If you have a 401(k) plan, you might be tempted to borrow money from it. Keep in mind that the purpose of a 401(k) is to save for retirement. Take money out now, and you’ll risk running out of money during retirement. Still, if you’re facing a financial emergency, borrowing money from your 401(k) may […]
Employee Benefits Articles
If an employee suffers a disabling accident or illness, the financial consequences can be quite serious. According to the Council for Disabilities website, the risk of disability during the working years is ever-present; almost one-third of Americans entering the work force today will become disabled before they retire. The AIA Trust has worked with Unum […]
Disabilities happen every day. According to the 2007 Disability Status Report published by Cornell University, 36.9% of Americans between the age of 21 and 64 are disabled. While these are not things we like to hear and talk about, these are numbers we cannot and should not ignore.
The Department of Labor (DOL), Internal Revenue Service and the Pension Benefit Guaranty Corporation jointly developed the Form 5550 to satisfy annual reporting requirements on the financial condition, investments and operations of retirement plans. If you have a retirement plan for your practice or component, you may not be aware of new requirements.