Month: August 2019

SRP October 2019 Plan Sponsor Webinar

Transform Tomorrow: Awakening the Super Saver in Pursuit of Retirement Readiness

Join us on Wednesday, October 19th at 10:00 AM PT/11:00 AM MT/12:00 PM CT/1:00PM ET. Click here to register!

Explore the fundamentals of a society that is grossly under-saving for retirement, the primary forces that are contributing, and the fundamental shift needed to get us back on track. Stig Nybo, will share lessons learned from the writing of “Transform Tomorrow: Awakening the Super Saver in Pursuit of Retirement Readiness;” on how to change saving behavior.

America is facing a monumental “retirement readiness” challenge that can only be overcome by changing the way America thinks about saving for retirement. We will begin by investigating why so many Americans are at risk of outliving their savings and the three critical forces impacting Americans’ preparedness: Longevity; Consumerism; and Leverage. Then move to the solutions that strive to help bring about the changes needed for individuals to reach a secure retirement: New system‐wide contextual drivers; baseline financial literacy: and renewed beliefs around saving vs. spending.

Throughout the presentation, Stig incorporates stories to illustrate key points and uses captivating examples from history to bring the message to life. He borrows from the wisdom of Gandhi, Walt Disney, Mark Twain, Margaret Mead, and even Robin Williams in the Dead Poets Society to make his point. Come enjoy a sobering, yet enjoyable session that aims to change the way you think about planning for retirement.

SRP September 2019 Plan Sponsor Webinar

Equipping Organizations to Win the War for Talent

Join us on September 11, 2019 at 8:30 AM PT / 9:30 AM MT / 10:30 AM CT / 11:30 AM ET. Click here to register.

Tom Chisholm, Managing Director Fulcrum Partners Chicago, and other senior members of the Fulcrum Partners team, will present: “Equipping Organizations to Win the War for Talent.” This insightful overview examines how nonqualified deferred compensation fits into the total rewards strategy of successful organizations.

With 13 offices, coast to coast and over $7 Billion in assets under management, Fulcrum Partners is one of the nation’s largest and leading executive benefits advisories. Wholly member owned, the firm functions independently, flexibly, and responsively. Fulcrum Partners’ clients include medium to large, publicly- and privately-held companies, many that have been clients of the firm’s managing directors for decades. Fulcrum Partners is an Independent Member of the BDO Alliance USA.

What you need to know from the NAPA Fly-In

NAPA’s D.C. Fly-In Forum, was held in July. In its seventh year, the Fly-In is a unique experience for retirement plan focused advisors who are looking to have an impact and engage with key federal policy makers as you advocate for legislative and regulatory policy that affects America’s retirement. Again this year, a number of SRP’s Managing Directors were in attendance.

Here are a few key take-aways from the sessions:

  • State and Local Retirement Policy Update: States like Nevada, New Jersey, and Massachusetts are stepping in to create fiduciary rules, since the DOL rule was vacated.
  • Retirement Plan Lawsuits in 2019: Discussion on the current wave of litigation, such as SDBA, higher education plans, stable value, and rollovers.
  • Tackling the Gig Economy: How to provide benefit coverage for the growing group of those engaged in non-traditional work and the challenges that these benefits may pose for employers.
  • Working with Your Clients and Student Loans: In an era where student loan assistance is one of the most asked about benefits for new employees, this session covered the innovative ideas to help those struggling with student loan and other consumer debt coming from employers, the industry, and Washington, DC.
  • Regulatory Roster: A regulatory agenda update from the DOL covering a wide range of topics such as modernizing participant communications, lifetime income options, missing participants, a forthcoming new proposed fiduciary rule, and plan audits.
  • A Federal Solution to Retirement Access with Rep. Richie Neal (D-MA), Chairman of the House Ways & Means Committee: Rep. Neal shared information on the SECURE act’s progress through capitol hill and how it is proposed to impact retirement savings.

For more information about any of these topics, please contact your SRP Managing Director.

Market Volatility Update

The market has been experiencing some volatility lately, with the DOW recently dropping about 800 points. When this happens, it is disconcerting to investors, both those with a long-time horizon and those with a short one. Particularly to those with a short time horizon.

When it comes to your employee’s retirement plan, it is important that we keep their horizon in mind when discussing any moves that should or should not be made in light of a market correction. Often looking at market moves in this context helps to calm investors down and make fact-based choices vs. emotional ones.

What is causing this current downward move in the market? Certainly, the ramped-up trade war with China has impacted the way the market is looking to the future as well as global unrest, the yield curve and political turmoil here at home. However, corporate earnings and employment remain strong, wages are rising, and the Fed seems to not be over reacting. All of this should help the economy and hopefully soften any correction. With all of this said, the market has had a strong year and corrections are a part of the natural cycle of market growth. Some market pundits believe that volatility and the China trade issues may continue to the next election.

We will continue to monitor your plans investment line up and watch for any signs of trouble. As retirement plan advisors, our goal is to provide you and your employees with the tools and investments to succeed over a long-term, and as such, we search for quality and consistency when providing investment options. By providing a well-diversified line up and the appropriate asset allocation/target date funds, we strive to give you and your employees the tools to save towards a successful future.