Summer days may not be lazy, but they sure do call upon you to take time to get outside, smell the roses, and be active!
While most of us are nowhere near capable of riding in a cycling Grand Tour European stage race, we can appreciate the effort, training, and teamwork that goes into these amazing multi-day rides. Indeed, I find the team approach is particularly inspiring and applicable to a quality employer-sponsored retirement plan in my article Let Teamwork Pull You to Victory.
The U.S. Treasury is also asking you to team up in its effort to help more people save for retirement. The new myRA Roth accounts may fill a void in the retirement plan space and could help get low income employees on the road to saving for the future. Learn the basic ideas behind myRA and what it means for employers in How Does myRA Impact Plan Sponsors?
Employees at nearly all income levels still need help saving more for retirement. Have you implemented auto enrollment with your plan, or are you concerned about fiduciary liabilities with the feature? Thanks to ERISA amendments in the Pension Protection Act of 2006 you can offer auto enrollment and realize safe harbor protection if you implement a qualified QDIA. Find out more in my article Ease Fiduciary Worries with a QDIA.
I hope you have a chance to get outside and enjoy some fresh air this month! Remember, when you do come inside,We are to help you help your employee participants. Feel free to contact us directly with any questions on these article topics or any other plan sponsor concerns.
