Understanding Directed Trustees in your 401(k) Plan
Business owners often wear many hats: CEO, CFO, HR Director, and sometimes even the IT department. But there is one hat that carries significant personal risk and administrative burden they might be wearing unnecessarily: The 401(k) Plan Trustee. Many business owners choose to appoint a third party, such as Heartland Trust, to fulfill this role and mitigate these burdens. What is […]
Empower Your Workforce: Heartland Trust Company’s Comprehensive 401(k) Services
What Can Heartland Trust Company’s Retirement Division Do For You? At Heartland Trust Company, our Retirement Services Division is your all-in-one partner for 401(k) plan administration. We help businesses design, implement, and manage retirement plans that support employee financial wellness, meets regulatory standards, and gives employers peace of mind. Our Core Services Trustee Third […]
Decoding RMDs: A Guide to Understanding Required Minimum Distributions
WHAT ARE RMDs? Required Minimum Distributions (RMDs) are a gentle nudge from Uncle Sam. The government allowed individuals to sock away tax-deferred money through the years, and RMDs are a reminder to tap into those retirement accounts. These pre-tax accounts, such as traditional IRAs and 401(k)s, have been accumulating earnings tax-free over the years. But […]
From Every Direction
In a world where headlines bombard you from every angle, it is easy to feel overwhelmed. From multiple ongoing overseas conflicts, the federal deficit increasing, to inflation and interest rates, there is no shortage of complex issues vying for our attention. Not to mention it is an election year, which always adds an extra layer […]
The IT Crowd
In the modern world, personal information is an increasingly valuable asset. It is a key target for cybercriminals and hackers, who can use this information to commit identity theft, fraud, and other cybercrimes. With the rapid expansion of technology, most people now have access to computers in their workplaces. While these computers are essential for […]
Lifetime Income Disclosure Regulation
Your 401(k) plan statement will look different in the near future. Why? A new regulation included in theSECURE Act, which was passed in December 2019, amended Section 105 of the Employee RetirementIncome Security Act.
Retirement Plan Limits for 2022
Jana Samek, Retirement Services – Relationship Manager The Internal Revenue Service (IRS) has set inflation-adjusted limits for IRAs and company-sponsored retirement plans for 2022. While some of the contribution limits have remained the same, other limits have changed. The basic salary contribution limit for a 401(k) and similar company sponsored retirement plans went up to […]
What is a SIMPLE IRA Plan?
Shara Fischer, Wealth Management Officer Heartland Trust offers two of the most common types of employer-sponsored retirement plans: 401(k) and SIMPLEs. Both types of plans have many of the same features, but there are key differences that might make one a better fit for your business and employees. This article will cover the features of […]
401(k) Loans: How Do They Work?
By Jana Samek, Relationship Manager – Qualified Plans Having access to a 401(k) plan through your workplace is a wonderful thing. Over half (56%) of US employers offer this employee benefit. If you have a 401(k) plan and face a financial emergency, there may be an option you are unaware of. You may be able […]
Planning for Physicians: Managing Contributions Between a 401(k), 457(b)
As many of our readers likely know, the Federal government provides strong incentives for saving for retirement and other financial goals. You can break these down into three broad categories: tax deductibility (on contributions), tax-free distributions (i.e. withdrawals), and tax deferral (on growth). Many physicians can increase their tax deductions and benefit from tax deferral […]
