News and Media
Contribution deadline dates for many employers have changed. The chart below shows contribution deadlines for contributions paid in 2017.
The results of PLANSPONSOR’s 2017 Defined Benefit Administration Survey are out, and we are pleased to share that JULY has been ranked among the nation’s top providers of Cash Balance Plans and Defined Benefit Plans.
Online access to your account will be unavailable beginning Friday, January 13th at midnight and ending on Sunday, January 15th. When you log into your account you will notice an improved participant website!
In honor of Veterans Day, JULY proudly acknowledges the service and sacrifices of its employees and employee family members who have served our country within a branch of the U.S. Armed Forces.
JULY’s Annual National Advisor Conference
Learn from leading retirement industry experts
If you are a financial advisor interested in growing your business with 401(k) and other qualified retirement plans, please mark your calendar to attend this free event. On Thursday, September 22nd, JULY will be hosting a full-day event with national speakers sharing best practices and insight on how to grow your business in the competitive retirement/qualified plan industry.
Our new calculator estimates the amount a business owner in an owner-only business may contribute to a Cash Balance + 401(k) Combo Plan.
Longstanding JULY client RL Worth & Associates LTD was recently recognized by PLANSPONSOR for their top-notch 401(k) plan.
Kearney brings 16 years of retirement industry experience to JULY’s advisors, TPAs and plan sponsors in the Northeast.
Join our 2-part webinar series to learn about industry trends and best practices related to participant retirement readiness and ways you can further integrate this concept within your practice. Additionally, review the many comprehensive retirement readiness tools and resources that JULY makes available to you and your participants.
In honor of Veteran’s Day, JULY proudly acknowledges the service and sacrifices of its employees and employee family members who have served our country within a branch of the U.S. Armed Forces.
Smith brings 16 years of retirement industry experience to JULY’s advisors, TPAs and plan sponsors in the Midwest.
If you are an advisor interested in growing your business with 401(k) and other qualified retirement plans, you will want to attend this free event. On Thursday, September 10th, JULY will host a full-day event with national speakers sharing best practices and insight on how to grow your business in the competitive retirement/qualified plan industry.
Efficient use of company resources is a challenge facing every industry. At JULY, we are meeting this challenge head on by implementing a Lean process improvement system across our organization. Unlike some process improvement systems, Lean focuses on improving the entire process from beginning to end rather than only one segment with a square focus on the client experience.
Last month the IRS released a revised (and many practitioners believe, a corrected) ruling that will allow plan sponsors to use balances being held in their forfeiture accounts to fund the employer’s required safe harbor contributions. This revised ruling is effective immediately.
Happy New Year! To start the year off right, we would like to share insights on how you can help your business-owner clients minimize pains associated with top-heavy issues. Because top-heavy required employer contributions to 401(k) plans can create budget challenges and may be a thorn in the side of some business owners, this article discusses creative ways to alleviate related frustrations, satisfy existing clients and gain new relationships along the way.
This article points out ways you can encourage employers with 401(k) Plans to use you as a resource. Because 401(k) refunds required by testing can be annoying to business owners and other highly compensated employees, this article contains strategies a business owner could use to eliminate these required refunds. In the right fact pattern you can use this to attract business and to grow your 401(k) practice.
10 Attributes of Open Investment Architecture
John M. Humphrey, COO
July Business Services
Many investment advisors recommend SIMPLE IRAs for their small business clientsbecause they are easy to establish, easy to maintain and inexpensive to administer. SIMPLE IRA plans allow businesses with no more than 100 employees to establish individual IRAs for each of their employees. Once the plan is established, each employee can elect up to $12,500 of salary deferrals into their account. Employees age 50 and older may defer an additional $3,000 catch-up contribution each year.
Learn key reasons to add Cash Balance Plans to your client service offering.
This article offers insight into marketing and selling Cash Balance Plans.
John Humphrey, COO for JULY, recently shared insights on “How to Efficiently Offer SMAs in 401(k)s” with 401(k) Specialist Magazine.
Have you considered using the upcoming Plan Document restatement deadline (April 30, 2016) as an opportunity to shine with your existing clients as well as gain new retirement plan business?
Jeff Hutchens, owner and President of Hutchens Aviation Services, decided in 2011 to adopt a 401(k) plan for his company. Jeff’s goals for the plan were to receive tax deductions for employer contributions, increase the amount he was individually able to fund into a qualified plan, and provide a benefit to his 25 employees.
A significant change is taking place in the retirement plan industry that represents an opportunity for savvy advisors seeking to grow their retirement plan business. The structure of plan fees is changing and many employers need help analyzing and comparing what they are paying for their services. Total Cost Analysis is a way for advisors to help and win business in the process.
The IRS published final cash balance regulations in the fall of 2014. This is a welcome development as the final regulations don’t differ significantly from the proposed regulations, meaning the IRS has established a level of comfort with cash balance plans. The final regulations bring clarity and certainty to the use of investment-based interest crediting rates. They also provide cash balance plan sponsors with some flexibility.
Understanding What It Means To Be a Plan Fiduciary
Encouraging Greater Plan Participation
Update Your Plan to Minimize Non-Discrimination Issues
We explore the importance of understanding four fundamental concepts related to saving for retirement.
This article highlights several creative ways to increase participation in your company’s 401(k) plan. Read on to learn how you can help your employees be better prepared for retirement.
What should I do if I don’t wish to cover all employees in my plan? This article explains how an Employer may exclude some employees from a qualified retirement plan. In some situations, such exclusion may be desirable or appropriate for business or other reasons. This piece also answers some of the most frequently asked questions from Employers on this topic. While the IRS is strict about these cases, we want you to be informed on the subject and to know that JULY is on your side and is here to help.
You never know what you might find when you start exploring places you generally ignore…
Electing e-delivery for your quarterly retirement plan statements is a smart way to go.
Mountain climbers rely on their equipment and supplies. But to reach a summit, they also need perseverance — the commitment to stay with the climb despite the difficulties. You’re in a similar situation as you look ahead to your eventual retirement.
After the long winter, spring is a good time to wash windows, clean your closets, and generally get your home in order. The same can be said for your retirement investments.
Approaching Retirement? Time to Learn About RMDs
Get Your Retirement Account in Shape
If you’re married and planning for retirement, you’re in good company. According to a recent survey,* more than half (56%) of married workers have calculated how much money they will need to accumulate for retirement. But just because you and your spouse are planning for retirement doesn’t mean there’s nothing more for you to do. If you are both participating in employer-provided plans, you need to coordinate your plan investments to make sure they reflect your long-term strategy.
What if you knew you were going to spend several years exploring the Far East? Wouldn’t you think about how much money you’d need and start saving as soon as possible so you would have enough to cover your expenses on the trip? If you think about it, your retirement is a lot like a long adventure. So saving for it shouldn’t be any different from saving for an extended trip. But one of the biggest mistakes people make (maybe even you?) is to put off saving for retirement. Time is a critical factor in building your nest egg. By delaying your contributions, you could be missing out on years of potential growth.
Following is a helpful article on survival tips for a rocky market.
Have you ever fantasized about inheriting a bundle of money or winning the lottery? Who hasn’t?
We understand looming deadlines and seasonal demands that TPAs face every year. Since 2008, we have had the privilege to leverage our wholly-owned overseas back-office to support and strengthen every department within our organization.
JULY’s COO shares first-hand perspective on business process outsourcing for TPAs.