Are You Responsible For Your Company’s 401K Plan?

on March 20, 2018 No comments

Offering a retirement plan to your employees is a great benefit and responsibility. If you have the role in your company that oversees the company 401k plan, then you may not realize what responsibility you have.  By making decisions about your 401K, you have a responsibility to the participants in the plan. We want to take a moment to outline some of the components of a retirement plan and the role fiduciary responsibility.

Elements of A Retirement Plan:

  • A written plan that describes the benefit structure and guides day-to-day operations;
  • A trust fund to hold the plan’s assets;
  • A recordkeeping system to track the flow of monies going to and from the retirement plan; and
  • Documents to provide plan information to employees participating in the plan and to the government.

When it comes to being a fiduciary in a retirement plan, many of the actions involved in operating a plan make the person or entity performing them a fiduciary. Using discretion in managing a plan or controlling the plan’s assets makes that person a fiduciary to the extent of that discretion or control. Providing investment advice for a fee also makes someone a fiduciary. So, a person’s fiduciary status is based on the functions performed for the plan, not just a person’s title.

To learn more about being a fiduciary on a retirement plan, click here.

In addition, our team is willing and able to answer your questions about your company’s retirement plan strategy and to help you create a plan that is successful. If that’s you, let’s talk.


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Jase TeamAre You Responsible For Your Company’s 401K Plan?

Optimizing Your Retirement By Maximizing Your Social Security Claims

on March 6, 2018 No comments

When considering their retirement strategy many people focus on their investments, retirement plans and their assets. Social security is one of those components of retirement that can be overlooked, but that could be a mistake.

Social Security is a very important component of retirement income for many retirees.  It can also be confusing.  Does it make sense to begin drawing Social Security as soon as you are eligible?  Should you wait until your Full Retirement Age?  Is it best to wait until 70 to begin claiming Social Security?  Can my spouse begin their social security even if I don’t begin taking mine?

In addition to these questions there could be many more.  The reality is that the right retirement strategy for you is determined on a case-by-case basis. We have worked with many families facing these questions and through a planning process we explore the options available to them and provide guidance on their social security claiming strategy.

If you want to learn more about your retirement strategy and how to maximize your social security, contact our team. We’re here to help!


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Jase TeamOptimizing Your Retirement By Maximizing Your Social Security Claims