RPS Blog

What happens if i need money from my 401(K) Plan?

Posted by Nathan Carlson on Dec 28, 2016 9:00:00 AM

RPS December Newsletter

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Topics: Retirement Planning, 401(k) Plan

Know your limits for 2016

Posted by Nathan Carlson on Nov 3, 2015 4:21:22 PM

On October 21, 2015 the IRS announced the 2016 limits that affect qualified retirement plans.  As you can see, they are unchanged from 2015.

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Topics: ERISA, Retirement Planning

Bold Steps You Need To Be Taking For Your Retirement

Posted by Nathan Carlson on Oct 30, 2015 2:33:57 PM
Good research needs to be shared.  Such is the case with the following study recently released by American Century Investments.  Seventy-three percent of plan participants said they could have afforded to save more and would have done so if they just knew one key number -- the amount they needed for retirement.  Over one in four participants, ages 25-54, would give themselves a "D" or an "F" in putting money away for the future.  
 
Furthermore, nearly seven in 10 support automatic enrollment at a 6 percent starting contribution rate and more than eight in 10 participants would have favored at least a moderate annual increase in their personal retirement savings of 1% a year until a savings rate of 10% was achieved.
 
Research like this encourages companies that sponsor 401(k) plans to take bold steps.  Add auto-enrollment, auto-increase, and auto-invest options.  A few participants will object but the vast majority will thank you and you will have the calm assurance of knowing you did the right thing.
 
The ERISA specialists at Retirement Planning Services can help clients implement these features, for when done properly, the fiduciary liability is actually reduced.
 
Read the full report here:
Click Here
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Topics: Retirement Planning

U.S. Retirement Readiness: It’s not as bad as you think—It’s worse!

Posted by Nathan Carlson on Oct 30, 2015 2:16:25 PM


Stig Nybo, President of Pension Sales and Distribution at Transamerica Retirement Solutions, in conjunction with Liz Alexander have written a must-read book on retirement entitled, Transform Tomorrow, Awakening the Super Saver In Pursuit of Retirement Readiness.  The book calls attention to the looming retirement crisis in the United States and suggests some fundamental changes to how the retirement industry should present this issue to employees.  

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Topics: Retirement Planning

Why A $Million is Not Enough for Retirement!

Posted by Nathan Carlson on Oct 30, 2015 2:07:36 PM

For many, retiring with a million dollars would be a dream come true.  However, for a highly paid professional, a million dollar retirement nest egg may only be a third or fourth of what is actually needed.  Numerous studies have shown that key to a successful retirement is the management of the annual withdrawal rate.  Industry professionals recommend withdrawing no more than five percent of your retirement savings in any year.  Therefore, a million dollar retirement nest egg will only provide a $50,000 annual retirement income, two million would provide an annual retirement income of $100,000, and so on.  Essentially, one takes the desired annual retirement income and divides that number by 5% (.05).

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Topics: Pension, Retirement Planning, 401(k)

Welcome to the RPS Blog!

This blog is dedicated to providing relevant, critical and timely information about retirement plans and ERISA changes. We provide information you need to help you stay compliant, up-to-date with the retirement industry, and ways to maximize your plan's design. The retirement planning industry is constantly changing, in this blog we will keep you ahead of the change, and aware of the impact it might have on your business. 

Read this blog if you are a:

  • Financial advisor
  • Plan sponsor
  • Business owner or administrator
  • Service provider
  • Involved in the retirement plan industry
  • Interested in the retirement plan industry

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