403b

3 Tactics to Combat the “Great Resignation”
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
During the pandemic, workers quit their jobs in record numbers across the U.S. According to the Bureau of Labor Statistics (BLS), four million employees (2.7%) resigned their positions in April 2021, the largest number ever recorded since the BLS began tracking the metric in 2000. This mass exodus has been dubbed “the great resignation,” and  Read More →
Beneficiary of Unintended Consequence
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary GovernanceComments are off for this post
Upon becoming eligible to participate in your organization’s retirement plan, participants are asked to select a contribution rate, their investments, and to indicate a beneficiary designation. It may seem obvious that designating a beneficiary would be a mandatory step of the enrollment process and for many plan providers, it is. What is often less obvious,  Read More →
Three Ways to Strengthen Your Retirement Plan Committee
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Retirement plan committees aren’t required by ERISA, but they can be extremely beneficial nonetheless — especially for larger plans. And if they’re constructed and operated appropriately, they can even help in the event a sponsor is sued. Depending on the size of the plan, some organizations split up committee responsibilities into investment oversight, administration, and  Read More →

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