Open Enrollment: Making the Most of Employee Benefits
Open Enrollment season is upon us, and for many employees, it is time to enroll in company benefits for the upcoming year.
Open Enrollment season is upon us, and for many employees, it is time to enroll in company benefits for the upcoming year.
Since the SECURE Act passed in December of 2019, several clients have reached out regarding the so-called “10 Year Rule” which stipulates all retirement assets must be distributed to certain beneficiaries within 10 years of the client’s passing.
Even when the economy isn’t closed due to a pandemic, many employers find meeting their contribution obligations to their employer-sponsored retirement plans a challenge to honor. Employers will need to start looking at ways to free up cash and reduce overhead while we wait and hope for revenues to start flowing in again.
Unless you own or operate a financial services company, giving out financial advice is probably way outside the scope of your usual responsibilities. But your employees need help, particularly those who have been impacted financially by the pandemic. So, what can you do?
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