TriStar Pension Consulting

There is an optimistic prediction for the future of financial wellness! We can all agree that financial wellness is extremely important, which is why the prediction from industry experts t that nearly half (47%) of employers will offer a comprehensive financial wellness program by the end of 2026 is so incredible! Many employers cited employee engagement and retention as part of their decision to implement a financial wellness program. Read more: https://lnkd.in/d2zdxaN5 National Association of Plan Advisors American Retirement Association #FinancialWellness #SmallBusinessOwner #EmployeeRetention #EmployeeEngagement

Magical Customer Service You might think that great customer service is a thing of the past, but we are here to prove you wrong! Watch our video on why outstanding customer service is so important to us at TriStar! Shannon Edwards, Henna Patel, MHA, QKA, Connor Loch, Allyson Rentsch QKC QKA, Jessica Landmann, Lisa Schindler, Wendy Roman QKA, Lisa R. Morris, CEBS, QPA, QKA, ERPA, Anna Tovar, April Paris #401k #customerservice #smallbusinessowner #retirement #roadtoretirement #advisors #tpa

We work with small business owners everyday and have been for years. The TriStar team understands the many hurdles small business owners must cross in order to offer retirement plans to their employees. Fortunately, SECURE 2.0 has several new provisions that will help makes this simpler for small business owners as well as help them to both attract and retain employees by offering the benefit of a retirement plan! Our friends at John Hancock have put together some great resources to help small business owners and financial professionals navigate retirement planning and getting started. Explore those resources here: https://lnkd.in/ge6ZZkaP #retirementplanning #smallbusinessowner #employeebenefits #retirementsavingsSee less

The IRS is providing guidance on certain exceptions from the 10% additional tax when taking early permissible retirement plan distributions for emergency, personal, or family expenses and for survivors of domestic abuse. This was added by the SECURE 2.0 Act of 2022, and the provisions became effective on January 1, 2024. It defines emergency personal expense distributions, including what’s an unforeseeable or immediate financial need, and describes the limits (amount and frequency) of distributions. In addition, the notice defines domestic abuse victim distributions, including a definition of domestic abuse. Get more details here" https://lnkd.in/ggBsXUd4 #retirementplan #distributions #IRS #family

SECURE 2.0 Q & A 🌟 Wondering how to correct those tricky deferral errors for plans with automatic enrollment features? We've got you covered! SECURE 2.0 expanded the favorable correction method already available under EPCRS for correcting deferrals in plans with automatic enrollment to permit the 0% QNEC for deferrals to apply for terminated employees as well (recall that 100% of any associated match would still be owed, of course). The notice provides several clarifications: 👉 This expansion applies to errors for which the deadline for correction is after 2023 (which generally means it generally is available for errors that occur in 2023 or later). 👉 Deposit of any missed matching contribution generally must be made by the last day of the 6th month after correct deferrals begin. Drop us a comment below if you found this helpful! #401kplan #smallbusiness #consultingservices #retirementplan

Happy 4th of July from the TriStar Team!

Customizable 401k Plans - it doesn't get any better than that! One of the services that TriStar Pension offers is the ability to customize certain 401k plans. For example, you could choose a plan that allows after-tax deferrals. National Association of Plan Advisors put together an article detailing the advantages of personalized 401(k) strategies here > https://lnkd.in/gZHNkUgJ #retirement #ConsultingServices #RetirementPlan #ConsultingFirm #CustomerService #SmallBusiness #401kplan

Are you one of the many US workers looking to lawmakers to address Social Security’s funding shortfall? According to the survey report by Transamerica nearly 6 in 10 (58%) workers want the President and Congress to take steps to shore up Social Security in order to help people have a financially secure retirement. National Association of Plan Advisors American Retirement Association https://lnkd.in/g-gvK65m #socialsecurity #congress #secureRetirement

The weekend is almost here! Summer weekends are often jam packed with hanging by the pool, having fun at the lake, or finding a nice cool place indoors to relax. If you find yourself with some free time to read this weekend we have included a few retirement industry articles that have been in the news recently. 📗https://lnkd.in/e64bqvRC 📘https://lnkd.in/gYd7MTWq American Society of Pension Professionals and Actuaries National Association of Plan Advisors #RetirementPlanning #Retirementsavings #401k

It's back by popular demand: SECURE 2.0 Q & A! 401(k) Plans are considered “established” when the plan terms providing for 401(k) deferrals are initially adopted — even if the effective date of the 401(k) feature is later. For example, if an employer adopted a new plan on December 1, 2022, with the 401(k) feature effective on January 1, 2023, that plan was “established” before December 29, 2022 and therefore is exempt from the mandate. If you have any questions you would like answered send us a message and we would be happy to share our knowledge with you. #KnowledgeIsPower #educate #retirment #401k