Feel the Urgency of Fall: The 100-Day Financial Sprint

As the leaves turn and the fall breeze sweeps in, there lies a powerful reminder: we only have 100 days left to optimize our 401(k) strategies! This seasonal checkpoint is more than just a nostalgic nod to pumpkin spice and golden landscapes—it’s a definitive call to action. Whether you’re an employer eager to refine your retirement plan offerings or an employee dedicated to enhancing your future, this fall, seize the moment to ensure you’re financially ready. Embrace this final sprint with confidence and purpose.

Conduct a Strategic Retirement Plan Review: Employers at the Helm

For employers, the task is clear: conduct a strategic review of your retirement plan. Now is the time to assess whether your 401(k) aligns with your evolving business goals and the needs of your valued team. Dive into auto-enrollment settings, scrutinize matching contributions, and ensure eligibility criteria support inclusivity. Small adjustments today could prevent future misalignments, ensuring your plan remains a powerful tool for recruitment and retention.

Stay Ahead with Nondiscrimination Testing

Employers should act vigorously in preparing census data and contributions for the critical end-of-year nondiscrimination testing. Review your historical results and explore solutions like safe harbor plans or qualified nonelective contributions if discrepancies have arisen in the past. Taking initiative now not only ensures compliance but also fosters a culture of fairness and transparency within your workforce.

Update Beneficiaries: A Simplistic yet Pivotal Task for Employees

Employees, listen up—the task of reviewing and updating your beneficiaries is more important than you might think. Life changes such as marriage, divorce, or the birth of a child should compel you to revisit your designations. This simple task secures your peace of mind, knowing your legacy will be as intended. It’s the prompt you need to transform an oversight into certainty.

Maximize Your Contributions: The Gift of Small Increments

Employees should also consider increasing their contribution rates to their 401(k). With the 2025 limits set at $23,500, plus an additional catch-up contribution of $7,500 for those aged 50 and over, there’s no better time to seize the tax advantages and potential compounding benefits. Remember, even modest adjustments can compound significantly over time, adding layers of security to your retirement.

Take Charge of Your Financial Future

Time is of the essence, but rest assured there’s still room for impactful action. Shaping your 401(k) strategy now means less hassle and more confidence down the line. Turn to your trusted advisors or HR teams for support and guidance—proactively managing these tasks can lead to fewer headaches and more empowered choices. Here’s to a financially fit future!