The COVID-19 outbreak has caused anxiety for many, from health concerns to financial stress. We have been providing insight into the market's movement and how the experts view the short- and long-term impact of the pandemic. For your convenience, I'v...
May
01
2020
See our recap of April's key statistics and market commentary below. Noteworthy Numbers The initial reading of Q1 GDP in the U.S. showed a -4.8% annualized decline as a result of depressed economic activity through the COVID-19 response. The spot pri...
April
22
2020
This article is part of our continuing series on the coronavirus and its effects on qualified retirement plans. Recently, we wrote about ways employees affected by the coronavirus could access money from their retirement plans. Today, we are discussi...
April
01
2020
See our recap of March's key statistics and market commentary below. Noteworthy Numbers The S&P 500 lost 19.60% during the first quarter of 2020, the worst quarterly return since 2008, as the wide-reaching impacts of COVID-19 shocked the global e...
March
23
2020
Options for Accessing Retirement Plan Money Amid COVID-19 Outbreak
Posted by David J. Kupstas, FSA, EA, MSEA
in 401(k), Retirement, Financial Planning, distribution planning, coronavirus, covid-19
with No Comments
Amid the coronavirus (COVID-19) scare, we are getting reports that our clients are imposing layoffs, furloughs, and temporary shutdowns. It makes sense; if people aren’t coming to your business, there’s no work for the employees to do and no money to...
March
03
2020
See our recap of February's key statistics and market commentary below. Noteworthy Numbers The S&P 500 Energy sector fell 14.56% during February. The sector is now down 24.01% year-to-date. The energy sector is negative for the one-year (-25.48%)...
February
27
2020
What does it mean when a plan fails its ADP test? An ADP test, Actual Deferral Percentage, is a discrimination test required by the law to ensure that the Highly Compensated Employees (HCEs) are not deferring at a much higher rate than the Non-Highly...
February
06
2020
Issues with Independent Contractors and Pension Plans
Posted by David J. Kupstas, FSA, EA, MSEA
in Retirement, Financial Planning, options
with No Comments
A number of our retirement plan clients have independent contractors performing services for them. There are often questions about whether these independent contractors can or should be covered in the company retirement plan. The answer can be boiled...
February
05
2020
See our recap of January's key statistics and market commentary below. Noteworthy Numbers The Energy sector fell by 11.07% in January amongst fears of a demand decrease due to the Coronavirus outbreak. U.S. GDP grew at only 2.1% annualized in the fou...
January
30
2020
What You Need to Know About the SECURE Act
Posted by J. Saunders Wiggins, CFP®, AIF®
in 401(k), Retirement, Wealth Management, Financial Planning
with No Comments
By now you have likely heard about the SECURE Act recently passed by Congress. The Setting Every Community Up for Retirement Enhancement (SECURE) Act will increase access to workplace retirement plans and expand retirement savings, but what provision...