TRA MAKES NEWS HAPPEN

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  Tips for Supporting Retirement-Age Employees

  January 28, 2025 - Discover how to support the unique needs of retirement-age employees as their workforce participation increases. Learn about providing financial education, phased retirement programs, simplified retirement processes, and ongoing engagement opportunities to help them transition smoothly and feel valued within the organization. Continue
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  CASE OF THE WEEK – Spousal IRA Contribution

  January 24, 2025 - The deadline for 2024 traditional or Roth IRA contributions is April 15, 2025. Eligible couples over age 50 can contribute up to $32,000 (for 2024 and 2025), while those under 50 can contribute up to $28,000. Take advantage of this opportunity to maximize your retirement savings. Continue
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  PRESS RELEASE – TRA, Empower, Envestnet, and FiduciaryxChange Introduce the TRA Select 401(k) PEP: Simplifying Retirement Plans for Employers

  January 23, 2025 - Discover the TRA Select 401(k) Pooled Employer Plan (PEP) from The Retirement Advantage, Inc. (TRA). This innovative retirement plan offers businesses enhanced benefits, superior services, competitive rates, and reduced administrative burdens. Key partners like FiduciaryxChange, Empower, and Envestnet provide expert fiduciary oversight, comprehensive recordkeeping, and diverse investment options. Simplify your retirement plan management and achieve greater value with the TRA Select 401(k) PEP. Now available for organizations seeking tailored, cost-effective retirement solutions. Continue
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  401(k) Compliance Issues – Common 401(k) Plan Errors

  January 21, 2025 - Contact TRA today to learn more about how we can create a compliant, custom 401(k) solution tailored to your business needs. Let us help you provide a plan that works for your employees—and for you. Continue
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  Plan Sponsors Ask…

  January 21, 2025 - Explore the essentials of Social Security benefits, including eligibility, how benefits are calculated, and strategies for maximizing your retirement income. Understand the impact of claiming age and spousal benefits to make informed decisions for your financial future. Continue
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  CASE OF THE WEEK – Creditor Protection of Retirement Assets

  January 17, 2025 - Deciding whether to keep retirement assets in a 401(k) or roll them into an IRA for creditor protection depends on the asset amount and whether bankruptcy protection is needed. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ensures strong protection for various retirement plans in bankruptcy. In nonbankruptcy situations, ERISA plans are fully protected, while IRA protection depends on state laws. Consult legal counsel for specific advice. Continue
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  Reenrollment Readiness

  January 14, 2025 - Learn the importance of conducting an annual reenrollment for your 401(k) plan. Discover how it can boost participation rates, reduce decision inertia, maximize employer match benefits, and fulfill fiduciary responsibilities. Follow best practices such as clear communication, setting reasonable default rates, offering auto-escalation, and providing financial education to ensure a successful reenrollment process. Continue
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  CASE OF THE WEEK – Age 60 – 63 Catch-up Contributions

  January 10, 2025 - Starting with the 2025 plan year, Section 109 of SECURE 2.0 raises the catch-up contribution limits for participants aged 60-63. If permitted by the plan document, eligible participants can benefit from this increase. Plan sponsors should confirm that their plan providers can accommodate this change and amend plan documents accordingly. Continue
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  Plan Sponsors Ask…

  January 8, 2025 - Discover why average fund expense ratios in your 401(k) plan's investment line-up are decreasing. Recent research from the Investment Company Institute reveals a significant drop in fees, with equity mutual fund expense ratios decreasing by 60% and bond mutual fund expense ratios by 63% from 2000 to 2023. Learn how this industry trend can benefit your retirement savings. Continue
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  CASE OF THE WEEK – Conduit IRA

  January 3, 2025 - Although not required by the IRS or DOL, conduit IRAs can be beneficial for certain individuals. Before proceeding with a qualified plan-to-IRA rollover, plan participants should consult with their tax and legal advisors to determine if a conduit IRA is advantageous for their situation. Continue