Articles - TrueNorth Retirement Services
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Articles

How Much Does Your 401(k) Cost Plan Participants?

As important as retirement planning is, it’s surprising that more people do not know how much their 401(k) savings plan costs them. In fact, according to a survey by the National Association of Retirement Plan Participants (NARPP), nearly 58% of plan participants do not know...

Successful Strategies for 401(k) Plan ‘Roll-Ins’

  Ensuring lifelong participation in 401(k) plans is beneficial to both plan sponsors and participants. The idea of plan ‘roll-ins’ allow previously existing 401(k) and other IRA retirement plans to easily roll into a new plan once a beneficiary is eligible in a new employer-sponsored plan....

Automatic Enrollment Increases 401(k) Participation in Small Plans

When Congress passed the Pension Protection Act (PPA) in 2006 the primary focus was on defined benefit plans designed to protect pension plans funded by employers. Defined contribution plans like 401(k) plans, however, were also largely affected by the legislation. In fact, the act created...

9 Considerations for 401(k) Plan Sponsors in 2017

With changing markets, the current political landscape, and new industry regulation, it’s important for 401(k) plan sponsors to actively manage sponsor plans. Today’s employee faces more challenges than ever before; in fact, retirement, once considered the pinnacle of financial goal-setting, is now one of a...

6 Ways to Offer Low-Cost Benefits to Employees

As a business owner you want to attract and retain the best talent possible to work for your company. Hiring employees who perform above and beyond their specific duties can greatly impact the success of your business. However, trying to compete for high-performance employees with...

5 Things to Consider During Employee Year-End Reviews

This time of year can be particularly stressful for businesses. From hitting year-end sales targets to preparing yearly financial reports, the last quarter of the year often presents unique challenges. One of those challenges is executing and utilizing year-end reviews for employees. This important yearly...

4 Things to Know About Defined Benefit Plans

1. Defined Benefit Plans Reward You for Years of Service. Defined benefit plans are pension plans that reward employees based on years of service and associated salary earned. These retirement schemes pay out a set dividend amount upon retirement for the remaining life of an employee. Alternately, defined...

What is a Cash Balance Pension Plan?

A cash balance pension plan is a type of pension plan provided by employers to employees of a company. This type of plan credits an employee’s account with a set percentage of his or her yearly compensation plus interest charges. A cash balance plan is...