...

Monday, February 17, 2020

Advantages of cash balance plans The plan offers guaranteed pension benefits for employees This is the key similarity between cash balance plans and traditional pension plans. Each participant ultimately receives a dollar amount...

Monday, February 10, 2020

Tax benefits of cash balance plans Tax considerations for employees When you contribute to a cash balance plan on behalf of your participating employees, those employer contributions are not currently included in the employees' taxable...

Monday, February 3, 2020

How does it work? Hypothetical accounts Each participant in a cash balance plan has a hypothetical individual account or "cash balance" established for record-keeping purposes. With these hypothetical accounts, participants can easily...

Wednesday, January 15, 2020

What is a cash balance plan? A cash balance plan is a qualified employer-sponsored retirement plan that has become increasingly common in recent years as an alternative to (or replacement of) the traditional defined benefit pension...

Wednesday, January 8, 2020

The Fundamentals of Disability Insurance Disability insurance pays benefits when you are unable to earn a living because you are sick or injured. Most disability policies pay you a benefit that replaces a percentage of your earned...

Thursday, December 19, 2019

Do I need disability income insurance? Although most of us are aware of the need for health insurance coverage when determining our risk management needs, many of us fail to consider the possibility that we could become disabled. A...

Thursday, December 12, 2019

Questions & Answers Which employees do you have to include in your new comparability plan? In general, to be "qualified" (i.e., tax exempt), a plan must meet employee coverage tests that demonstrate that the plan does not discriminate...

Wednesday, December 4, 2019

When can it be used? Generally, any employer is eligible to set up a new comparability plan While just about any employer can set up a new comparability plan, it is most suitable for businesses with owners and principals who: Want the...

Friday, November 22, 2019

What is it? In general A new comparability plan is a qualified profit-sharing plan that can have more substantial contributions for favored employees (usually higher-paid workers and key employees). With this type of plan,...

Monday, November 18, 2019

When can it be used? You anticipate the need for long-term care, you wish to protect your assets for your loved ones, and you can afford to pay the premiums. When buying an LTCI policy, you must consider not only whether you can afford...

Monday, November 11, 2019

Avoiding penalties is a crucial piece of wealth management. Long-Term Care Insurance (LTCI) is no exception. One of the advantages of LTCI is the ability to leave a legacy to loved ones after entering a nursing home, but let’s...

Friday, October 25, 2019

Long-Term Care Insurance (LTCI) can be an asset when used as a protection planning tool. As with any wealth management or retirement planning tool, it is important to weight the strengths and tradeoffs to decide if it is the right fit...

Thursday, October 3, 2019

Long-Term Care Insurance (LTCI) can be a great addition to your overall asset protection strategy under the right circumstances. Below we define LTCI and how to use it as a retirement planning tool. What is it? Long-term care insurance...

Monday, September 16, 2019

Fall clean-up: it’s time to check the honey and your money I am a beekeeper. I started my apiary earlier this year with two hives, and I am hoping that one day I will be able to share honey with my friends and family while I...

Tuesday, August 20, 2019

How Teaching my Daughter to Ride Her Bicycle Completely Changed my Perspective on Investing This is a photograph of me with my daughter Deborah about ten years ago starting the MS Bike Tour in New York. It was one of many rides we...