Financial Wellness Needs a Long and Short Game to Work for Both Participants and Organizations
When Does a Participant Loan Become a Deemed Distribution?
In the retirement plan industry, all too often we tend to conflate financial wellness with retirement readiness… …whether that means confidence in obtaining retirement goals or being on track to reach post-employment financial targets. However, that limited view may fail to paint a complete picture for many participants. For example, the New York Life Wealth Read More →
Retirement Income Participant Interest Surveys: A Contrarian View
For plans that offer loans, there is oftentimes confusion around when a participant loan will default, and even more so around when that loan would be considered a distribution for tax-reporting purposes. A recent IRS Issue Snapshot affirms that a participant loan is a legally enforceable agreement and terms of the loan agreement must comply Read More →
Retirement income products can serve an important purpose as a participant investment option for retirement plans. Surveys gauging participant interest in these options may be open to interpretation, especially when the survey is conducted by a retirement income vendor. A survey conducted by the well-known and respected JP Morgan gauged participant interest for a retirement Read More →