Accessing Retirement Funds Early: A Guide for Employer 401(k) Plan Participants 
by Boulay
Retirement accounts are like a financial safety net meant to provide for the golden years. However, life often throws unexpected financial curveballs, and there may be situations where accessing these funds before retirement becomes a necessity. Knowing the options available for early withdrawal and understanding their implications is imperative. As retirement plan sponsors help their …
by Boulay 
The Importance of Beneficiary Designations in 401(k) Planning 
by Boulay
Download PDF When it comes to retirement planning, it’s easy to overlook the importance of beneficiary designations. However, deciding who will inherit your 401(k) and other financial assets is a crucial step in securing your legacy. In this article, Meghan Hannon, CRPS®, Senior Retirement Plan Manager, explores the benefits of naming beneficiaries and how it …
by Boulay 
Fiduciary Duties in an Employer 401(k) Plan: Choosing Between Passive and Active Investments 
by Boulay
Mandated by the Employee Retirement Income Security Act of 1974 (ERISA), the selection and monitoring of retirement plan investments demands careful attention and decision-making. The ‘where’ of investments isn’t the only focus of plan managers; active versus passive investment fund management is another consideration in an employer 401(k) plan. In this article, Meghan Hannon, CRPS®, …
by Boulay 
Utilizing Nonqualified Deferred Compensation Plans to Boost Executive Benefits 
by Boulay
Many employees consider qualified retirement plans, such as an employer 401(k) plan, a vital component of their financial future. However, for highly compensated executives (HCEs), these plans sometimes fall short in providing adequate retirement income. Nonqualified Deferred Compensation (NQDC) plans offer an alternative solution, allowing for pre-tax income deferral beyond the limits set by qualified …
by Boulay 
Maximizing Retirement Savings for Highly Compensated Employees in 401(k) Plans 
by Boulay
401(k) plans play a pivotal role in retirement planning for American workers, offering a valuable tactic to save for the future. However, for highly compensated employees (HCEs), navigating the path to retirement readiness within an employer 401(k) plan can be challenging due to regulatory constraints. In this article, Meghan Hannon, CRPS®, explores a problem-solving framework …
by Boulay 
Guidelines for Target-Date Fund Glide Paths 
by Boulay
For many people, planning for retirement may feel like navigating to a far-off destination with no map packed. There’s a clear end goal in mind, but winding paths and obstacles may make the journey more difficult than it needs to be. Fortunately, many employers offer certain benefits that help their employees navigate this journey and …
by Boulay 
What is the Role of a Retirement Plan Committee? 
by Boulay
As a plan sponsor, you have a fiduciary responsibility to act in the best interest of your plan participants and ensure prudent management of your plan. However, employer 401(k) plans have many moving parts and involve numerous decisions, which is a lot for one person to manage alone. Many plan sponsors decide to establish retirement …
by Boulay 
Helping Employer 401(k) Plan Participants with Financial Decision-Making 
by Boulay
Over the past few years, we’ve experienced our fair share of financial uncertainty. Whether in the stock market, labor market, or even the supermarket, most of us have felt financial stress on some level. Recent market volatility and inflation add even more uncertainty to already-complex investing and retirement decisions. If you’re an employer, you’ve likely …
by Boulay 
Adapting Your Financial Wellness Program to the Needs of Your Workforce 
by Boulay
In our recent article, we discuss how financial stress of American workers is on the rise, and how employers are implementing financial wellness programs to combat the stress of their valued employees. John Hancock’s 2022 study of stress, finances and well-being[1] demonstrated that such programs are not only effective for reducing employee stress, but may …
by Boulay 
Financial Wellness Programs: What Employers Need to Know 
by Boulay
Since the beginning of the pandemic, financial stress of the American workforce has been on the rise. Continued uncertainty and new factors, like inflation, only add to this stress. To combat the financial stress of their employees, many employers offer financial wellness programs. But what are these programs, why are they important, and how do …
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