It’s clear, then, that there’s a problem. In order how to best come up cure for Covid-related leakage, we have to zero in on exactly when the trouble lies.
Tag "CARES Act"
Just as these changes come bearing down, so, too, does a need for greater hand holding. Pressures within the provider industry, however, appear to be reducing the number of available hands.
What’s the Goal? Last I heard it was preparation for retirement via tax preferred savings … but, looking around at what is typical industry practice, perhaps I have it all wrong.
Because things happened so fast, everyday folks could see in real time how long-term financial systems unfold. In the end, this may have been the greatest lesson of all, and it came courtesy of living in the real-world economic laboratory that was 2020.
Here’s something you don’t always see, but maybe you should.
Perhaps the first option to focus on is that one that involves “paying back” or “not paying back.” The rules, while straightforward to financial professionals, may be less apparent to retirement savers.
The good news is 401k plan sponsors don’t need to treat this as a solo act. They’ve already got a team of hired hands to help them.
This isn’t free money. It comes at a price. Many naïve folks might be salivating at the prospect of releasing these big bucks from the prison of their retirement plan… until they read the fine print.
What’s the biggest challenge for those responsible for administrating their company’s 401k plan while working from home? How is that challenge best overcome?
