The financial world is notorious for acronyms and vocabulary thrown out in general conversation with the assumption all know what they mean. “ Benchmarking a plan” is exemplary of this situation. The term/phrase is used frequently and often times the individual responsible for the 401(k) retirement plan has no idea what it means. Benchmarking your… Read More
On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings. Although these adjustments won’t bring any major changes, there are some minor elements to note. If you have any questions, reach out to us at Redwood. These limits are listed at http://www.irs.gov. 401(k)s. The salary deferral amount for 401(k)s remains… Read More
Have you ever wondered what a 401(k) is but are afraid to ask? Since 401(k) retirement plans are a frequent benefit offering in today’s world, many people hear the term but are not always sure what it means. You are not alone. A 401(k) is a tax qualified retirement account offered by many employers today. … Read More
Does your employer offer a retirement plan option? Do you contribute to it? Do you understand how it works? I have experienced much confusion about a 401(k) plan. If your employer provides one, or if you are an employer considering adding one, look over this quick guide for common areas of confusion. What is a… Read More
Insurance is a common hot button for people. We know we should have it, we’re just not sure why? The life insurance conversation, while being a tough one, is a conversation that we conceptually understand. If I am not here anymore, my family needs “insert need/amount here”. The car insurance conversation is a simple one,… Read More
Providing a Retirement Plan for the employees of your business can be confusing. The responsibilities of running a business is complex enough without adding additional concerns and duties. The role of a Financial Advisor for your plan is integral in the proper running of the retirement plan. The team helping with the administration of your… Read More
As a small business owner, there is a long list of financial decisions that you need to make on a daily basis. One of the most important decisions is figuring out how you will plan your retirement and the offerings of retirement accounts to your employees. Small business owners carry the added duty of handling… Read More
As a small business owner, there is a long list of financial decisions that you need to make on a daily basis. One of the most important decisions is figuring out how you will plan your retirement and the offerings of retirement accounts to your employees. Small business owners carry the added duty of handling… Read More
Slight increases have been made due to mild inflation. You will able to put a little more into your workplace retirement account in 2018. The federal government has boosted the annual contribution limit on some of the popular qualified retirement plans thanks to inflation and made other adjustments worth noting. Contribution limits for 401(k)s are… Read More
There is no legal limit as to how many 401k plans an individual can have at any given moment. Only a plan sponsored by your current employer can receive contributions. Many people have old plans from previous employers. Too many plans can be difficult to track. Consolidation of plans, either in an employee’s current 401k… Read More