According to the Employee Benefit Research Institute, the number of participants making contributions to defined contribution plans has declined from 65% in 2009 to 60% in 2010, to 59% in 2011, and 58% in 2012 as cited in the 2012 Retirement Confidence Survey. This is no surprise to many small business owners like architects, some […]
It is never too late or too early to begin planning for retirement. As an architect, you have retirement planning concerns that are unique. Many of you are small business owners, and because of your profession, the time frame for retirement may be flexible and may likely include a gradual transition.
When you’re looking for ways to make the most of your retirement savings, don’t overlook the advantages of rolling over eligible retirement plan accounts from previous employers into your current retirement plan account.
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 […]
Working as an independent contractor can provide flexibility and benefits not available to employees. Hiring independent contractors can potentially save an employer plenty on taxes and benefits. You may be able get the same productivity for less money and fewer administrative and cost issues. However, now more than ever before, independent contractors and the employers […]
Today more than ever, the primary responsibility for saving and planning for retirement seems to have shifted to the individual, yet many have not adjusted their behavior in response to this change. As a result, a large portion of the population is unprepared for future retirement. With the 2008 stock market meltdown, declining prices in […]
Perhaps like many architects, you sometimes take a complacent attitude toward your retirement planning. “It’ll take care of itself,” you say or, “It’s too much of a hassle to change my plan or start a new one.” Finding time to plan for your future may be difficult while you’re busy running your firm, but it’s […]
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.
With all the uncertainties facing today’s economy, the AIA Trust strives to select member service providers that are willing to adapt their programs in order to satisfy changing member needs. Last year, the AIA Trust underwent a thorough Request for Proposal process and after much due diligence, re-selected AXA Equitable’s Members Retirement Program as its […]
Tough economic times have descended upon us all and at this point it is very likely that anyone with a retirement plan has re-assessed his or her investment strategy.