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For part-time workers, saving for retirement can be a challenge. Many part-time employees are often excluded from 401(k) plans because they often don’t meet the plan’s eligibility requirements. This includes many students,...

Have you ever thought about what kind of golf partner best suits your game? Maybe you have an upcoming member guest or are considering joining a local four-ball league this summer? Turns out picking a golf partner is a lot like...

To compete for top talent, companies are looking for innovative ways to stand out in a competitive labor market. Employees are looking for beefed up benefits that support their social, physical, mental and financial well-being. Creating...

In late May 2023, Congress sent a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel saying that it will introduce legislation to correct several technical errors in the SECURE 2.0 Act. The letter, signed...

Financial education is becoming increasingly important in today's world, but is it worth the company's time and resources to provide such a service? Helping employees reduce financial stress can help improve wellness, retention and...

While fixed annuities are generally considered to be conservative instruments, variable annuities are investments with the growth potential necessary to outpace inflation, but generally carry a higher degree of risk.

Bank of America's Workplace Benefits Report recently revealed that a whopping 19 in 20 surveyed employers felt responsible for their employees' financial wellness.1 But because financial wellness is such a holistic concept,...

Retirement is a significant milestone in one's life, which requires careful planning and foresight to pursue a confident and stress-free transition. One effective way to plan for retirement is by adopting the Retirement Bucket Strategy.

Life insurance is essential in providing for beneficiaries upon your death, but it can also offer other tax advantages you may not know. For this reason, whole life insurance, also called cash value life insurance, is often used as a...

Retirement plan fees can take many different forms, making it difficult to determine whether they're reasonable. In this article, we'll discuss why fiduciaries need to pay careful attention to fees and how benchmarking can help you make...

Selecting and monitoring investment options for your company’s retirement plan is just one part of your fiduciary responsibility. How do you evaluate, benchmark and assess your plan and what other expertise or protection should you consider

Retirement plans can be as unique as your company and its employees. Yet many committees do not take the time to set specific goals for their plans. Without defined goals, it can be difficult to create an effective retirement plan that...

While retirement is a time to enjoy the things you have worked hard for in life, the next chapter may leave some a little anxious. Retirement doesn't mean you have to retire from the excitement in life.

March is Women’s History Month, a month-long celebration of female empowerment1. This effort includes advocating for better representation in the workforce, pay parity and improved work-life balance. There are some specific steps that women

As a retirement plan sponsor, you are a valuable member of a team that includes your recordkeeper, third party administrator (TPA), financial wellness provider and retirement plan advisor. Each member must uphold their roles and responsibil

Learn what to expect when changing recordkeepers to avoid unpleasant surprises.Change can be exciting but is sometimes stressful. However, transitioning to a new 401(k) recordkeeper shouldn’t be a taxing experience. In this...

Entrepreneurs tend to be natural risk-takers but this doesn't mean committing to uncompensated risk. A wise entrepreneur considers their potential exposure before leaping into a new business venture, moving forward only on those...

After a lot of excitement, Congress finally passed the Consolidated Appropriations Act which included several new retirement plan legislations. The SECURE 2.0 and other provisions strive to expand access to retirement plans, increase

Take some time this month to learn about the contributions of black businesses, inventors, and activists throughout America's history. Some of the most powerful statements can be made by aligning your finances with your values.

Improving return by minimizing taxesAlthough we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...

Bank of America's Workplace Benefits Report recently revealed that a whopping 19 in 20 surveyed employers felt responsible for their employees' financial wellness.1 But because financial wellness is such a holistic concept,...

Points to think about as you contemplate giving to others and causes. Any endeavor worth undertaking, especially one that may affect others, deserves our careful consideration before we begin. When contemplating charitable giving,...

A financial wellness program can be an extremely valuable benefit, learn how it can help employees reduce stress while improving workplace productivity.

You don't need to wait until the end of the year to look for ways to minimize your tax liability. Tax planning should take place throughout the year to have you prepared well ahead of tax season. Here are six ways to minimize your tax...

If you're considering giving back to society or a cause as part of your financial planning, there are many ways you can do so. You can make an impact while receiving tax benefits by including philanthropic giving as part of a holistic...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances

As you near age 65, you may start to think about Medicare. How do you sort through your coverage options? When (and how) do you enroll? And what if you have other health insurance? Here is some information to help you

Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of...

You're about to receive a distribution from your 401(k) plan, and you're considering a rollover to a traditional IRA. While these transactions are normally straightforward and trouble-free, there are some pitfalls you'll want to avoid...

According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for the 2021-2022 school year was $10,740 for in-state students and $27,560 for out-of-state...

A beneficiary is the person or entity you name (i.e., designate) to receive the death benefits of a life insurance policy. Some states require that your beneficiary have an insurable interest in your life or be related to you (at least...

The team at SCS recently had a team outing where they made their way to T-Mobile Park for the Wednesday night game. The Mariners and the Yankees battled it out, but in the end our very own Mariners took the win with a score of 4-3. It...

Financial capacity – the ability to manage your finances in your own best interest – involves everything from paying bills to reading a brokerage statement and weighing an investment's potential risks and rewards. And...

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of...

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. And asset allocation and diversification alone cannot guarantee a profit or eliminate...

In golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying lessons from the golf course to your financial life...

The need for regular saving and investing spans many life stages. Through the years, your goals will change and your strategies will shift, but don’t be alarmed. You’re just progressing through the normal stages of life,...

A bear market is officially here thanks largely to stubbornly high inflation. For many of us, it has probably felt like a bear market for a while now, but the S&P 500 Index didn’t close more than 20% below its January 3 record...

It’s important to be task driven at work, but your mental and physical well-being should never suffer because of your daily tasks. Here are some questions worth asking yourself during a work day.How are you fueling your body?A...

If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to...