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The Caldwell Trust Company Blog

What is a Cash Balance Retirement Plan?

Posted by Tony Blasini, CPC, QPA

The right retirement plan is an essential part of your business. For some businesses, a cash balance plan makes the most sense. This hybrid pension plan combines features of a defined contribution and a defined benefit plan to provide employees a guaranteed income upon retirement.

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Topics: Retirement Plan Services

Year-End Round Up: Our Top Must-Read Posts of 2018

Posted by Kelly Caldwell

As we wrap up 2018, we can’t help but to reflect on the myriad of content we’ve shared throughout the year to help you achieve financial security. We’ve covered everything from estate planning and investing to retirement planning and even protecting your digital assets. With every resource that we create, our goal is that you receive the information, advice and resources you need to make better financial decisions for your future.

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Topics: Retirement Plan Services, Investments, Trusts & Estate Planning, Healthcare

Retirement Planning Options for Your Business: The Difference Between Cash Balance and 401(k) Plans

Posted by Tony Blasini, CPC, QPA

Today’s business owners are tasked with a significant challenge: Attracting (and retaining) the best talent while simultaneously supporting their own bottom line. One strategy for achieving both of these goals? Choosing the best retirement plan. If you’re in the process of deciding whether a cash balance or 401(k) plan is more suitable for your employees and your business, here’s what you need to know.

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Topics: Retirement Plan Services

Is a Cash Balance Plan Right for My Business?

Posted by Tony Blasini, CPC, QPA

If you are a business owner, you need to make important decisions about employee benefits that will help you attract and retain employees. Just as important, those benefits also need to make sense for your company. One type of employee benefit that may be ideal for employers is a cash balance retirement plan.

To determine whether your organization is a good candidate for sponsoring this type of plan, it can be helpful to explore it’s features, pros and cons.

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Topics: Retirement Plan Services

Building An Adequate Fund Line-Up for Your Company's 401(K) Plan

Posted by Tony Blasini, CPC, QPA

The main reason for running a 401(k) plan is to provide a way for your employees to build a retirement nest egg through tax-deferred investing. Hence, your investment options are the backbone of your 401(k) plan, and choosing the right mix of investments - known as your fund line-up - is a critical step in creating the best possible retirement plan for your employees.

Some employers may choose to partner with an investment advisor to help them build their 401(k) fund line-up. But whether you seek help or go at it alone, there are four best practices that you should uphold to effectively enhance your employees’ retirement savings.

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Topics: Retirement Plan Services

Participant Loans in Defined Contribution Plans: Key Pros and Cons for Your Business

Posted by Tony Blasini, CPC, QPA

The decision to offer participant loans in defined contribution (DC) plans is complex and requires careful consideration.

As an employer, it is commendable to want to provide a range of financial options for your employees. However, you also want to make sure that the benefits to your organization—and to your employees—outweigh the costs of such a program.

Before signing off on providing participant loans in DC plans, there are a number of things for you to consider.

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Topics: Retirement Plan Services

Profit Sharing Plan Allocations – What’s Best for My Plan?

Posted by Tony Blasini, CPC, QPA

When it comes to retirement plans, there are many choices. One option that this article will dive into today, is the “profit sharing plan” which is a type of defined contribution plan that allows businesses to provide discretionary contributions -- meaning they can decide from year to year how much to contribute (or whether to contribute at all).

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Topics: Retirement Plan Services, Investments

What You as an Employee Should Know About Retirement Plan Rollovers: Options, Steps, and Considerations

Posted by Tony Blasini, CPC, QPA

If your current or former employer offers a qualified retirement plan, such as a Profit Sharing, 401(k), 403(b), SIMPLE IRA or SEP, you can take your vested balance with you when you leave by “rolling over” the balance from your plan account to an IRA rollover account. If your rollover meets IRS requirements, the transaction will not be a taxable event and your money will continue to grow tax-deferred. Generally, rollovers must be made within 60 days of the money being distributed (unless it is a Direct or Trustee to Trustee rollover) in order to meet IRS requirements, although there are certain limited exceptions when the IRS may waive that requirement.

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Topics: Retirement Plan Services

6 Misconceptions About Retirement Best Practices

Posted by Tony Blasini, CPC, QPA

When it comes to retirement planning, many people in the workforce don’t really think about it. They put money into the 401k provided by their employer and focus on their financial needs in the moment. Unfortunately, this lack of true planning leads to a lot of misconceptions about retirement best practices. Here are seven assumptions you may be making about retirement, along with the reality you need to be aware of.

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Topics: Retirement Plan Services, Trusts & Estate Planning

Are You Losing Sleep Over Your Finances?

Posted by Tony Blasini, CPC, QPA

Would it surprise you to learn that more Americans are losing sleep over their finances now than they did during the Recession? Nearly two-thirds of all Americans (65%) are losing sleep over their money worries, which is up 3% from the financial crisis, and more than a third of those (37%) are sleepless thanks to worrying about their retirement. But planning for retirement doesn’t have to fuel your anxiety. Today’s post will give you an overview of how much you need to save for retirement, discuss planning for retirement, and share tips to help you get started.

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Topics: Retirement Plan Services

 


 

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