Put Your Advisor to the Test

Put Your Advisor to the Test Ask these critical questions to test the knowledge of future plan advisors. A knowledgeable plan advisor is an important component in the successful operation of your qualified plan. However, selecting the right candidate requires more than simply reviewing typical Request for Proposal (RFP) responses. RFPs are an important part […]

COVID-19 Impact on Retirement Plan Discrimination Testing

retirement plan binder with glasses

COVID-19 Impact on Retirement Plan Discrimination Testing As a result of COVID-19, many employers have made financial, operational, and employment-related changes. Plan sponsors need to consider how the following actions may impact the results of their 2020 retirement plan discrimination testing: Changing or Discontinuing the employer 401K match Retirement plan design changes Furloughing, laying off, […]

Paycheck Protection Program (PPP) Loan Forgiveness Application

paycheck protection program loan application

Paycheck Protection Program (PPP) Loan Forgiveness Application On Friday, May 15th the SBA has released their forgiveness application with detailed instructions on how to complete the form.   While the release promised further guidance on loan forgiveness, Innovative has received a lot of questions surrounding the calculation of Full Time Equivalent (FTE) Employees and payroll costs that […]

4 Tips for a Volatile Market

The COVID-19 National Emergency has impacted nearly every part of our daily lives and the investment market is no exception. When account balances fluctuate, it is tempting to make quick investment decisions. Before you do, consider a few investing tips to guide your investments through volatile markets. Remain Calm Many investors will hear bad news […]

CARES Act: Impact on your Retirement Plans

CARES Act: Impact on your Retirement Plans The CARES Act is the stimulus package the government recently enacted to support the country and economy during and after the coronavirus pandemic. The 880-page Act has many programs and features that affect a wide range of the economy. The points below are some of the highlights and […]

Student Loan Relief Due to COVID-19

Overview On March 13, 2020, the U.S. Department of Education announced that it would waive interest charges, allow for suspended payments and provide assistance to borrowers of defaulted loans for 6 months. All information can be found at StudentAid.gov. Who Is Affected? All borrowers who have an outstanding federal student loan, including defaulted and non-defaulted […]

Market Performance: Tips for Addressing Employee Concerns and Prudent Plan Management

The coronavirus (COVID-19) pandemic and recent market volatility have undoubtedly presented you with new challenges as you care for your employees, families and community. We encourage you to lean on Innovative Investment Fiduciaries as a source for stability during these times. Below is our recent plan sponsor brief with some best practices for addressing the […]

Ways Employers Can Deal With Employee Student Loan Debt

Ways Employers Can Deal With Employee Student Loan Debt February 25th, 2020 Student debt has increased dramatically in recent years, creating a financial burden on employees’ ability to save for retirement. Many employers have begun implementing programs to help employees manage student loan debt. Millennials (and their families) are often burdened with significant student loan […]

Myth Series #12: I can’t offer a student loan program in my retirement plan.

With student loan debt reaching astronomical numbers, employers are increasingly looking for ways to add student loan assistance programs to their benefits packages. While current student loan repayment programs can relieve financial stress, they do not offer tax benefits to employees. However, a recent IRS Private Letter Ruling allowing a major pharmaceutical company to add […]

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