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How Many Investment Options Should You Offer? May 28, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
How Many Investment Options Should You Offer?
Many plan sponsors struggle with deciding how many investment options to offer in their retirement plans. While people generally like to have lots of options when making other decisions, having too many plan options can potentially lead to poor investment decisions by plan participants. In addition, increasing plan options can also increase plan costs, as […]
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Loss Aversion and Fighting Fear April 22, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Loss Aversion and Fighting Fear
Loss aversion sounds like a good thing — trying to avoid losing. What could be wrong with that? Unfortunately, if taken too far, it can actually be a threat to retirement plan participants’ long-term financial health. Loss aversion is the tendency to prefer avoiding potential losses over acquiring equal gains. Essentially, we dislike losing $20 […]
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Visualize Retirement – What Are Your Participants Saving For? March 21, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Visualize Retirement – What Are Your Participants Saving For?
All too often, retirement planning success is measured purely by financial metrics: savings amounts (15 percent per year), income replacement ratios (75 percent of pre-retirement income), or withdrawal strategies (4 percent per year). And the most critical part of planning for retirement is forgotten: the plan itself. Put another way: how can an employee know […]
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Effective Employee Education February 25, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Effective Employee Education
Fiduciary duty requires you to provide your employees and participants with educational opportunities so they can make informed investment decisions.  It’s not always easy to know what your participants need, want or will take advantage of.  Using a simple framework for your educational program may increase the effectiveness of your program. Provide a consistent, ongoing […]
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Hey Joel! – Answers from a recovering former practicing ERISA attorney January 22, 2019 by BerganKDV Team
Hey Joel! – Answers from a recovering former practicing ERISA attorney
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Will hardship suspensions go away in January 2019? If someone takes a hardship today, do we stop the suspension on Jan. 1, 2019? ~ Anxious in Alabama Dear Anxious, First, understand […]
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Records and Their Expiration Dates January 22, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Records and Their Expiration Dates
“What records should I keep? How long should I keep them? How should I organize my files?” Advisors have been asked these questions time and time again by plan sponsors looking for a general guideline for record expiration dates. Record retention doesn’t need to be a mystery, and the filing system doesn’t need to become […]
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Six Easy Steps to Keep Your Plan Assets Safe January 22, 2019 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Six Easy Steps to Keep Your Plan Assets Safe
Joel Shapiro, JD, LLM, Senior Vice President, ERISA Compliance Cyber fraud is a growing concern globally. Individuals are typically very careful to keep their bank account and email authentication information safe, but they aren’t always smart with the rest of their personal information. Participants need to be vigilant with their retirement savings accounts as well. […]
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Exchange Your Old Retirement Solutions for New Ones December 12, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Exchange Your Old Retirement Solutions for New Ones
Jonathan Coombs, Investment Analyst What is an Exchange? An exchange is a turnkey solution for businesses that allows you to provide the benefit of a retirement plan while offloading some of the administrative and fiduciary responsibilities at a potential cost reduction. A team of professionals work together on your behalf so you can focus on […]
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Hey, Joel! Answers from a Recovering Former Practicing ERISA Attorney November 9, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Hey, Joel! Answers from a Recovering Former Practicing ERISA Attorney
  Hey Joel, Can I avoid an audit by splitting my employees into two plans?  ~ Fingers Crossed in Florida Dear Fingers, There are some organizations out there promoting this approach. Here is the problem: There is no regulation indicating a situation in which two separate plans would be acceptable so you can avoid an […]
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Don’t Let Your Retirement Plan Turn from Benefit to Liability November 9, 2018 by Featured by RPAG, brought to you by BerganKDV Wealth Management
Don’t Let Your Retirement Plan Turn from Benefit to Liability
  A retirement plan is important to your business — and to all the employees relying on it for income later in life. However, mistakes and confusion can turn retirement plans from an attractive benefit into a liability. A properly administered retirement plan avoids unnecessary costs and administrative problems, and ultimately mitigates liabilities for plan […]
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