Informational Pieces
Retirement Articles
Helpful Web sites
Informational Pieces
Below we have provided several informational pieces, some that we have created, that may be beneficial to participants or plan coordinators.
Department of Labor Offers Retirement Planning Guide
The Department of Labor offers "Taking the Mystery Out of Retirement Planning", an easy-to-use guide to help employees discover how much they should be putting away for retirement.
Understanding 401(k) Plan Fees
It sounds easy. The U.S. Department of Labor (DOL) says that employers must ensure that 401(k) fees be reasonable. DOL says that you must understand the fees to determine if they are reasonable. It isn’t easy. Although 401(k) plan fees may be split into five basic categories, it seems that few plan providers combine them in the same way. Asset-based, per person and transaction-based: expenses combined with flat rate charges and expense ratios to equal confusion.
Most employers need a dictionary and a score card to take an unbiased look at different plan service providers. NADART has made things easier, however, by providing you with the booklet Understanding and Comparing 401(k) Plan Fees (PDF) (the booklet also includes a cost comparison worksheet). You may also contact a NADART Marketing Consultant to do the comparison for you by calling (800) 462-3278, ext. 7254 or sending an e-mail to nadart401k@nada.org.
2007 NADART Report
The 2007 NADART Report (PDF) features a letter to participants and plan coordinators from Buzz Braley, the Chairman of the NADART Board of Directors, information on returns and plan assets for the year 2007, and other information about the operation of NADART. The 2006 NADART Report (PDF) is also available for review.
Tax Credit For Lower Income Employees Saving For Retirement
Lower income employees who save for retirement may be eligible for a tax credit. Check out the Notice to Employees Regarding Retirement Saver`s Credit (PDF) to see if you qualify for 2008. If you think you may qualify for this tax credit for 2008, you will need IRS Form 8880 available on the IRS Web site.
Distribution Planning For Age 70 and Beyond
NADART plan participants who have attained the age of 70 1/2 or older and who own more than five percent of the employer's stock should understand required minimum distribution regulations. Check out our brochure - Required Minimum Distributions from Your NADART Account (PDF).
Retirement Articles
Below you can find links to informative articles about saving for retirement.
"Reluctant Retirement Savers may be Scared Straight"
This article from Marketwatch.com provides some sobering statistics on what kind of expenses one can expect during retirement, which may give reluctant savers the incentive they need to start saving.
"WARNING: 401(k) Loans are Hazardous to your Wealth"
Some NADART 401(k) plan offer loans, but those participants who are eligible for a plan loan still might want to think twice about raiding their retirement savings to meet their current expenses. This MSN Moneycentral article provides some insight.
"Sock Away That Retirement Cash, and the Sooner the Better"
This NY Times article shows that while rebalancing your retirement account is important, saving additional money can be even more important.
"The Many Ages of Retirement"
This article from Business Week Online provides information on what people should consider when choosing a retirement age and breaks down the different rules that apply for various ages.
"Think Twice Before Cashing Out Your 401(k)"
Learn why cashing out of your 401k when you change jobs can cause long-term damage to your retirement.
"Don't Walk Away From a 401(k)"
Are you taking full advantage of your 401(k) plan? This article from MSN Money shows how mistakes in how you manage your 401(k) plan (such as not signing up, not contributing enough, or cashing out your account) can cost you later on.
"Be Like Bill - Put Money in a 401(k) Now"
One of the richest men in the world still contributes to his 401(k) plan. See why you should be doing the same.
"Bankrupt Bosses Can't Touch 401(k)s"
With stories such as Enron in the news so much, many employees worry about what could happen to their 401(k) plan if the company they work for goes bankrupt. This Kiplinger`s article shows why your 401(k) plan is safer than you think it is.
Helpful Web sites
Below we have provided links to other Web sites that provide information, articles and tools pertaining to retirement plans or to retirement planning in general.
The National Financial Education Network Database for State and Local Governments
This site was developed by the National Association of Government Defined Contribution Administrators (NAGDCA) in consultation with the Financial Literacy and Education Commission's National Financial Education Network (Network). Materials are submitted by the members of the Network to provide resources on financial literacy to the general public.
401k.org
This site, maintained by the Profit-Sharing Council of America, offers calculators, articles and interactive games to help people learn about retirement and investing.
Department of Labor
The Department of Labor offers "Taking the Mystery Out of Retirement Planning", an easy-to-use guide to help your employees discover how much they should be putting away for retirement.
American Savings Educational Council
The American Savings Education Council (ASEC) frequently teams up with the U.S. Department of Labor and other federal offices to educate the U.S. population about the benefits of saving. This site includes100 online financial calculators and a basic retirement planning worksheet called "Ballpark Estimate."
401(k) Survival Kit
The non-profit Alliance for Investor Education put together links to 401(k) information to help participants get the most from their plans. Don`t miss "Understanding Risk: What Every Investor Should Know" - it includes an interactive chart comparing after-inflation returns on stocks, bonds and treasury bills over 1, 5, 10, 20 and 30-year holding periods.
IRS Forms and Publications
If you or your participants need IRS Forms, like Form W-4P Withholding Certificate for Pension or Annuity Payments, you can find them on the IRS Web site.
Bloomberg
Bloomberg.com provides financial news, data and analysis, as well as a link to Bloomberg University, which offers free beginner and advanced investment courses in an online format.
Profit Sharing Council of America
PSCA represents its members' interests to federal policymakers and offers practical, cost-effective assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication.
Social Security Online
The Social Security Administration's Web site provides information about Retirement, Survivors and Disability Insurance Benefits, and Supplemental Security Income. The site also provides wage reporting information for employers.
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