Author: Matthew Baisden

2020 Retirement Plan Limits

The IRS announced the new limits for 2020 retirement savings and the amount that 401(k) participants, or participants in similar employer sponsored plans can save is increasing. Participants that are over the age of 50 and eligible for the catch-up contribution will experience an increase in Read more…

Small Business Retirement Plan Options

One of the more difficult challenges for a business with less than 5 employees is finding a cost-effective, manageable retirement plan option. Time spent focusing on a retirement plan is time spent not growing your business. But like healthcare and vacation programs, a retirement plan can help your Read more…

Are Your Retirement Plan Fees "Prudent and Reasonable"?

In 2006, Jerry Schlichter, a St. Louis plaintiff lawyer, began suing 401(k) fiduciaries.  His contention was that retirement plan fiduciaries were not properly overseeing their plans – particularly the duty to make sure fees were “prudent and reasonable.”  Read more…

Own a Business in Illinois?  You May Be Forced to Start a Retirement Plan

Small businesses are facing big changes in Illinois. In 2015, the Illinois State Legislature’s Secure Choice Act began a series of steps that ultimately led to the creation of a “State Sponsored Retirement Plan.”  Now, small businesses may be forced to become participants in a retirement plan Read more…

3(21) or 3(38): A Guide for Business Owners

Plancorp has worked with many business owners over the years to improve their corporate retirement plans. We have rarely come across a business owner who wanted more liability on their plate. Unfortunately, business owners frequently retain more than their fair share of legal liability—without even Read more…

The Top Five Benefits of Investing in a 401(k)

On average, Social Security replaces around 40% of income for retirees, and even less for high earners. So unless you’ve got a cushy pension lined up, that means the majority of your retirement income will be a result of your own planning and investing. Enter the glory of the 401(k). Read more…

The Most Common 401 (k) Mistakes People Make- And How to Fix Them

As a Retirement Plan Advisor for Plancorp, I spend a lot of my days talking to retirement plan participants about their 401(k) plans. In conversations and presentations, I get to educate participants to help them get the most of their retirement savings. Read more…

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