Topic: Retirement Plans

Financially Preparing for Retirement 

New studies continuously show that the American workforce is inadequately preparing for retirement. These go on to claim that poor retirement preparation adds to an employee’s financial stress. Further, the combination of these two factors is impacting employee work productivity, resulting in costs to employers. Are these studies accurate? If so, what can be done to improve the situation? This white paper from Newport explores what is driving retirement preparation in America and the reasons behind financial stress in the U.S. workplace.
 

2021 IRS Plan Limits

Each year, the Internal Revenue Service publishes updated dollar limitations for tax-qualified defined benefit and defined contribution plans. The limits are important for tax-qualified plans, as well as many non-qualified plans.

The CARES Act Effect on Retirement Plans 

Plan Sponsor and Advisor Webinar
April 8, 2020

How The CARES Act Impacts Retirement Plans

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed on March 27, includes several provisions intended to loosen restrictions on and reduce the tax consequences of distributions and loans from retirement plans.

Year-End Testing Results: Did Your Plan Pass or Fail?

Each year, 401(k) plans must pass certain tests to ensure that plan contributions stay within permissible limits. When you receive your plan’s testing results for the 2019 plan year from Newport, your report will show a pass or fail score for each test or limit. If your plan failed one or more tests, you can easily change the score by taking corrective actions such as refunding contributions to higher paid employees or making additional contributions for lower paid employees. 

An Analysis of the SECURE Act

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was enacted. The SECURE Act is the most sweeping retirement legislation since the Pension Protection Act of 2006, and many of its provisions are designed to make retirement plans more accessible to employees and less cumbersome for employers.
 

Aligning a Plan Sponsor’s Business Objectives and Plan Design

Assessing plan design is not only important when establishing a plan, but as part of ongoing annual reviews. Taking time to evaluate the plan sponsor’s goals each year can help pinpoint plan features that are no longer aligned with your clients current needs.

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services.
Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and wholly owned subsidiary of Newport Group, Inc.
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