Household Budgeting Worksheet
When employees have proper financial wellness education, they can develop the mindset to see the long-term impact of their savings decisions. It all starts with something as simple as budgeting, the cornerstone of good financial habits.
Share this ‘Ultimate Household Budgeting Worksheet’ with your employees to help them learn more about their spending habits, identify their wants and needs, and begin to prioritize savings.
401(k) Matching Formulas That Could Boost Participation Without Breaking the Budget
Offering a retirement plan shows your employees that you are committed to helping them save for their future. A matching formula is a great way to give a little bit more to your employees and increase contributions!
There are many matching formulas that can boost contributions and won’t break your bank or budget. Here are three to consider:
• Safe Harbor
• Graded Vesting
• Cliff Vesting
In this guide, you will gain insights about these three formulas, their advantages and eligibility requirements.
Q3 Guiding Light Retirement Newsletter
The first half of this year has been like nothing we have ever seen before --from record high employment to record unemployment, stimulus packages, the CARES Act, and of course the pandemic itself! As a plan sponsor, you have been thrown into the mix of adjusting and adapting to all the changes regarding your retirement plan. We can understand how challenging it has been to keep up, managing employees working from home, and trying to move forward as a company.
This is why our Q3 newsletter focuses on managing and measuring your retirement plan and financial wellness initiatives.
3 Savings Best Practices
We’ve all heard the golden rule of personal finance, “Pay yourself first.” It means putting money into savings before you do anything else. We all often need a light nudge to go the extra mile to save, and The Beacon Group is here to help! That's why we are sharing this infographic outlining three ways to stay on track with your savings.
How a Financial Wellness Program Can Improve Company Culture
Financial wellness programs can deliver significant benefits for both employers and employees. Their positive impact can result in a happier, healthier workforce and a more profitable, productive business. Here are five ways financial wellness potentially benefits your company culture:
Getting Your Ducks In a Row: Documents Adults Need
While we firmly believe life is meant to be lived, we also know that it’s important to have peace of mind in the event of an emergency. We’ve put together a detailed checklist to help you organize your life. Here's the Top 4 Important Documents Adults Need but don’t have.
Keeping Your Plan Data Safe
Cybersecurity is a critical but often overlooked aspect of a plan sponsor’s fiduciary responsibility. In simple terms, cybersecurity means protecting sensitive plan and participant data against attacks from hackers and cyber criminals.
This Plan Sponsor Guide outlines some key questions you should be asking your 401(k) service providers about cybersecurity.
Q2 Guiding Light Retirement Newsletter
With finances being the number one stressor, offering a financial wellness benefit can help!
This quarter, we’ll be sharing our insights and best practices through the following topics:
- 5 Steps to Create a Financial Wellness Program
- The Link Between Employee Productivity, Health, and Financial Stress
- Four Ways to Help Reduce Financial Stress for Your Employees
Download the Newsletter to learn more.
5 Employment Law Trends Business Owners Must Know
Each year, new laws are passed at the federal, state, and local levels of government that all employers must comply with, or face fines, lawsuits, and/or other penalties. Additionally, existing laws are routinely amended, creating even more compliance challenges for business owners to keep up with.
To help you better understand some of the biggest trends in employment legislation and compliance, we put together this E-Book that highlights 5 topics all business owners must know.
Q1 2020 Guiding Light Retirement Newsletter
The start of a new year is a great time to review your fiduciary governance process and confirm that your fiduciary priorities have been set. Preparing for the unexpected can be a delicate balancing act, but it is vital for the organized plan administration!
Our Q1 2020 Lift Retirement Newsletter covers the following topics to help you manage your fiduciary plan governance:
- Thinking About Changing 401(k) Providers? Five Things You Should Know
- 10 Steps to Help You Handle a DOL Audit
- Managing Risk: Do’s and don’ts for your company’s retirement plan committee
8 Steps Towards Managing a More Compliant 401(k) Plan
Many HR professionals and plan sponsors aren’t holding their plan to high enough standards, as is evident by the slew of 401(k) lawsuits we’ve seen over the years. That’s why we developed this white paper loaded with eight helpful steps to guide you towards managing a more compliant 401(k) plan.
The Perfect Storm for America's Retirement Plans
This eBook addresses the historical root of the problem; including fee disclosure and the blurred lines between two types of advisors, as well as new Department of Labor (DOL) regulations mandating notice to plan participants and beneficiaries.