As Americans continue to be inundated with the COVID-19 pandemic, many can’t help but look at their 401(k) plan and ponder what to do. From an investment standpoint, financial professionals are consistently preaching long-term investing practices and for investors to not panic by selling stock positions during a valley. Many investors may be pondering how they can possible take advantage of the current bear market? One option that does deserve a look is the concept of an in-plan 401(k) Roth conversion.

We expound in this post.

For Plan ParticipantsApp AdminApril 1, 2020From Jerrod, COVID-19Comment

Stimulus Package and 401(k)

On Friday, March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a massive relief bill for those suffering as a result of the Coronavirus pandemic.

First, the CARES Act relaxes the restrictions in defined contribution plans for plan participants and their beneficiaries to access their funds if needed to assist them in this difficult time. The Act refers to “qualified individuals”. We dissect the fine print of the CARES Act in this blog post.

For Plan ParticipantsApp AdminMarch 30, 2020COVID-19, From BonnieComment

Should I Increase my 401(k) Contribution?

It has certainly been a different year for all of us.

The COVID-19 pandemic we are experiencing has impacted countries, governments, businesses and markets. On an individual level, many Americans also looking at the impact of COVID-19 on their 401(k) retirement savings.

History has always shown that we will rebound, as our resiliency is second only to our resolve. Read more to find out why now is a good time to increase 401(k) contributions.

For Plan ParticipantsApp AdminMarch 30, 2020COVID-19, From JamesComment

IRS Tax Extension: What you Need to Know

The IRS updated its website to indicate that it has extended the 2019 deadlines for making contributions to workplace-based retirement plans, IRAs, and health savings accounts to July 15, 2020.

These extensions are in accordance with IRS Notice 2020-18, which extended the deadline for filing federal income tax returns from April 15 to July 15. Find out more in this blog post.

For Plan ParticipantsApp AdminMarch 26, 2020COVID-19, From BonnieComment

Making 401(k) Changes in 2020

As both a nation and a global community, we are learning together to navigate uncharted waters as COVID-19 spreads further around the world.

We are all dealing with financial unknowns as we adapt to the new environment of social distancing for the short-term future.

Many of you have questions regarding the ability to fund required contributions in your 401k Plan.

Find answers in the post.

For Plan Participants, For AdvisorsApp AdminMarch 17, 2020COVID-19, From Michael, Market FluctuationComment

How Does the Coronavirus Affect Your 401(k)?

On March 9th, 2020, many Americans started the day wondering how, and if, the Coronavirus (COVID-19) pandemic would affect their 401(k) plan. As panic continues to spread further, the financial markets have been experiencing extreme volatility, which caused a market-wide stock trading circuit breaker to be triggered for the first time since 2008. Per the SEC market volatility regulations, the stock trading is halted for 15 minutes once the S&P 500 Index drops below 7%.

Let’s explore what effect the Coronavirus pandemic and the pandemic’s influence on the market will have on your 401(k) plan.

For Plan Participants, For Plan SponsorsApp AdminMarch 10, 2020COVID-19, From JerrodComment

Roth 401(k) vs. Traditional 401(k)

Though Roth IRAs had been available since 1997, it wasn’t until 2006 that the 401(k) Roth contribution option was made available to all 401(k) plans. At that time, there was a rush to add the Roth 401(k), and in many cases, it even became the primary funding type for a large percentage of 401(k) plans. The reason for this rush toward Roth 401(k)s was the thinking that taxes were at a historical low and they were likely to increase in the future.

For Plan ParticipantsApp AdminJanuary 27, 2020From Dennis, Plan DecisionsComment

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