News from Kampstra Wealth Management
Is There a “Right” Time to retire?
Retirement is about YOU – your values, your priorities and your dreams for the future. Is there a “right” time to retire? There is – the time you determine works best for you.
Beyond the Benchmark: Uncovering Additional Value in RFPs
When conducting three- to five-year live-bids, it can be tempting to hyper-focus on fees. After all, benchmarking is often a primary reason for performing an RFP — and maintaining reasonable fees is a core fiduciary duty of plan sponsors. But a thorough review of qualitative measures can be key to getting more of your organizational needs met. Here are some considerations to keep in mind when assembling — and evaluating — your next RFP.
Don’t Let Unexpected Expenses Derail Your Retirement
In a recent survey, nearly one-third of retirees reported they faced at least four unforeseen expenditures during retirement.
The Six Types of Fiduciaries in Retirement Plan You Need to Know
A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Here is a brief overview of the categories of fiduciaries.
Medicare Plans and Long Term Care – Working Together
While it may be hard to think of now, it’s likely you’ll need some type of healthcare or daily living assistance as you age. People often believe that Medicare covers long-term care (provided either at home or in a nursing facility). Unfortunately, that’s not the case.
Closing the Auto-Escalation Gap
According to the 2022 Callan Defined Contributions Trend Survey, three-quarters of DC plans offer auto-enrollment, while only two-thirds provide an auto-escalation feature. This discrepancy is concerning.
Medicare 101: Understanding The Basics
One of the biggest decisions to make in retirement is ensuring you have the health care coverage you need, when you need it. Unfortunately, Medicare can be a complicated program to navigate.
Is Your Retirement Plan Catchy?
By offering — and encouraging — catch-up contributions, plan sponsors can demonstrate a heightened commitment to employee retirement readiness.
The Advantage of Saving Early
The amount of your total nest egg is exponentially influenced by the duration of time it has to compound. In other words, the earlier you start saving, the better, by leaps and bounds
Dear Prudence: What is Prudence Anyway?
When it comes to monitoring and selecting investments, the responsibility lies with the ERISA fiduciary for managing your company’s 401(k) plan, and this means the fiduciary is subject to ERISA’s prudent man rule (sometimes referred to as the “prudent expert rule”). What exactly is a prudent expert?
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