When it comes to fiscally frugal health insurance options, health savings accounts (HSAs) aren’t exactly new to the game. They’ve been around since 2003 and have only increased in popularity among employers, politicians and certain types of employees. In recent years, however, the growth in popularity of HSAs is due less to the accounts’ function from a cost-saving benefit plan and more to its utility as a wise choice for investment opportunities.

Fiduciary Hot Topics - Q1 2022 covers “Alternative Investments” in Retirement Plans, The Department of Labor takes a 180 Degree Turn on ESG Investing and The Schlichter Firm Gets its Hand Slapped.

Retirement planning is an exciting task, although we understand it can be intimidating for some. The many opportunities and options for a great future can be overwhelming. It is important to take the time to make the best plans and decisions possible for one’s happiness and well-being.

Ten Things to Know About Your Employer’s Retirement Plan

No one wants to be caught flat-footed when the auditors come calling. With a new standard issued by the American Institute of Certified Public Accountants (AICPA), both auditors and plan sponsors will be subject to new responsibilities.

In the retirement plan industry, all too often we tend to conflate financial wellness with retirement readiness — whether this means confidence in obtaining retirement goals or being on track to reach post-employment financial targets. However, this limited view may fail to paint a complete picture for many participants.

A recent IRS Issue Snapshot (link below) affirms a participant loan is a legally enforceable agreement and terms of the loan agreement must comply with Internal Revenue Code (IRC Section 72(p)(2) and Treasury Regulation Section 1.72(p)-1).

With the season changing and life ever pulling us forward, you may want to consider life changes which may affect your financial goals.

Retirement income funds can serve an important purpose as a participant investment option for retirement plans. When surveyed, many participants expressed interest in investment options which generate monthly income during their retirement years.

Nearly three-fourths of participants under 30 think employers should provide access to financial professionals and coaching to help them. Even more telling, 62% wish they could push an “easy button” and completely turn over retirement planning to someone else. This figure is up from 55% in 2016.

Participant data and financial accounts comprise some of the most sensitive and potentially vulnerable information under a company’s care. These highly valuable assets can be an attractive target for cybercriminals and therefore present considerable security risk.

Fiduciary Hot Topics for Q4 2021