Focus Your Efforts on Revenue Generation
The 401k Source Blog
by 401kBoiseStaff
1y ago
Why not minimize the effort your organization puts into non-revenue generating activities.  Specifically I’m talking about your 401k.  With technology the way it is today, you can automate your 401k, integrate it with your payroll services so that your organization has almost no administrative burden.  The Time and effort that used to go into administering your 401k can now be focused on revenue generating activities.   Here at The 401k Source, we believe a 401k should be easy to administer, inexpensive to operate, utilize high-quality market tracking investment optio ..read more
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Take 15 minutes to Start Building Your Child’s Future
The 401k Source Blog
by 401kBoiseStaff
1y ago
Have you ever wondered how to set-up a college savings account for your child’s future? Do you even know where to go to set-up a college savings account for your child’s future? Setting up a college savings account, also referred to as a 529 College Savings Account, is the foundation to building your child’s future. In as little as 15 minutes you can set-up a 529 College Savings account for your child. With the price of college tuition increasing on what appears to be a daily basis, it’s no wonder parents are intimidated at the thought of even starting a college savings account for their chil ..read more
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To Match, or Not To Match, That Is The Question!
The 401k Source Blog
by 401kBoiseStaff
1y ago
When it comes to company retirement plans, not all plans are the same. Although some advisers prefer to use a cookie-cutter approach to setting up retirement plans, each plan has the ability to establish its own guidelines. Some plans might allow participants to take loans out, some plans allow new employees to rollover their old 401k account from their previous employer into the new company plan, plans have different rules on how employees can access their accounts, and some plans might require new employees to wait 1-year before becoming eligible whereas other plans only require 30 days. Th ..read more
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Reduce Your 401k Plan Fee’s–Improve Your 401k Plan Performance
The 401k Source Blog
by 401kBoiseStaff
1y ago
As the plan sponsor, you need to be aware of your fiduciary responsibilities when it comes to your company retirement plan. Doing what’s in the best interest of your employees includes things like eliminating conflicts of interest, providing a plan that has a diverse selection of investments, monitoring all of the service providers involved with your plan (financial adviser, record-keeper, third party administrator, etc.), and keeping the plan fees reasonably low, just to name a few. It’s a lot of work to implement a company retirement plan, but it can be a huge benefit when done correctly. T ..read more
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Financially Educated Employees are Better Employees!
The 401k Source Blog
by 401kBoiseStaff
1y ago
Providing company benefits is a must in many industries. Employees of today are more concerned than ever that they will have good company benefits to go along with a good company salary. One way for you to do this is to offer sound financial education and coaching for your employees. Putting your company 401k out there for employees to consider is one thing, but then helping them understand and recognize its benefits is a completely different thing. It might not be as bad as handing your 15-year old child the car keys without any drivers training education, but it’s close. It is our opinion t ..read more
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Improve Your Company 401k With Automatic Plan Enrollment
The 401k Source Blog
by 401kBoiseStaff
1y ago
Automatic plan enrollment has proven to be one of the most, if not the most, effective tool towards improving the overall strength of a company retirement plan. Being that it is normally free to set-up, and once in place it is completely automated, it also makes the most sense. Companies everywhere are looking for ways to improve benefits, while at the same time reduce expenses. Implementing automatic plan enrollment will help strengthen your plan by increasing participation and increasing financial awareness, which hopefully leads to a more productive employee. Although it has proven its eff ..read more
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Why Automate Your 401K
The 401k Source Blog
by 401kBoiseStaff
1y ago
In today’s 401k world, the focus is on integration and automation. With that being said, how does integration and automation actually affect your business, and should you even consider it as an improvement?  It’s our opinion at The 401k Source, that automation and integration of your 401k is a necessity. This is especially critical for small businesses with highly utilized staffs. Outsourcing this responsibility is not only less expensive, but it also lessens the liability to you, and to your business. What this means is that your 401k Record-keeper is now able to integrate with your pay ..read more
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