The Society of Actuaries’ Committee on Post Retirement Needs and Risks recently published a set of briefs outlining major decisions in retirement. They are written with the intent of creating thought provoking discussions prior to retirement. I have been surrounded … Continue reading
Independent Actuaries Blog
New Retirement Plan Limits for 2012
It’s hard to believe we’re in 2012 already! With the New Year, there are new retirement plan limits you should know about. Deferrals (401(k) salary deferrals) and catch-up deferral contributions are always limited on a calendar year basis. For 2012, … Continue reading
The Value of a Defined Benefit Pension Plan Rediscovered
One of the great financial scams of the last thirty years has been the replacement of traditional (Defined Benefit) pension plans with 401(k) plans. Somehow, the financial industry and a whole host of businesses have been able to convince their … Continue reading
Defined Benefit Plans – Helping Employees Retire
A recent University of Missouri study found that, among other things, pre-retirees with only a defined benefit plan are almost twice as likely to retire in any given year when compared to those with only a defined contribution (401(k)-type) plan. … Continue reading
Hidden 401(k) Fees: No Such Thing as a Free Lunch
I was assisting a small employer with the completion of a Form 5500 for a 401(k) plan the other day. The plan’s trust account holds roughly a million dollars. The plan’s trust account statements (produced by the mutual fund company where the … Continue reading
How to Take Full Advantage of a Cash Balance Plan Interest Crediting Rate
It is not intuitively obvious to potential participants that a 4% interest crediting rate in a cash balance plan today is an attractive retirement planning option. Only after the cash balance plan is considered as part of an overall retirement … Continue reading
Steve Diess on Financial Focus Radio
Steve Diess on Financial Focus Radio Steve Diess, president of Independent Actuaries, Inc. talks about retirement with Troy and Tyler of Financial Focus Radio. Click on the links below to listen to the broadcast. Financial Focus Radio, Segment 1 Financial … Continue reading
Another Election? Plan Sponsor Elections in PPA
Let’s face it; defined benefit plans are complicated to begin with. I personally like to keep the day-to-day administrative tasks as easy as possible for my clients. I am finding that more difficult as we drive into the fourth … Continue reading
To Keep or Not to Keep Plan Records
Whether ‘tis nobler in the mind to suffer, plan sponsors find themselves asking “how long should I keep retirement plan records?”. The short (and not very helpful) answer is: “it depends”. As you may be painfully aware, there can … Continue reading
A (Long) Fade into the Sunset
In our profession, we often talk about the ideal of “phased retirement”. From a lifestyle standpoint, it can be a challenge to work full time up to a certain age, abruptly retire, work zero time thereafter, and be happy and … Continue reading