Employer Resource Center

Plan Documents… Save or Purge?
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Many ERISA plan sponsors are unclear regarding a primary fiduciary responsibility concerning plan document retention (which and when documents may be purged). Most plan sponsors adopt an assumed “reasonable” amount of time to retain documents prior to purging them. Unfortunately, IRS rules may not always be complicit with what may be assumed to be “reasonable”.  Read More →
Are You Hearing About Financial Wellness?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Employers have heard a lot about financial wellness. However, employers don’t always recognize the connection between financial wellness and improved retirement savings behavior as well as a more productive workforce overall. All employees, no matter what generation they belong to, want to work in a friendly environment where they don’t have to stress about their  Read More →
Consideration: Offering a Phased Retirement Program
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Phased retirement includes a range of flexible retirement approaches that would allow employees approaching normal retirement age the option to reduce the hours worked while phasing into complete retirement. For employees, a phased retirement may be seen as a benefit by many older workers. It allows them to gradually ease into retirement while maintaining a  Read More →

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