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June 2023 Participant memo: How Much is Enough?
There are many formulas for figuring out how much money you need to retire. While thinking seriously about retirement finances is useful, for most people, these formulas may not come close to what your retirement actually looks like. Taking Stock To truly get comfortable with your retirement plan, the first thing you should do is… Read More Read More
Disability Awareness Month
By Aviva Sapers Are you aware of the financial impact a disability can have for you and your family? You have around a 25% chance of becoming disabled for three months or more before the age of 65.* The average duration of a disability ranges from 2.1 years to 3.2 years, depending on age.** A 2019… Read More Read More
May 2023 Participant memo: The Advantage of Saving early
The early bird really could get the worm! In the chart below you will find no secret tips or tricks to investing that cite prior market events: just plain old math. The amount of your total nest egg is exponentially influenced by the duration of time it has to compound. In other words, the earlier… Read More Read More
Are Socially Minded Investments in ESG Right for You?
By Evan Macedo Recent years have seen an uptick in the desire for more “socially responsible investing,” with individuals and corporations alike focused, more than ever, on environmental, social, and corporate governance (ESG) concerns around where and how their money is spent. The basic idea is to emphasize impact investing which prioritizes financial returns in… Read More Read More
Gifting to Children and Grandchildren
/// By Melissa E. Sydney & Aviva Sapers Right now, individuals with large estates have an unprecedented opportunity to move assets out of their taxable estate down to their children and grandchildren. The current tax rules allow individuals to make lifetime gifts of up to $12.92 million during their lifetime ($26.84 million for married couples). … Read More Read More
April 2023 Participant memo: Need a Tax Break?
You may be eligible for a valuable incentive, which could reduce your federal income tax liability, for contributing to your company’s 401(k) or 403(b) plan. If you qualify, you may receive a Tax Saver’s Credit of up to $1,000 ($2,000 for married couples filing jointly) if you made eligible contributions to an employer sponsored retirement… Read More Read More
Sapers & Wallack Named to List of Nation’s Top DC Advisor Teams
Sapers & Wallack has been named to the National Association of Plan Advisors’ list of the nation’s top defined contribution (DC) Advisor Teams with Assets under Advisement over $100 Million. Unlike other lists, this focuses on individual firms, or what may, in a wirehouse environment, be referred to as a team, or office, and the… Read More Read More
March 2023 Participant memo: Planning Financial Futures
Do you spend more time planning your annual vacation than you do thinking about your personal finances? If so, you’re not alone. A lot of people put off financial planning or avoid it altogether. Personal financial planning is an ongoing, lifelong process. If we break it down into small, achievable tasks, it’s a lot less… Read More Read More
February 2023 Participant memo: The Importance of naming a Beneficiary
Do you know what will happen to your retirement savings if you were to pass away? Here are some things you should know about naming beneficiaries that could save your loved ones’ time, money and frustration. Facts about beneficiary designations 48% of people don’t have a named beneficiary.1 Generally, if you are married, your retirement… Read More Read More
How to Not Outlive Your Income
By Aviva Sapers Many of our clients have voiced a concern of outliving their income. Given that much of today’s workforce have not saved enough to guarantee a financially secure retirement – a recent study found that the average median savings of millennials is only $8,000(1) —this is why we wanted to discuss what can… Read More Read More
January 2023 Participant memo: Financial Wellness 101: The Real Cost of Takeout
Financial Impact Think back to your last DoorDash order. How much did it cost you? How much food did you actually get for the money you were paying? Did you feel like you got a good deal? To those of us who order out consistently, a $35 tab on a DoorDash order might seem normal.… Read More Read More
Disinherit the IRS With a Zero Estate Tax Strategy
By Aviva Sapers For high net worth individuals, finding efficient techniques for limiting the amount that goes to the IRS when you die is always a challenge. Typically, your estate has three beneficiaries: your family, charity, and the IRS. No one has ever said they want to leave money to the IRS. Therefore, the questions… Read More Read More
December 2022 Participant memo: ‘Tis the Season for Investing
During the holidays, we think about spending time and reconnecting with family and friends, cozying up by the fireplace, enjoying each other’s company. We also tend to spend quite a bit of money this time of year, on everything from gifts to new year’s resolutions (think gym memberships). In a typical holiday season, we don’t… Read More Read More
Rethinking the Approach to Long Term Care Insurance
By Aviva Sapers Historically, many people do not purchase Long Term Care (LTC) Insurance despite the increasing likelihood that prolonged, financially debilitating health support may arise at some point in our future. The need for extended coverage has never been so stark as it is today with so many older Americans and nursing facilities being… Read More Read More
November 2022 Participant memo: Are You Thankful for Your Health?
The holidays are upon us! Staying healthy just might make you wealthy. With small lifestyle changes and healthy choices (especially with all the shared yummy foods), you may reduce your annual healthcare costs and increase your income. These lifestyle changes can be as simple as limiting your salt intake or taking your prescribed medication regularly.… Read More Read More
October 2022 Participant memo: Market Trick and Treats
With the recent market volatility, it’s understandable that you may be concerned about your investments. Don’t let the market volatility spook you! Consider the following tips: Review your safe route. It is ok if your investment portfolio isn’t performing as you expected, but as you age closer towards your retirement, check out different investment options… Read More Read More
Podcast Q&A: “How a Fixed Annuity Can Fill a Gap in Your Retirement Savings Plan“
Aviva Sapers, CEO and Kim Bernabeo Landry, Director, Insurance Underwriting Advocacy at Sapers & Wallack answer questions about their blog “How a Fixed Annuity Can Fill a Gap in Your Retirement Savings Plan” You can read the blog: “How a Fixed Annuity Can Fill a Gap in Your Retirement Savings Plan)” here. Read More
Employee Benefit Audits – Lessons Learned from Seasoned Professionals
/// By Adam Shaker and Scott Tuxbury When structuring and maintaining an employee benefit plan (EBP), the process of conducting a plan audit by an outside CPA is a necessary step to assess plan accuracy and ensure long-term viability while remaining compliant with applicable laws and regulations. Generally, plans with more than 100 eligible participants… Read More Read More
Podcast Q&A: “Employee Benefit Audits – Lessons Learned from Seasoned Professionals“
Scott Tuxbury, Vice President, Retirement & wealth Management at Sapers & Wallack and Adam Shaker, Manager, Audit & Assurance at LGA, LLP answer questions about their blog “Employee Benefit Audits – Lessons Learned from Season Professionals” You can read the blog: “Employee Benefit Audits – Lessons Learned from Season Professionals” here. Read More
September 2022 Participant memo: Retirement Readiness: How will you Prepare?
Much has been made of the current state of the American worker as it pertains to their retirement savings. According to a recent study by the General Accountability Office, 29% of Americans 55 and older do not have any retirement savings or pension plan and those who have saved are woefully behind with 55-64 years… Read More Read More
Podcast Q&A: “Executive Benefits Today“
Aviva Sapers, CEO and Patrick J.Bugbee. Director, Executive Benefits & Administration at Sapers & Wallack answer questions about their blog “Executive Benefits Today” You can read the blog: “Executive Benefits Today – Sapers & Wallack (sapers-wallack.com)” here. Read More
How Aware Are You About Your Life Insurance Needs?
By Aviva Sapers September is National Life Insurance Awareness Month—every year companies that work in the insurance and financial services fields put out a message about the value and importance of life insurance to protect our loved ones and legacies. Too often, such messaging may get lost in our inbox or glazed over in the… Read More Read More
How a Fixed Index Annuity Can Fill a Gap in Your Retirement Savings Plan
/// By Aviva Sapers and Kim Bernabeo Landry Amid the economic uncertainty and volatile stock market of recent years, many are looking for ways to ensure a steady income stream throughout retirement. With the diminishing existence of employer pensions and uncertainty about Social Security programs, people are looking for new approaches to share in some… Read More Read More
Executive Benefits Today
By Aviva Sapers During the Great Resignation, it has become even more important to find ways to attract, retain, and reward key employees. These days, competitive salaries may not be enough to hold your team in place. Benefits, stock options, Supplemental Executive Retirement Plans (SERPs), and other non-qualified executive benefits plans can help incentivize performance,… Read More Read More
How a Personalized Retirement Employer Plan Meets the Needs of an Evolving Market
The retirement plan landscape is rapidly changing and increasingly complex. Between volatile markets, the boom of remote work options, shifting worker demographics, and evolving challenges around hiring and retention—finding the right plan to balance performance with a reduced cost structure and mitigation of fiduciary risk and record keeping responsibilities can be a lot for an… Read More Read More
July 2022 Participant memo: Beneficiary Designations Who will get your money?
We know you are ready for summer! But how’s your retirement plan doing? Summer can serve as a preview of your retirement — long days in the sun and spending time with your loved ones! So, what better time to do a routine check-up on your retirement plan! Protect your loved ones and ensure… Read More Read More
Podcast Q&A: “Reduced Health Care Costs & Shared Profits with the InCap® Group Captive“
Paul Clark, Managing partner, National Health Care Captive Practice Leader of Clark & Lavey, A Hilb Group Company and Evan Macedo Treasurer & Vice President of Finance & Operations at Sapers & Wallack answer questions about their blog “Reduced Health Care Costs & Shared Profits with the InCap® Group Captive” You can read the… Read More Read More
Reduced Health Care Costs & Shared Profits with the InCap® Group Captive
/// By Paul Clark and Evan Macedo Squeezed between the perpetually rising cost of health care and the increasing demand for good benefits to attract and retain talent—American businesses are struggling to find the right balance to stay afloat and remain competitive. More and more companies are looking for ways to cut costs of employee… Read More Read More
June 2022 Participant memo: Beneficiary Designations Who will get your money?
Although not a pleasant topic, it is an important one – Who is the named beneficiary of your retirement account should you pass away? When you enrolled in your retirement plan, you were asked to select a beneficiary to receive your retirement plan assets in the event of your death. This step may be more… Read More Read More
Podcast Q&A: “Disability – Why is Income Protection Important?
Aviva Sapers, CEO and and Kristen Maalouf, Executive Assistant of Sapers & Wallack , answer questions about their blog “Disability – Why is Income Protection Important?” You can read the blog: “Disability – Why is Income Protection Important?‘” here. Read More
Benefits of a Roth Conversion
With Americans living, on average, longer than before and the strength of Social Security and pension programs on the decline—securing enough income to maintain quality of life throughout retirement can be complicated. With tax rates likely to increase for certain groups in the future, now may be a good time to consider a Roth IRA… Read More Read More
Podcast Q&A: “Has Your Company Taken Advantage of the R&D Tax Credit Program?“
Evan Macedo, Treasurer & Vice President of Finance & Operations at Sapers & Wallack and Skyler Kressin CPA & Partner at Dominion Enterprise Services, answer questions about their blog “Has Your Company Taken Advantage of the R&D Tax Program” You can read the blog: “Has your Company Taken Advantage of the R&D Tax Program‘”… Read More Read More
May 2022 Participant memo: Millennials – The Time to Start Saving is Now!
Typically, younger people don’t make retirement savings a priority. Living expenses, student debt, rent or house payments, and other day-to-day expenses mean that retirement savings take a back seat. In fact, research from National Institute on Retirement Security says that 66 percent of millennials haven’t saved any money for retirement, and 66 percent haven’t started… Read More Read More
Sapers & Wallack Named to List of Nation’s Top DC Advisor Teams
ARLINGTON, VA — Sapers & Wallack has been named to the National Association of Plan Advisors’ list of the nation’s top defined contribution (DC) Advisor Teams with Assets under Advisement of $100 Million . Unlike other lists, this focuses on individual firms, or what may, in a wirehouse environment, be referred to as a team,… Read More Read More
Has Your Company Taken Advantage of the R&D Tax Credit Program?
/// By Skyler Kressin and Evan Macedo Amid the scramble of PPP loans and tax reform changes of the Tax Cuts and Jobs Act—many companies have failed to fully take advantage of the reliable, long-standing income tax savings opportunities of the R&D Tax Credit. Whether due to common misconceptions or confusion around documentation, a wide… Read More Read More
Disability – Why is Income Protection Important?
/// By Aviva Sapers and Kristen Maalouf Think for a moment about your ability to earn an income and how important it is to protect that income if you became too sick or injured to work. You are currently healthy and working, right? Would you agree that it is your ability to earn an income… Read More Read More
Meeting Your Fiduciary Responsibilities
Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer benefit when a retirement plan is in place. Administering a plan and managing its assets, however, require certain actions and involve specific responsibilities. Please click here… Read More Read More
Podcast Q&A: Financial Matters for Women in Divorce
Aviva Sapers, CEO of Sapers & Wallack and Lisa M. Cukier, Partner & Co-Chair of Burns & Levinson LLP, answer questions about their blog “Financial Matters for Women Divorce” You can read the blog: “Financial Matters for Women in Divorce‘” here. LISA M. CUKIER is a Partner, Co-Chair of the Private Client Group, and Executive… Read More Read More
DOL Issues 2022 Adjusted Penalty Amounts
The U.S. Department of Labor (DOL) has announced the 2022 annual adjustments to the maximum civil penalties employers face for violating a variety of federal laws that fall under their enforcement purview. Penalties may be assessed on employers for violations of a wide range of laws, including ERISA and the Affordable Care Act (ACA). Employee… Read More Read More
April 2022 Participant memo: Tax Saver’s Credit: Get the “Credit” You Deserve!
Tax Saver’s Credit: Get the “Credit” You Deserve! You may be eligible for a valuable incentive, which could reduce your federal income tax liability, for contributing to your company’s 401(k) or 403(b) plan. If you qualify, you may receive a Tax Saver’s Credit of up to $1,000 ($2,000 for married couples filing jointly) if you… Read More Read More
Financial Matters for Women in Divorce
/// By Aviva Sapers and Lisa M. Cukier Regardless of the circumstances, divorce is always an emotional, financial, and logistically challenging time for everyone involved. But for women, who are historically less often the primary breadwinner or financial record keeper in a marriage—and more often the primary caregiver for children and aging parents—divorce can pose… Read More Read More
Podcast Q&A: Department of Labor is Focusing on the Rollout of a Lifetime Income Product for Retirement—What Does that Mean for You?
Scott Tuxbury, Vice President, Retirement & Wealth Management of Sapers & Wallack, answers questions about his blog “Department of Labor is Focusing on the Rollout of a Lifetime Income Product for Retirement-What Does that Mean for You?” You can read the blog: “Department of Labor is Focusing on the Rollout of a Lifetime Income… Read More Read More
Department of Labor is Focusing on the Rollout of a Lifetime Income Product for Retirement—What Does that Mean for You?
In 2007, I worked at a large multi-national asset management firm and was asked to attend an annual retirement industry event with the executives of every major retirement company in the United States. Held at the Harvard Club, the theme of the meeting was “idea day,” where retirement focused asset management firms shared thought leadership… Read More Read More
Podcast Q&A: Employee Retention Credit – There Is Still Time To File
Evan Macedo, Treasurer & Vice President, Finance & Operations of Sapers & Wallack, answers questions about his blog “Employee Retention Credit – There Is Still Time To File” You can read the blog “Employee Retention Credit – There Is Still Time To File” here. Read More
Employee Retention Credit – There Is Still Time To File
Amid the turmoil caused by the ongoing pandemic, it has been difficult for business owners to stay on top of the government incentive opportunities while maintaining a modified standard of operations. Navigating the processes of filing for PPP loans flooded the business conversation in 2020 and 2021, leaving other great governmental programs underutilized and overlooked.… Read More Read More
Podcast Q&A: Getting Your Financial House in Order – Part 2 (Middle Age)
Andrew MacDougall, Director, Wealth Management at Sapers & Wallack, answers questions about his blog “Getting Your Financial House in Order – Part 2 (Middle Age)” You can read the blog “Getting Your Financial House in Order – Part 2 (Middle Age)” here. Read More
Getting Your Financial House in Order – Part 2 (Middle Age)
In June of 2020, my colleague, Evan Macedo, wrote about taking a practical and proactive approach to taking control of personal finances for individuals at the start of their careers. That piece, linked below, was primarily geared toward people in their 20s and 30s who are starting out with savings, budgeting, and paying down debts.… Read More Read More
Long Term Care Coverage as an Executive Benefit
We are living and working longer than the generations that came before, but the strength of Social Security and the retirement options afforded to our parents are not what they used to be. Retirement savings, which are mostly our own, have become more important than ever to maintain quality of life in our later years—and… Read More Read More
Cybersecurity: Is It Worth It?
Over a year ago, near the start of the pandemic, I wrote a blog about the importance of cybersecurity insurance amid the uptick of hacking and cyber ransom attacks on corporations of all sizes. I spoke then about how the Black Swan disruption of COVID had driven so much of global business online, which had… Read More Read More
Where You Get Your Care Matters
Before I became Sales Director for Hilb Group of New England, I spent years working directly for a large insurance carrier. I have looked at a lot of health care data throughout my career and have taken well over a hundred meetings with companies for direct review of their health care plans and outcomes. Believe… Read More Read More
Podcast Q&A: Where You Get Your Care Matters
Scott Mathieu answers questions about our September blog. Whether you’re shopping as an individual or working on the HR side of your company benefits plan, doing the research and working with advisors who understand the stakes can not only save money and but also add immensely to the quality of life for you and your… Read More Read More
It’s Time For Your Life Insurance Checkup
September is National Life Insurance Awareness Month, so i’s a great time to review your coverage.* If you don’t have any life insurance, you’re not alone. Life insurance is one of those “someday” things for many people – but the cheapest time to buy it is probably today. There are two kinds of life insurance:… Read More Read More
Podcast Q&A: Why Foreign Nationals, Green Card Holders, and US Citizens who Own Property Abroad and Property in the United States Should Consider Purchasing Life Insurance
Aviva Sapers, President and CEO of Sapers & Wallack, and Kenneth J. Vacovec, Founding Partner of Vacovec, Mayotte & Singer, answer questions about their blog “Why Foreign Nationals, Green Card Holders, and US Citizens who Own Property Abroad and Property in the United States Should Consider Purchasing Life Insurance” You can read the blog “Why… Read More Read More
Why Foreign Nationals, Green Card Holders, and US Citizens who Own Property Abroad and Property in the United States Should Consider Purchasing Life Insurance
/// Posted by Aviva Sapers & Ken Vacovec This blog is co-authored by Aviva Sapers, CEO of Sapers & Wallack, and Kenneth J. Vacovec, Founding Partner of Vacovec, Mayotte & Singer. For many Green Card holders or US citizens who own property or assets abroad, the eventual estate taxes that will be due on those holdings… Read More Read More
How to Utilize Technology Tools to Boost Financial Wellness
Stress is likely the largest contributor of health issues and loss of productivity at the workplace in America—and an estimated 84% of stress is derived from financial problems. That equates to huge financial ramifications for businesses of all sizes. A recently conducted Salary Finance survey found that American businesses are losing as much as 500-billion-dollars… Read More Read More
Womenology: Managing the Financial Trifecta Caregiver Checklist
Managing the Financial Trifecta Your Retirement, Your Parents & Your Kids! Presented by Aviva Sapers & Holly Knight May 20, 2021 Caring for Older Parents: To get a complete picture of what may be coming your way as far as your parents’ needs are concerned this checklist will help you get started. Read More
Womenology: Managing the Financial Trifecta Resource Sheet
Managing the Financial Trifecta Your Retirement, Your Parents & Your Kids! Presented by Aviva Sapers & Holly Knight May 20, 2021 Here is a useful sheet you can download showing the “Parent Caregiving” resources and the “Raising Kids who Launch” resources. Read More
Womenology: Financial Wellness Activity
Make Money not Excuses. A discussion for women to gain control over their finances. Presented by Aviva Sapers, Holly Knight of Sapers and Wallack February 25, 2021 Here is a pdf document of the Womenology Financial Wellness “Your Money Why” Activity Sheet Read More
Womenology: Financial Wellness Handouts
Make Money not Excuses. A discussion for women to gain control over their finances. Presented by Aviva Sapers, Holly Knight of Sapers and Wallack February 25, 2021 Here is a pdf document of the Womenology Financial Wellness Women and Investing Retirement Options Handouts. Read More
Womenology: Financial Wellness Budgeting Worksheet
Make Money not Excuses. A discussion for women to gain control over their finances. Presented by Aviva Sapers, Holly Knight of Sapers and Wallack February 25, 2021 Here is a pdf document showing the Womenology Financial Wellness Monthly Budgeting Sheet. Read More
Womenology: Financial Wellness Resource Links
Make Money not Excuses. A discussion for women to gain control over their finances. Presented by Aviva Sapers, Holly Knight of Sapers and Wallack February 25, 2021 Here is a pdf document showing the Womenology Financial Wellness Resource Links. Read More
Contributing to an Emergency Savings Account Through Payroll Deduction
With the benefit of the past year in hindsight, it’s safe to say that most everyone has learned some lessons from the pandemic about planning for the unexpected. Both businesses and individual financial outlooks have been dramatically affected by the months of uncertainty and shutdown, with short-term risk mitigation and long-term planning for the next… Read More Read More
Podcast Q&A: Contributing to an Emergency Savings Account Through Payroll Deduction
Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers questions about our May blog, Contributing to an emergency Savings Account Through Payroll Deduction. Read More
Why Wealth Management at Sapers & Wallack?
As one of the newest members of the Sapers & Wallack team, I thought this a good way to introduce myself and explain why I am so excited to join this company as the new Director of Wealth Management. I have been in the financial services field for over fifteen years now ranging from getting… Read More Read More
How to Build Your Network
For many businesses, and certainly throughout the insurance and financial services fields, the process of meeting new people and expanding our professional networks is key to success. Though this past year has put a serious damper on the traditional ability to shake hands and build new relationships, avenues still exist for making connections and many… Read More Read More
Estate Planning To-Do-List – No Matter What Stage of Life You Are At
I have worked in the financial services industry with life insurance products and estate planning for over 25 years, and in that time, I have had the opportunity to help many families file policy claims as they settle the estates of loved ones. I have seen first-hand the importance of the deceased having a financial… Read More Read More
Retirement Times January 2021: 3(38) Advisory Services
The January issue of Retirement Times asks whether fiduciaries should outsource retirement plan investment responsibility, and discusses whether you should adopt a plan committee charter. This month’s Participant Memo discusses your financial wellness 101 – how much do you know about your retirement plan? Read the whole issue here. Read More
Using Life Insurance to Offer Diversified, Tax-Advantaged Retirement Savings
Regardless of your financial situation, for most of us, saving the right amount of money for retirement can be difficult. Establishing sources of replacement income that will allow you to consistently maintain your expected lifestyle after your working years often requires careful planning, financial discipline, and if those are not attainable, some creative solutions. Read More
Podcast Q&A: Using Life Insurance to Offer Diversified, Tax-Advantaged Retirement Savings
Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers questions about our January blog, Using Life Insurance to Offer Diversified, Tax-Advantaged Retirement Savings Read More
Retirement Times December 2020: Post Election Investment Commentary
The December issue of Retirement Times gives us a post-election investment commentary as well as an article about cyber security issues for plan sponsors. This month’s Participant Memo covers the 10% Savings Goal, start small and grow. Read the whole issue here. Read More
Underwriting in the Time of COVID-19
As with all industries, the insurance market has been greatly affected by the COVID-19 pandemic—particularly around the practice of underwriting. For the uninitiated, Life Insurance Underwriting is the method through which insurers evaluate the risk of potential buyers in order to decide whether or not to approve, deny, or rate up a life insurance policy. … Read More Read More
Retirement Times November 2020
The November issue of Retirement Times gives us information about the Volatility of Investments in this Election Year; the results of a Retirement Income survey and an Auditor’s Perspective of an Annual Plan Audit. This month’s Participant Memo covers Retirement Plan Basics – 10 things to know about your employer’s retirement plan. Read the whole… Read More Read More
Rethinking the Approach to Long-Term Care Insurance
Historically, there are many who do not purchase Long-Term Care (LTC) Insurance despite the increasing likelihood that prolonged financially debilitating needs for care may arise at some point in our future. Older Americans and nursing facilities being hit so hard by the COVID-19 pandemic might encourage people to want access to home care should they… Read More Read More
Scott Tuxbury Named to 2020 Financial Times 401 Top Retirement Advisers
Sapers & Wallack is pleased to announce that Scott Tuxbury has been named to the 2020 edition of the Financial Times 401 Top Retirement Advisers. The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans across the U.S. This is the sixth annual FT 401 list, produced independently by… Read More Read More
Using Endowments for Sustainable Giving
One of the biggest challenges facing nonprofits with large individual donations, is losing an annual stream of income when the donor dies. While most nonprofits rely heavily on their annual fundraising campaigns, it is important, and sometimes vital, for nonprofit organizations to encourage such donors to endow their gifts – distinct from annual contributions –… Read More Read More
AALU: Defined Value Clauses: An Important Tool for Turbulent Times.
The purchase of life insurance products and their implementation into a client’s broader legacy planning strategy requires clients to navigate through a complex web of financial and cashflow management strategies, transfer tax considerations, and tax reporting obligations that must be approached differently on a client by client basis. Failure on the part of advisors to work… Read More Read More
MA Paid Family Medical Leave Act: Overview and Update
By now, most businesses are aware and have engaged in the preliminary steps toward rolling out the Paid Family and Medical Leave Act (PFML) in Massachusetts. Starting January 1st, 2021, eligible Massachusetts workers will be able to take up to 26 weeks of paid family and medical leave benefits, meant to cover maternity and paternity… Read More Read More
Reviewing Life Insurance Needs in the Time of COVID
As we enter Life Insurance Awareness Month, it seems a good moment to reevaluate why we have the insurance we do and whether it is the right amount to fulfill the needs we have. Against the backdrop of the COVID-19 pandemic and with an election only months away that has the potential to greatly change… Read More Read More
Retirement Times August 2020
The August issue of Retirement Times focuses Collective Investment Trusts — The Fastest Growing Investment Vehicle Within 401(k) Plans – and also Allowable Plan Expenses. This month’s Participant Memo shares a Retirement Plan Check-Up. Read the whole issue here. Read More
Estate Planning Today for the World You Want Tomorrow
Often, when I begin a discussion with a client on estate planning, I remind them that they generally have three beneficiaries: family, charity, and Uncle Sam. I follow up with the question, “how much do you want to leave to each?” No one ever wants to leave their money to Uncle Sam, but the government… Read More Read More
Mitigating Downside Risk in the Market with Annuities and Life Insurance
There is a pervasive myth that insurance products produce mediocre returns. In truth, though life insurance has been purchased for many years to provide security and guarantees, there are some newer product lines that can be very attractive for investment purposes—particularly in volatile markets. In order to remain competitive and relevant, the insurance industry has… Read More Read More
Getting Your Financial House in Order
Since many of us are stuck at home with our fiscal future full of bumps and potholes, I’ve found it to be a good opportunity to assess my relationship with personal finances. Full disclosure, I am a bit of an “Excel geek,” so expense tracking and spreadsheets are definitely in my wheelhouse. Nevertheless, this process… Read More Read More
Retirement Times May 2020
The May issue of Retirement Times focuses on if you are ready for an audit; if your company should implement a student loan assistance plan: complying with ERISA 404(c). This month’s Participant Memo shares Four Basic Steps for a Successful Retirement Read the whole issue here. Read More
Retirement Expenses memo
How Can you Prepare for Healthcare Expenses in Retirement? Rising healthcare costs are on everyone’s mind, even for affluent people. In fact, 69 percent of affluent pre-retirees cite rising healthcare costs as one of their top fears in retirement, according to a survey from the Nationwide Retirement Institute. In fact, 63 percent of these affluent… Read More Read More
Why Cybersecurity Insurance is More Important than Ever
/// Posted by Ellen Bohn Gitlitz & Bill Smeltzer No one would have predicted that we’d all be spending our spring, summer, and possibly beyond working remotely and restructuring how we engage with our coworkers, clients, and lives in general. Unfortunately, this extended period of disruption and uncertainty has also made us all more vulnerable… Read More Read More
Impact of Low Interest Rates and Stock Market Volatility on Life Insurance Policy Performance
Coronavirus has rocked the markets and global economy. The first quarter 2020 saw unprecedented stock market volatility and a Federal Funds rate cut to near zero. Market volatility and interest rates can significantly impact the performance of life insurance policies. Lion Street has authored a new white paper on this topic which covers the… Read More Read More
Retirement Times April 2020
The April issue of Retirement Times focuses on Closing the Retirement Gender Gap: How Retirement Plan Advisors Can Help, along with Another Way to Save: New Tax Credit for Plan Participants. This month’s Participant Memo shares Five Key Decisions for a Successful Retirement. Read the whole issue here. Read More
Retirement Times Feb 2020
This month our Retirement Times asks the question: Too Many Choices: How Many Investment Options Should You Offer? It also discusses the was you can use Plan Analytics to evaluate your retirement plan. February’s Retirement Times contains so much useful & interesting information. Read More
Retirement Times Jan 2020
The Sapers & Wallack / Hilb Group of New England team are pleased to share the January edition of our new Retirement Times. This issue covers why CFOs should consider partnering with a Retirement Plan advisor and the importance of keeping beneficiary information updated. Read More
Tax Efficiency: It’s Not What You Earn; It’s What You Keep
As a general rule, the more money you make, whether in work generated income or capital gains, the more you will pay in taxes. But rules are meant to be broken, and there are ways to mitigate tax losses with the right planning and advice. The after-tax return vs. the pretax return. Everyone wants their… Read More Read More
Considerations for Tax-Advantaged Accounts in Response to COVID-19
The evolving COVID-19 pandemic continues to impact businesses and their employee benefit plans in unexpected ways. Here, we outline recent changes to tax-advantaged accounts like FSAs, HSAs, and HRAs, as well as areas where employers have some flexibility to respond to the current emergency. View the article here. Read More
Families First Coronavirus response Act: What Employers Need to Know
On Wednesday April 1st, following a 363-40 vote in the House and a 90-8 vote in the Senate, President Trump signed a multi-billion dollar emergency economic relief bill – H.R. 6201, the Families First Coronavirus Response Act (the “Act”) – into law to help combat the COVID-19 pandemic which ensures free testing, provides paid sick… Read More Read More
A Better Way to Give: Donor Advised Funds Auditing Your Donors to Maximize Donations for Your Not-For-Profit
Many people believe in giving back, but under the new tax laws, it may not be as tax advantageous as it used to be. With the steady appreciation in the stock market – the longest bull run in history – some folks have achieved a level of wealth they never imagined. Our Charitable Strategies work… Read More Read More
How Will the SECURE Act Change the Way You Plan for Retirement?
On December 20th, 2019, new legislation was signed into law as part of a larger government spending package that promises to have wide ranging and lasting effect on saving for retirement. Called the Setting Every Community Up for Retirement Enhancement (SECURE) Act, the legislation includes many long-sought common-sense reforms that could make retirement saving both… Read More Read More
Student Loan Repayment as Employee Benefit
According to recent statistics, there are now more than 44 million unique borrowers who collectively owe $1.6 trillion in student loan debt—making student loans the second largest consumer debt category after mortgages. Those are staggering numbers. For the considerable Millennials and massive Gen Z workforce to follow, student loan debt is a primary economic concern,… Read More Read More
AALU: Better Together – The Importance of Collaboration Among Client Advisors When Acquiring Life Insurance (With Case Study)
The purchase of life insurance products and their implementation into a client’s broader legacy planning strategy requires clients to navigate through a complex web of financial and cashflow management strategies, transfer tax considerations, and tax reporting obligations that must be approached differently on a client by client basis. Failure on the part of advisors to work… Read More Read More
Do You Know Where Your Money is And What it is Doing?
As 2019 closes and a new year starts with a fair amount of uncertainty, it is a good idea to take stock of your financial situation. While markets have been going strong and the economy seems largely sound, upheaval in both domestic and world politics, an increasingly fragile interaction with the environment, and uncertainty in… Read More Read More
Mega Backdoor Roth Conversion Primer
Background There is growing interest in a design strategy known as the Mega Backdoor Roth Conversion (the Conversion). The Conversion allows 401(k) or 403(b) Plan participants who are already deferring the maximum allowed to contribute After-Tax funds to the plan. The participant may then convert the money from After-Tax funds to Designated Roth funds. This… Read More Read More
Medicare Coverage: What to Expect, How to Enroll, and Will you Need Supplemental Plans for Retirement
/// Posted byAviva Sapers & Peter Stoner Whether your 65th birthday is fast approaching or decades away, it pays to understand the basics of how Medicare works and what it does and does not cover—and then plan accordingly for any additional coverage that you may need in retirement. Enrolling in Medicare can be more complicated… Read More Read More
Podcast Q&A: Medicare Coverage: What to Expect, How to Enroll, and Will you Need Supplemental Plans for Retirement
Aviva Sapers, President and CEO of Sapers & Wallack, and Peter Stoner, President and CEO of Stoner & Company, answer questions about our October blog ‘Medicare Coverage: What to expect, how to enroll, and will you need supplemental plans for retirement’. Read More
Why Retirement Planning Must Account for the Rising Cost of Healthcare
For most Americans in 2019, the idea of retirement is associated more with a sense of anxiety than the promise of relaxation it once inspired. Have I saved enough? When should I stop working? Will I have a guaranteed source of income? And more than ever before, how can I plan for the rising costs… Read More Read More
Podcast Q&A: Why Retirement Planning Must Account for the Rising Cost of Healthcare
Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers questions about our September blog, “Why Retirement Planning Must Account for the Rising Cost of Healthcare” Read More
AALU: Watch Your Step: Fiduciary Pitfalls for Trustees of Irrevocable Life Insurance Trusts.
A trustee’s job in administering a trust can be unexpectedly treacherous, especially in the context of an ILIT and the management of its life insurance portfolio. Clients frequently turn to family and friends to fill this important role, since many financial institutions will not serve as trustees of an ILIT only funded with life insurance. … Read More Read More
Why a Family Succession Plan is Important
It’s a storyline played out in best-selling books, movies and TV dramas: the successful family that’s torn apart after the death of the matriarch or patriarch and transition of the business and other assets. This isn’t the stuff of fiction. A succession plan addressing how to take care of your family business—and your relatives who… Read More Read More
Roth Conversions for Retirement
On average, Americans are living longer than ever before. This reality has complicated the planning and saving stage of retirement as we struggle to secure enough income to cover our needs for the duration of our lifetime. One increasingly critical tool of financial planners for retirees is the use of Roth IRA conversions. A Roth… Read More Read More
Retirement Times July 2019
The July issue of Retirement Times lets Fiduciaries know what their summer homework is! Hey Joel! – a recovering former practicing ERISA attorney answers this question: One of my current employees recently received a notice from Social Security saying that they might be entitled to a retirement benefit. Is it my responsibility to track this… Read More Read More
How to Not Outlive Your Income
After extensive polling, the number one concern for most retirees is outliving their income. Much of today’s workforce do not have enough to guarantee success in retirement, and a recent study found that the average median savings of millennials is only $8,000—promising that adequate saving for retirement will be a problem for a long time… Read More Read More
The New Paid Family Medical Leave Law in Massachusetts
In 2018, Massachusetts signed into law a statute that provides paid family and medical leave (PFML) benefits to workers. Massachusetts becomes only the sixth state, along with the District of Columbia, to require paid leave. The state has yet to issue final regulations, but they did provide updated draft regulations at the end of March.… Read More Read More
AALU: Out with the old, in with the new – revitalizing or unwinding existing ILITs.
With recent changes in federal gift and estate tax exemptions, many clients may want to take a new look at their old irrevocable life insurance trusts (“ILITs”). In trust planning, irrevocable no longer means inflexible. Keeping this in mind, clients and advisors should review existing ILITs and weigh the trust’s potential practical benefits against… Read More Read More
Retirement News April 2019
The April issue of Retirement Times sees Michael Viljak discussing 10 reasons to roll over into your plan, versus an IRA. There is also a section on Loss Aversion and Fighting Fear. Joel Shapiro takes part in a Q&A about whether we should consider life insurance in our retirement plans. Read the entire April issue… Read More Read More
AALU: Spousal Lifetime Access Trusts (SLATs) and Divorce – what you don’t know …
SLATs have become increasing popular in legacy planning for married couples but may have unanticipated consequences if the marriage ends. Per Notice 2018-37, the IRS plans to issue future guidance that could impact the income taxation of SLATs post-divorce. Regardless, clients and advisors should be proactive in addressing these issues when planning with SLATs. New SLATs… Read More Read More
Retirement Times March 2019
The March issue of Retirement Times contains information about the Dept. of Labor’s Relief Guidance for Victims of California Wildfires, with specific guidance in the areas of loans & distributions and participant contributions and loan repayments. Joel Shapiro takes part in a Q&A about conducting an RFP for an ERISA attorney. Read the whole issue… Read More Read More
Retirement Times Feb 2019
This month our Retirement Times looks at repaying student loans or saving in a retirement plan – or both! And our Q&A section with Joel Shapiro focuses on the risks for late 5500 filings. February’s Retirement Times contains so much useful & interesting information. Read More
Retirement Times Jan 2019
The Sapers & Wallack / Hilb Group of New England team have developed a great new way of sharing information with you – we are happy to share the January edition of our new Retirement Times. This issue covers cyber fraud and safety as well as a Q&A section from Joel Shapiro – a former… Read More Read More
Cyber Security: It’s a Nightmare Scenario
On March 22, 2018, the city of Atlanta’s website was hit by a ransomware cyberattack. Residents couldn’t access online applications or pay water bills and parking tickets. Court proceedings were cancelled. An estimated ten years’ worth of documents, including police dash cam recordings, were lost. It was five days before city government employees could turn… Read More Read More
Podcast: Q&A on “Cyber Security: It’s a Nightmare Scenario” with Cristie Hanaway
Cristie Hanaway, Senior Vice President of Property & Casualty at the Hilb Group of New England, part of the Sapers & Wallack organization, answers questions about our April blog, “Cyber Security: It’s a Nightmare Scenario“. Listen to our podcast here: Read More
AALU: Select Insights from the 2019 Heckerling Institute on Estate Planning
Presenters at the 2019 Heckerling Institute on Estate Planning highlighted the continuing ripple effect of the TCJA on planning, including the release of several regulations designed to implement TCJA provisions (including pass-through entity taxation and estate tax “claw back”), the allocation of the higher generation skipping transfer (GST) tax exemption to pre-TCJA transfers, and the… Read More Read More
What is a Roth IRA and Why Do I Need One?
There’s a lot to like about investing in a Roth IRA, Roth 401(k) or Roth 403(b), especially if you’re young or expect to be in the same (or higher) income tax bracket when you retire. Any money you invest in a Roth grows tax-free—even when you cash out in retirement—and it can be invested in… Read More Read More
Podcast: Q&A on “What is a Roth IRA and Why Do I need One?” with Scott Tuxbury
Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers 3 questions about our March blog, “What is a Roth IRA and Why Do I need One?” Listen to our podcast here: Read More
Reimagining Retirement Distribution Planning
Retirement distribution planning is not what it used to be. People are living longer, cost of living expenses are on the rise, and healthcare costs are easily outpacing wage increases and the market. Now, more than ever, creating and sticking to a thorough retirement savings plan is necessary to ensure that your latter years and… Read More Read More
Podcast: Q&A on “Reimagining Retirement Distribution Planning” with Scott Tuxbury
Scott Tuxbury, Vice President and Leader for the Retirement and Wealth Management Practices at Sapers & Wallack answers 3 questions about our February blog, “Reimagining Retirement Distribution Planning”. Listen to our podcast here: Read More
IRS Contribution Limits 2015-2019
The Sapers & Wallack Retirement Team has developed an IRS Contribution Limits one pager to assist with any questions you might have. This is a great resource tool for you to keep on file in the event you or someone from your firm has questions about not only what the limits are in 2019 but… Read More Read More
Universal Life Insurance: A Rebuttal
‘Universal Life Insurance, a 1980s Sensation, Has Backfired’ “A long decline in interest rates caused premiums to soar when they were supposed to stay level.” – Wall Street Journal As soon as I read this headline in the Wall Street Journal I was surprised by how misleading it was, and decided to write a response. … Read More Read More
November is Long-Term Care Awareness Month
Long-term illnesses are very challenging emotionally, physically, and especially financially. I should know, as I have lived through 3 grandparents, 2 in-laws, and one mother who all needed or still need care. It is difficult to watch those you love lose the ability to do for themselves, and to experience the toll it takes on… Read More Read More
Is There a Better Option for College Savings than Using a 529?
Many people feel that the most cost effective way to fund college for their kids is by contributing to a 529 plan. The benefits are: All earnings grow tax free and are distributed tax free if used for qualified education expenses 30 states offer full or partial deduction – Not MA Owner can change beneficiaries and… Read More Read More
Retirement in the Age of Rising Health Care Costs
Most people make a concerted effort to plan and save for retirement, but many fail to account for the projected toll that health care costs will take on their mandatory expenses throughout their retirement. There is a common misconception that savings will be enough to cover living expenses while Medicare can cover health care related… Read More Read More
Have you Protected your Property, Employees, and Reputation?
Whether you’re the owner of a small business or involved in risk management for a national organization, the right Property and Casualty coverage can have a huge impact on protecting your business against unforeseen events. P&C Insurance exists to safeguard the buildings, vehicles, and people that make up your business structure, but P&C coverage can be… Read More Read More
Five Ideal Summer Action Items
Have you ever come home from a trip with a renewed perspective? Sometimes the very activities designed to help us relax can also work to free the mind so we can more easily prioritize what needs to get done. Here are five goals that can be great to achieve during the rest of the summer. Click… Read More Read More
Unclaimed Retirement Benefits
Unclaimed Retirement Benefits: Do you have money lost in old 401(k)s and pensions? There has been a wave of reporting over the last few years around the vast sums of money in unclaimed accounts in the US. Millions of Americans have forgotten or are completely unaware of money in their name from government payouts, bank… Read More Read More
Termination Death Benefit for Large Corporations
Termination Death Benefit for Large Corporations: How Not to Lose Benefits to Taxes, While Insuring Recovery of Accrued Liabilities It is a hard, somewhat morbid, topic to face, but the death of business executives at large companies is a financially fraught time for both the company and family of the executive alike. The financial payout… Read More Read More
Aviva Sapers shared her insights about board memberships at Bentley University
Aviva Sapers shared her insights about board memberships at Bentley University Our CEO Aviva Sapers provided her extensive experience in the area of board memberships as a panelist in Bentley University’s Executive Education program. Together with panelist Roberta Sydney, she discussed how she got on the boards she currently serves on, what the benefits of… Read More Read More
Aviva Sapers discusses most important lessons for women in leadership
Aviva Sapers discusses most important lessons for women in leadership Our CEO Aviva Sapers is cited in a new piece by Webster Bank, discussing ‘What Successful Women Already Know – 6 Hard-Won Lessons from Leading Women in Business’. Her number one takeaway, success is always rooted in collaboration: ‘I’m more consensus-driven than dictatorial. Being collaborative helps get… Read More Read More
Will Debt Spoil Too Many Retirements?
What pre-retirees owe could compromise their future quality of life. The key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings along the way. Another possible point for that list: pay off as much debt as you can before your “second… Read More Read More
Beware of One of the Most Costly “FREE” Employer Provided Benefits, Otherwise Known as the Fallacy of Group Term Life Insurance
One of the bread-and-butter staples of a well-conceived employee benefit program is the classic group term life insurance. You join a company, fill out a beneficiary form, and voila, you are provided with group term life insurance equivalent to a multiple of salary, such as two times annual earnings. You don’t think much of this… Read More Read More
We did it again! Sapers & Wallack wins The FBA Family Business of the Year Award
We did it again! Sapers & Wallack wins The FBA Family Business of the Year Award We are proud and honored to announce the win of another prestigious award in the family-business space. Sapers & Wallack has been recognized as the 2017 Family Business Association’s Family Business of the Year in the Small Business Category! In addition,… Read More Read More
Aviva Sapers speaks at Boston Chamber of Commerce’s Thrive conference for small businesses
Aviva Sapers speaks at Boston Chamber of Commerce’s ‘Thrive’ conference for small businesses The Boston Chamber is passionate about the advancement of small businesses and hosts ‘Thrive’, the conference for small businesses in Boston on Oct. 26th. Our principal and CEO, Aviva Sapers, was invited to share her expertise and experience about the best ways… Read More Read More
Aviva Sapers will discuss family business issues at this year’s FBA conference
Our president and CEO Aviva Sapers will provide guidance and insights to family-owned businesses as a speaker on 2 panels of this year’s Family Business Association’s Conference. She will discuss “Management Issues & Transitioning Family Businesses: Governance, Organization, Pay and Other Key Aspects for the Next Leaders” and ‘How Advisors Will Guide You Through the… Read More Read More
S&W team members volunteered at Tufts Health Plan 10K for Women
S&W team members volunteered at Tufts Health Plan 10K for Women 4 of our team members spent their Monday morning assisting hundreds of runners before and after their run, supporting the motto of this year’s run “Start Strong, Finish Stronger”. Our partner Tufts Health Plan organized this amazing event for the 41st time, bringing together more than… Read More Read More
Big win for the S&W Retirement Plan Consulting team – chosen as Top DC Advisor firm 2017
Big Win for the S&W Retirement Plan Consulting Team – Chosen as Top DC Advisor Firm 2017 Our Retirement Plan Consulting Team is celebrating a prestigious industry recognition, being named one of the top retirement advisors in the country by the National Association of Plan Advisors (NAPA). “Since their inception, NAPA’s various industry lists have… Read More Read More
Are You In Danger of Outliving Your Life Insurance Policy?
When individuals purchase permanent insurance (whole life, universal life, variable life), as opposed to term insurance, the expectation is that the policy will remain in force as life insurance until death of the insured. However, due to a marked increase in longevity, many are likely to survive to the end of the mortality tables on… Read More Read More
AALU: Breathing New Life into Old Trusts
Trust decanting allows a trustee to transfer assets from an existing irrevocable trust to a different irrevocable trust and may be used to address a wide array of issues, including correcting drafting errors, changing distributions standards or beneficiary powers of appointment, amending administrative provisions, and updating fiduciaries and their powers. In years past, irrevocable trust… Read More Read More
AALU: Gift Disclosure Memo
In Office of Chief Counsel Memorandum FAA 20172807F, the IRS Chief Counsel stated that the three-year limitations period for gift tax assessment remained open indefinitely for a donor’s gifts where the donor (i) failed to file federal gift tax returns disclosing gifts made in each of six different tax years and (ii) filed a gift… Read More Read More
AALU: Changing the Situs of an Irrevocable Trust
Careful navigation is required while changing a trust’s situs As states vie for trust business by offering more exclusive benefits, new life can be given to old trusts by moving to a jurisdiction with more robust trust laws (a so-called “situs change”). Long-term irrevocable (dynasty) trusts can become inefficient over time. Moving the trust to… Read More Read More
AALU: Avoiding 5 Common Mistakes in Life Insurance Planning
Avoiding 5 Common Mistakes in Life Insurance Planning As estate planning involving personal life insurance becomes commoditized, so does the chance that a minor oversight will have a major tax impact. According to experts, some of the most common mistakes in life insurance planning include: (1) failure to qualify gifts to irrevocable life insurance trust… Read More Read More
Everyone Needs an Estate Plan!
Make sure your plan matches your stage in life Most people do not like thinking about their own death or the death of family and friends. Benjamin Franklin famously wrote: “… in this world nothing can be said to be certain, except death and taxes.” Simply stated, the reason to have your own estate plan… Read More Read More
Summer: An Unlikely Time for Changing CPAs
Last year my husband and I knew there was something wrong with our boiler, in the basement of our house. We knew this because we lost heat in the house during the winter – twice. We learned that repairing it would involve dismantling part of it and having no heat for a day. Our plumber,… Read More Read More
How 529 Plans Can Help Take the Bite Out of the College Price Tag
Every May, years of all-night study sessions and grueling examinations endured by thousands of young men and women culminate with graduation and the receipt of a four-year college degree. While more and more young men and women are attending college, the cost to attend continues to skyrocket. The Institute for College Access and Success reports… Read More Read More
AALU: The Risk of Proprietary Life Insurance Products
The Risk of Proprietary Life Insurance Products – For Clients, Distributor and Insurer While some producer groups tout the benefits of “proprietary products” in their marketing and sales process, these products are certainly not a case of tails I win, heads you lose. With the focus in today’s world on customization and bespoke products, proprietary… Read More Read More
AALU: Estate Freeze Series – Installment Sales to Grantor Trusts
It’s Déjà Vu: Planning (Again) in the Face of Uncertainty – Estate Freeze Series: Installment Sales to Grantor Trusts. With low interest rates and uncertainty persisting, estate freeze techniques, like installment sales to grantor trusts (ISGTs), continue to play a key role in legacy planning. The ISGT transfers appreciating assets to the next generation without… Read More Read More
AALU: Estate Freeze Series – Zeroed-Out GRATs
It’s Déjà Vu: Planning (Again) in the Face of Uncertainty – Estate Freeze Series: Zeroed-Out GRATs Zero-gift planning techniques, like zeroed-out grantor retained annuity trusts (GRATs), have taken on renewed importance in legacy planning as a way to remove assets from the estate and preserve the federal unified credit for later income tax (basis) planning,… Read More Read More
AALU: Change Life Insurance Beneficiaries Post-Divorce
Forget Something? Make Sure to Change Life Insurance Beneficiaries Post-Divorce. It is very commonplace for life insurance beneficiary designations to be overlooked or even forgotten. Proper legacy management requires updating life insurance beneficiary designations following divorce. Typically, after divorce, individuals no longer want their former spouses to receive life insurance death benefits. In many cases,… Read More Read More
International Women’s Day: Your Financial Future Matters – Resolve to Be 10% More Engaged
It’s International Women’s Day, and I have been thinking about how financial advisors interact with women, especially when those women are one half of a couple, and how I wished both advisors and women would behave differently. I’ve been to several conferences in recent years, where I find myself in hotel ballroom, listening to a… Read More Read More
Leadership Lessons learned from Bill Belichick
The Superbowl excitement is behind us and we all celebrated the success of the New England Patriots during the famous Duckboat Parade. The continuous success of this team is possible with a great leader at its helm: Bill Belichick. The way he leads and assembles a first class team year after year provides valuable lessons… Read More Read More
Sapers & Wallack merges its group benefits firm into Hilb Group
Sapers & Wallack merges its group benefits firm into Hilb Group Sapers & Wallack’s merged its group benefits division into the Hilb Group, LLC, effective February 1, 2017. As part of the transaction, the group benefits division with all of its current employees will join THG’s New England employee benefits operations, led by Rob Calise. Tom… Read More Read More
Gifts in Perpetuity
Wooing, educating, maintaining annual gifts for Charitable Institutions is “tough business” for the thousands of fund raisers working desperately to meet ever increasing costs. Most annual gifts are the product of endless meetings, dinners, phone calls, tours and creative discussions. Once a donor has bought into the needs of the institution, there is an annual… Read More Read More
Understanding Recent COI Increases
COI Charges have historically been an uncommon, or even untouched, element that life insurance carriers have adjusted in response to financial pressures. While there have been limited instances of increases in the past 30 years, in 2015 and 2016 several carriers applied increases to COI Charges of certain blocks of in-force policies, mostly consisting of… Read More Read More
Sapers & Wallack participates in the ‘Be InspiRED’ campaign to promote the National Go RED for Women Day!
February is American Heart Month, and Sapers & Wallack will take part in the National Go RED for Women Day on February 3rd. The Go RED for Women Day helps to raise awareness about the women’s heart disease epidemic while promoting education and essential lifestyle choices to reduce risk factors. The Sapers & Wallack… Read More Read More
Sapers & Wallack participates in the ‘Be InspiRED’ campaign to promote the National Go RED for Women Day!
Red is the color of choice for the Sapers & Wallack team these days. This is not the newest fashion trend around Newton, but a cause close to the heart for all of our team members: women’s health. We are proud to participate in the national Go RED for Women Day on February 3rd to… Read More Read More
The time is now: Make your annual IRA contribution
Happy new year! Now that the holidays are over and all those new year’s resolutions have almost been broken (come on, admit it), here’s something you can do to help your long-term financial situation: make your IRA contribution now. I’m not referring to prior year’s contributions (which you can make until April 15th of the current… Read More Read More
Oxfam Case Study – Finding the best solution to retain talent
Oxfam America is known worldwide to “create lasting solutions to poverty, hunger, and social justice.” The non-profit is not only leading the efforts to find new ways to fight hunger, but also re-defines internal organizational structures. To attract and retain its highly skilled leadership, Oxfam America started a customized executive benefit restoration initiative and chose… Read More Read More
AALU: Trust Advisor Powers
Who’s Who – Are Trust Advisors Fiduciaries? Does It Matter? Clients are hearing much more about terms like trust protectors, investment advisors, and business directors. As the sophistication of irrevocable trusts increases, so too does the use of these so-called “Trust Advisors,” who have the authority to direct the trustee’s actions. As more clients decide… Read More Read More
Case Study: Oxfam – Customized Executive Benefit Solution
OXFAM AMERICA is a global nonprofit organization that works throughout 90 countries in an effort “to create lasting solutions to poverty, hunger, and social justice.” In March 2012, Oxfam implemented the Executive Benefit Restoration Allowance plan to make the executive retirement benefits competitive. The prior plan design provided 2 annuity options geared towards retirement but… Read More Read More
AALU: Malpractice Suit Against Trustees
Malpractice Suit Against Trustees Who Failed to Inform Beneficiaries of Potential Policy Lapse The successor trustees and beneficiaries of a family trust sued a Michigan lawyer for malpractice in her handling of a policy owned by the trust when she was the trustee. The lawyer sought coverage from her malpractice insurer, but it denied her… Read More Read More
New Video: Long Term Disability Insurance
The year comes to an end and we enjoy the time with family and friends during the holiday season. But many also ask themselves important questions: what happens if this idyllic gathering won’t be possible in the future? What if a family member becomes disabled or ill? Read More
Intelligent Charitable Giving
Charitable Giving is an important topic for us at Sapers & Wallack year round, but especially during the holiday season when the needs of so many come under heightened focus. My family and I remain active supporters of many charities in the Boston area. We give as much as we can to those in need,… Read More Read More
Defined Benefit Plans – A Wealth Accumulation Strategy for High Income Business Owners
With the end of the year approaching, now is the time for high income earners to assess whether a defined benefit plan makes sense. A defined benefit plan allows the highest deductible contributions of any retirement plan. This plan allows you to save for retirement on a tax-deductible basis. Investments made within the plan grow… Read More Read More
Group Term Life Insurance Table 1 Costs
The end of the 2016 tax year is an appropriate time to review the procedures to determine imputed income on group term life insurance. Many employers provide group term life insurance plans at no premium cost to employees. The value of the first $50,000 of employer-provided benefit is excluded from the gross income of… Read More Read More
Aviva Sapers and Jude Sydney to be honored at JCHE gala for their outstanding support
Giving back to her community has always been important to our CEO Aviva Sapers and her family. She is involved with many non-profits and has made charitable giving an important part of our company culture. Sapers & Wallack donates 1% of its revenue at a minimum of $100,000 per year to charities such as the… Read More Read More
Webinar: Long Term Care
New Webinar: Long Term Care Long Term Care is one of the most important topics when it comes to your personal financial planning. It takes just one unforeseen accident or illness to put your family’s financial future at risk. Watch our latest webinar to make sure you’re covered when the unforeseen hits you. Read More
Video: Long Term Disability Coverage
Do you have enough disability insurance coverage? Learn more about your options when it comes to long term disability insurance in this video and on our dedicated long term disability page. Purchased to mitigate the risk of unfortunate surprises in your working years and fill the gaps left in work-based policies, these policies safeguard your… Read More Read More
Video: Long Term Care Insurance
In this video, we are going back to the basics and explain what Long Term Care (LTC) Insurance is, what it covers and why people need it. Learn more about the topic on our Long Term Care Insurance page with a LTC shopper’s guide, tools and calculators and a webinar that walks you through all… Read More Read More
Non-Profit Growth
During the downturn in the economy, the large non-profit sector was instrumental in helping to maintain jobs in the greater Boston area. According to federal data, over 17% of all Massachusetts jobs come from the non-profit sector. During the downturn, when most other businesses were downsizing or laying off workers, our non-profits created 16,765 jobs.*… Read More Read More
Webinar: Long Term Care
Long Term Care is one of the most important topics when it comes to your personal financial planning. It takes just one unforeseen accident or illness to put your family’s financial future at risk. Aviva Sapers, CEO of Sapers & Wallack and Nancy MacDonald, VP Executive Benefits at Sapers & Wallack take a… Read More Read More
Webinar: Overlooked Financial Details in Today’s Households
Karen Van Voorhis, CFP, Vice President of Wealth Management hosted a webinar to help you avoid the common pitfall of not being engaged with your overall financial picture! She shared 15 “nuggets” to shore up your financial situation, such as checking on benefits at work, getting more life insurance, understanding your investments better, and putting an… Read More Read More
Sapers & Wallack’s Karen Van Voorhis quoted in Bob Veres ‘Inside Information’
Sapers & Wallack’s Karen Van Voorhis quoted in Bob Veres ‘Inside Information‘ Karen Van Voorhis, Vice President of Wealth Management was recently quoted in the September 2016 of Bob Seger’s Inside Information newsletter. When discussing the process of simplifying household finances, Karen takes on the role of household CFO for her clients, and that requires… Read More Read More
Sapers & Wallack hosted Financial Wellness Webinar
Sapers & Wallack hosted Financial Wellness Webinar: Commonly Overlooked Financial Details in Today’s Households Karen Van Voorhis, CFP, Vice President of Wealth Management hosted a webinar to help you avoid the common pitfall of not being engaged with your overall financial picture! She shared 15 “nuggets” to shore up your… Read More Read More
Recorded Webinar Financial Wellness: Commonly Overlooked Financial Details in Today’s Households
Recorded Webinar Financial Wellness: Commonly Overlooked Financial Details in Today’s Households Many of us know that we’re not fully engaged with our overall financial picture or aware of the potential we can reach with our earnings and savings. It’s time for us all to have ownership and understanding of our financial futures. Avoid the common pitfall… Read More Read More
What can be Done with Old Life Insurance Policies?
The world of life insurance has changed. A secondary market has come of age in which investment pools are willing to purchase policies from others who are old or sick, and either don’t want the policies or can’t afford to pay the premiums anymore. Usually the policies are salable if the insured has an estimated… Read More Read More
Sapers & Wallack Wins Family Business of the Year Award!
We Won! We are thrilled and honored to announce that SAPERS & WALLACK has been recognized as the 2016 Northeastern University’s Massachusetts Family Business of the Year in the Small Firms Category! Congratulations to our whole team for helping to elevate our firm for over 80 years of service in a holistic approach to financial… Read More Read More
Why so many Charitable Gift Annuities are Underwater…
Although many institutions that have offered CGAs to donors are concerned about the natural extension of life expectancy, or that a large number of female CGA donors could offset the life expectancy experience–increased longevity has not been the major factor of CGA failures. Read More
Sapers & Wallack: Finalist in 2016 MA Family Business of the Year Awards!
Congratulations to our team here at Sapers & Wallack on being chosen as a finalist in the Northeastern University 2016 Massachusetts Family Business of the Year Awards! Being chosen as a finalist says something special about our family business and we are honored to be recognized at this stage of the competition. The winners will… Read More Read More
Student Loan Repayment Plans – Good for Millennials and Baby Boomers!
It has been a while since a new employee benefit has made such a splash in such a short time. More and more employers are looking at adding a student loan repayment program to their employee benefits. Two very large employers, Fidelity and Pricewaterhouse Coopers are launching these programs this year, and many other smaller… Read More Read More
Sapers & Wallack is on the Move!
Our Office is Moving, May 1st! Same Building, First Floor, Suite 110 Sapers & Wallack is excited to announce that our offices will be relocated on May 1st! We will still be found at 275 Washington Street, Newton MA, but we will now be located on the first floor – SUITE 110 – immediately to… Read More Read More
eMoney Vault Checklist
eMoney vault, a digital storage platform, enables us to exchange and share documents with clients, their CPAs and estate planners in a secure way. Financial Planning magazine called it a “lock box in the clouds that provides peace of mind.” Take a look at the Vault Checklist here. If you would like more information on… Read More Read More
Economic Recap Q1 2016: Important Factors and Events Shaping US Economy
Markets Stop, Drop, Roll…And Rebound SEI gives a breakdown of important factors and events that have helped to shape US economic standing for the first-quarter of the year: Despite the dramatic equity market selloff (and recovery), one of our bedrock assumptions is that a global recession remains unlikely. Another bedrock assumption is that central-bank policy… Read More Read More
What to use: Family Foundations vs. Donor Advised Funds
Many wealthy families consider creating Family Foundations (FF) to secure a legacy of giving and to perpetuate philanthropy as a family value. A common question that arises, is whether a Family Foundation is a more appropriate vehicle for multi-generational giving than a Donor Advised Fund (DAF)? I think it’s worth looking at the advantages and… Read More Read More
Leaving a Vacation Home to the Next Generation: Does it Lead to Family Harmony?
As someone who has been in the estate planning world for 30 years I have had many clients ask for creative ways to leave vacation homes to their kids and grandkids while minimizing taxes. With that in mind, there are some great techniques, from QPRT’s to LLC’s, to pass assets down at discounted values, which… Read More Read More
What Makes for an Award Winning Wellness Program?
The Boston Business Journal recently announced 23 finalists for its fifth-annual Healthiest Employers program, which will be held March 12 at the Westin Waterfront in Boston. Employee wellness has become an important facet of overall corporate culture, and should not be overlooked as an important component of the workplace. As such, it seems like a… Read More Read More
Thomas P. Connors, Jr. Joins Sapers & Wallack as President of Group Benefits
Sapers & Wallack, a Newton-based insurance, benefits, and wealth management firm, is pleased to announce the arrival of Thomas P. Connors, Jr. as President of Group Benefits. Tom’s passion is working with corporate customers to guide their decisions as their trusted advisor. Using his problem solving skills, economic acumen, and creativeness, he and his team… Read More Read More
Economic Outlook Q4 2015: The Ongoing Challenges for Investors
More of the same in 2016…With a Little Less Certainty SEI gives a breakdown of important factors and events that have helped to shape US economic standing for the end of the year, as well as speculate as to how said factors will govern economic expectations moving ahead into 2016. Read the summary here or the… Read More Read More
Cadillac Tax: Delayed until 2020
The Cadillac Tax has been Delayed Until 2020 – What is the Next Step for Employers? Congress passed and President Obama signed a $1.1 trillion spending bill on December 11, 2015. An important part of that legislation for the employer community is the fact that the so called “Cadillac tax” implementation has been delayed until… Read More Read More
Investment Fundamentals December 2015: Federal Funds Rate
SEI provides a concise overview of the Federal Funds Rate, how it’s determined, and what it means for you. The federal funds rate is an interest rate set by the Federal Reserve for borrowing and lending between major banks. The FOMC’s strategy around setting the target federal funds rate requires a delicate balancing act. Changes… Read More Read More
AALU: Charitable Giving Approaches Using Life Insurance
A Few Simplified Charitable Giving Approaches Using Life Insurance As clients search for ways to make their year-end charitable contributions, a gift of life insurance may be an easy solution. A life insurance policy is easily transferable and, among other benefits, can provide a fixed-value gift with minimal administrative requirements, financial flexibility for the donor,… Read More Read More
S&W at Cradles to Crayons
On a Tuesday around 1pm, you would typically find Sapers & Wallack employees either working diligently at their desks or away at client meetings…but not this day! On October 27th, our whole office could be found at the Cradles to Crayons Giving Factory in Brighton, MA. It is here where we would continue on our… Read More Read More
Long Term Care Planning Options
Sometimes it’s nice to have the basics laid out on one simple chart. We have attempted to provide just that with LTC Alternatives. Traditional Long Term Care Life Insurance with Long Term Care Rider Life & LTC Hybrid Insurance Self-Insure Life Insurance with Return of Premium Rider Visit our Long Term Care Insurance page and learn… Read More Read More
Today’s Long-Term Care Coverage: Understanding the Fine Print
Recognizing the changing priorities and pitfalls of today’s long-term care needs, National Financial Partners has created this document to explore the intricacies of various LTC products with a keen eye toward Understanding the Fine Print. Pressures on Traditional LTC Hybrid/Linked benefit LTC Policies LTC Riders Accelerated Death Benefit for Chronic Illness Riders The Fine Print Contact… Read More Read More
A shoppers guide to LTC Insurance (NAIC)
Put together by The National Association of Insurance Commissioners (NAIC), A Shoppers Guide to LTC Insurance was designed to help you answer: What is long term care? Who needs long term care? What are the various insurance options to help pay for it? When does it make sense to buy? Contact us to learn more about how our… Read More Read More
Get rewarded for a healthy lifestyle with insurance premium savings
Do you want to save up to 15% on your life insurance cost? There is a new paradigm in the world of life insurance that will change the way people think about this product. Leading life insurance companies have developed a unique solution that rewards clients for living a healthy life. In fact, the healthier… Read More Read More
Long Term Care Insurance – A Personal Story
Perhaps the best way to communicate about the importance of Long Term Care insurance is to share a personal story – my story. The story about the decline and ultimate death of my own father. It’s hard to talk about something so private in such a context, but that’s the point—LTC insurance comes into play… Read More Read More
S&W Hiring Sales Consultant/Business Development
Sapers & Wallack is seeking to expand its staff with a sales associate to build long-term relationships with our customers, helping them navigate our full range of investment, insurance, and executive and employee benefit products and services. If you are interested in joining our team, learn more about the role and how to apply. Read More
AALU: Crummey Powers Instrumental in Funding Irrevocable Life Insurance Trusts
Crummey Powers – Crummy or Essential? It’s More Than Just Moving Paper Crummey powers are instrumental in funding irrevocable life insurance trusts (“ILITs”) with annual exclusion gifts. Annual exclusion gifts can help clients substantially fund ILITs while preserving their lifetime gift and estate tax exemption amounts. Qualifying a gift in trust as an annual exclusion… Read More Read More
Retirement Newsletter June 2015: Target-Date Funds
In this issue of the Retirement Report you will find: The Most Important Assumption Regarding Target-Date Funds Current Stresses Eclipse Retirement Planning for Working Millennials Best Practices in Hardship Distributions Company Stock and Fiduciary Considerations Read More
Why Charitable Gift Annuities May Be a Bad Risk for Women’s Schools
It’s well known that women live longer than men. That’s great for women, but not so great for women’s colleges when it comes to the risks surrounding Charitable Gift Annuities. In fact, the combination of longer lifespan of alumnae and underperforming investments could actually be putting women’s colleges at a serious disadvantage. When it comes… Read More Read More
Sapers & Wallack to Participate in 7th Annual Employee Wellbeing Month
Company Joins Leading Organizations Worldwide in Pledging Support to Employee Wellbeing and Creating Healthy, Productive Workplaces and Cultures Newton, MA (June 1, 2015) – Sapers & Wallack today announced it has pledged support for, and will once again participate in, Employee Wellbeing Month, taking place throughout June 2015. This initiative, originally known as National Employee Wellness… Read More Read More
ACA and Mass Sick Pay Lunch Seminar, June 11
Affordable Care Act and Mass. Sick Leave Lunch Seminar Change is coming! Will it affect you and your company? Join us on June 11 at Waltham Woods to hear two experts on the Affordable Care Act explain how new policies will affect your employee health care plans. Timeline: Thursday June 11, 2015Registration opens at… Read More Read More
May is Disability Insurance Awareness Month: How protected are your assets?
The month of May has been designated as Disability Insurance Awareness Month making it a perfect time to ask you the question: Are you covered? In a survey conducted last year by the Council for Disability Awareness, two-thirds of Americans said their salary was their second most valuable asset, yet only three in ten had… Read More Read More
AALU: Understand the Transfer for Value Rule
A Primer on the Transfer for Value Rule Estate and business succession planning often involves life insurance, including transfers of existing policies to irrevocable life insurance trusts (ILITs) or other parties. Understanding the transfer for value rule and its potential tax impact is critical when considering such policy transfers. Death benefits paid under a life insurance… Read More Read More
AALU: Death Benefit Only Plans
Death Benefit Only Plans – Not Dead Yet As income tax rates rise, death benefit only plans can be an appealing way to attract or retain selected key employees. As the name implies, death benefit only plans generally provide death benefits to a current employee’s surviving beneficiaries. These plans typically are: subject to less complex… Read More Read More
Contributing Women: Historic Benchmarks
Charity and “good works” have been part of American identity since before our country’s founding. To commemorate Women’s History Month and International Women’s Day on March 9, we take a look at some women whose charity enabled them to contribute to—and work for—causes they strongly believed in. In 1780, Esther Reed, the wife of the… Read More Read More
AALU: Spousal Lifetime Access Trust
Spousal Lifetime Access Trust (SLATs) The increased gift and generation-skipping transfer tax exemptions provide greater opportunities to benefit future generations during life. A spousal lifetime access trust (a so-called “SLAT”) may provide a helpful solution for clients, who are looking to giving lifetime gifts with the need to retain adequate funds to support their needs.… Read More Read More
Retirement Newsletter February 2015: Employee Communications Strategies
In this issue of our Retirement Report you will find: Is the Oil Price Decline Beneficial to the U.S. Economy? The Hopes, Fears and Reality of Retirement Preparing for a Partial Plan Termination Employee Communication Strategies for All Seasons Read More
Retirement Newsletter January 2015: Is Your Fiduciary House in Order?
In this issue of our Retirement Report you will find: Qualified Plan Governance: Is Your Fiduciary House in Order? Top Five New Year's Resolutions for Retirement Plan Fiduciaries Solutions for a Stressed-Out Nation Improper Handling of Hardship Distributions May Result in Significant Problems Read More
AALU: 1035 Exchanges of Life Insurance Policies
1035 Exchanges of Life Insurance Policies — How Easy Are They Really? Complex tax laws and the emergence of new, more sophisticated life insurance products emphasize the need for life insurance solutions that offer flexibility to adapt to changing circumstances. Internal Revenue Code (“Code”) § 1035(a) allows the exchange of a life insurance contract for… Read More Read More
Smart Ways to Give
Do you typically make charitable gifts at year’s end by writing checks or using a credit card? If so, we would suggest you could increase your giving to be much more tax efficient by creating a donor advised fund (DAF) and donating appreciated assets to that fund. Then you can request the DAF to send… Read More Read More
Retirement Newsletter November 2014: Automatic Enrollment Revisited
In this issue of our Retirement Report you will find: Case Study: Automatic Enrollment Revisited Pension Protection Act of 2006 Restatements Despite Noise, Macro Factors Will Drive Fixed Income Markets Common Misconceptions Read More
AALU WRMarketplace 14-36
Department of Labor (DOL) Issues Updated Guidance for Dealing with Accounts of Missing Participants Under Terminated Defined Contribution Plans The effective termination of a defined contribution plan requires the plan fiduciary to timely distribute ALL plan assets, which can be complicated if certain participants cannot be located. Due to changes in available search vehicles and… Read More Read More
AALU WRMarketplace 14-15
Knowing What You’re Doing: Troubleshooting Common Oversights in Split-Dollar Plans Easily over-looked trouble spots in split-dollar life insurance arrangements and suggestions for how to avoid them include: (1) confirming the availability of term insurance rates used to measure annual economic benefits; (2) filing non-recourse representations for split-dollar loans; (3) using properly drafted collateral assignments for… Read More Read More
AALU WRMarketplace 14-26
Deferred Compensation for Tax-Exempt Organizations (Part I) – Tax Qualified Arrangements To provide deferred compensation using a tax-qualified arrangement, tax-exempt employers can offer the typical 401(k) plan as well as the 403(b) tax-sheltered annuity plan. Although the rules governing 401(k) plans and 403(b) plans have become increasingly similar over time (e.g., similar annual contribution limits… Read More Read More
AALU WRMarketplace 14-30
Deferred Compensation for Tax-Exempt Organizations (Part II) – Non-Qualified Arrangements Internal Revenue Code (“Code”) §457 imposes special rules for non-qualified arrangements maintained by tax-exempt employers. As a result, the employee of a tax-exempt employer may be able to defer less compensation than an employee of a taxable employer for the same period or may be… Read More Read More
Will You Outlive Your Retirement Assets?
As life expectancies continue to rise, coupled with historically low interest rates, the prospect that retirees face of running out of retirement funds is very real. Given the average life expectancy of a 65 year old female is age 90 and with conservative investment portfolios earning less than 3%, the paradox retiree’s face is daunting.… Read More Read More
Quilts & the Art of Investing
While most people use quilts on their beds for warmth and beauty, our Wealth Management team often uses them as symbols of its investment philosophy. Recently, the Museum of Fine Arts, Boston exhibited the Pilgrim/Roy Collection of American Quilts, a breathtaking showcase of hand worked tapestries created by women mostly before the turn of the… Read More Read More
Let’s Cook! Sapers & Wallack sponsors Men of Boston Cook for Women’s Health event
Let’s Cook! Sapers & Wallack sponsors Men of Boston Cook for Women’s Health event Coming October 2nd, our team will put on their aprons and join top Boston chefs to support a very important cause: help raise funds for critical women’s health programs. We are proud to partner with our client Codman Square Health Center again… Read More Read More
Health Care Reform Lunch Seminar October 1, 2014
Health Care Reform Lunch Seminar, October 1, 2014 The Affordable Care Act continues to keep employers on their feet with new regulations and requirements. On October 1st, we discussed important questions in regards to the next step of the Health Care Reform: Am I in the game for 2015 as a large Group Health Plan?… Read More Read More
Aviva Sapers Discusses Being Financially Responsible with Jewish Vocational Services
Aviva Sapers talks finance with July’s Jewish Vocational Services graduates Aviva Sapers gave sound financial advice to a group of graduates from JVS this past July. Among her words of sage advice, Aviva counseled the group on how to take steps towards financial fitness. For example: Credit cards vs. debit cards: When a debit card… Read More Read More
Is Your Company Ready to Report Health Information on Your Employees to the IRS?
The Internal Revenue Service (IRS) has released drafts of the forms that employers will use to report on the health coverage that they offer to their employees in 2015. This reporting is required as part of the Affordable Care Act (ACA). Employers with 100 or more employees (including full time equivalents) are required to provide… Read More Read More
Retirement Newsletter August 2014
In this issue of our Retirement Report you find: What to Expect When Transitioning Providers The Future of Retirement Plans ERISA 3(21) vs. 3(38) Fiduciary A Quick Look at Gap Analysis Communication Corner: Save Early, Reach Your Goal Visit our website at sapers-wallack.com/retirement to learn more about our offers for plan sponsors and individuals and connect with us on our "Team" page. Read More
Resisting the Emotional Spin Cycle
As we look back over the first decade of the 21st century, we can draw one undeniable conclusion – it was a bear of a time for investors. Major market declines from 2000 to 2002 and then again in 2008 dragged equity returns well below their long-term averages. But research will show that, as disappointing… Read More Read More
Retirement Newsletter July 2014
In this issue of our Retirement Report you find: Determining Fee Reasonableness of a Retirement Plan Record Keeper Why Advisors Are Taking a New Look at Collective Investment Trusts Locating Missing Participants Establishing Your Retirement Plan Committee Charter Communication Corner: How Long Will Your Money Last? Visit our website at sapers-wallack.com/retirement to learn more about our offers for… Read More Read More
Retirement Newsletter June 2014
In this issue of our Retirement Report you find: Weathering All Market Conditions One Size Does Not Fit All Understanding Multiemployer Plans Complying with ERISA 404(c) Communication Corner: Your Perfect Match Visit our website at sapers-wallack.com/retirement to learn more about our offers for plan sponsors and individuals and connect with us on our “Team” page. Read More
Why a PEO is Not the Best Place to Purchase Your Employee Benefits.
Many employers turn to a Professional Employer Organization (PEO) to purchase their group insurance benefits. The belief is that the buying power of many employers will be greater than that of a single employer. While there are some economies of scale, the administrative costs of a PEO often offset the higher premiums. Additionally, there are… Read More Read More
Aviva Sapers wins 2014 Outstanding Women of Family Business Award
Aviva Sapers wins 2014 Outstanding Women of Family Business Award Our CEO and President Aviva Sapers received the 2014 award for “Outstanding Women of Family Business”. Presented by The Warren Group in conjunction with Massachusetts Family Business magazine, the New England Family Business Conference and the Family Business Association, the award honors entrepreneurial women who… Read More Read More
Why might you care that June is Annuity Awareness Month?
Because if you are nearing retirement and are looking for a vehicle that could give you the opportunity to receive steady income, immediate annuities ought to be considered. If you are looking to turn some of your investment portfolio from accumulation to distribution, annuities might be used as a vehicle to deliver to your bank… Read More Read More
It is Disability Awareness Month – Are you aware of the financial impact a disability can have for you and your family?
Every minute, 50 individuals suffer a disabling Injury.* Nearly one in five Americans will become disabled for 1 year or more before the age of 65.** 54.5% of personal bankruptcies are the Result of Medical Problems.*** What do these statistics mean for you and your loved ones? Did you know you can you protect yourself… Read More Read More
Retirement Newsletter May 2014
In this issue of our Retirement Report you find: 3(16) ERISA Fiduciary Definition Power of Peer Influence: From Inertia to Action Pass or Fail? Corrective Actions to Remedy Your Test Results Going the Extra Mile: A Deeper Look at the Scorecard Communication Corner: Explore Your Options Visit our website at sapers-wallack.com/retirement to learn more about our offers for… Read More Read More
AALU WRMarketplace 14-19
Letters of Wishes & Other Precatory Guidance in Dynasty Trust Planning Settlors of discretionary trusts can provide vital guidance to trustees in the exercise of their discretionary powers through the use of non-binding (i.e., precatory) language in the trust agreement or the provision of a separate “letter of wishes.” Discretionary dynasty trusts may retain substantial assets… Read More Read More
Wealth replacement: Give $1,000,000 to your favorite charity and provide a greater inheritance for your heirs
Whenever a donor commits to a large gift, whether cash, donation of property, a Charitable Annuity or any other gift of present value, the use of a Wealth Replacement Trust should be discussed. The cash from the tax deduction available to the donor could replace the value of the charitable gift that might otherwise have… Read More Read More
Courageous Retirement Plan Design – It needs bold leadership to get your employees ready for retirement
Given the results of a recent study by the Employee Benefit Research Institute that show only 13% of Americans feel confident that they will have enough money in retirement to live comfortably, the time has come for employers to take a more aggressive approach with the plans they are offering. When we were growing up,… Read More Read More
Retirement Newsletter April 2014
In this issue of our Retirement Report you find: Thoughts on the investment policy statement review DC plan participant perspectives on risk The six categories of fiduciaries A comment about what constitutes proper documentation of retirement plan committee meetings Read More
Employee Benefits Community Forum
Employee Benefits Community Forum, May 7, 2014 Our clients are at the center of everything we do. In 2014, we are excited to bring our community closer together at our Employee Benefit Community Forums. The forums are designed to share best practices, present forward-thinking concepts in employee benefits and retirement plan fiduciary oversight and give you… Read More Read More
Aggressive audit program of health and welfare plans
Aggressive audit program of health and welfare plans The Department of Labor is launching an aggressive audit program of health and welfare plans. Per the attached directive, this comprehensive document and information request needs to be responded to within 10 days of receipt. Are you confident your organization is prepared to withstand the scrutiny of… Read More Read More
Retirement Newsletter March 2014
In this issue of our Retirement Report you find: Information about 3 recommended index funds and the importance to offer fewer funds to drive better participation A comment about the benefits of a qualitative mutual fund review A list of advantages for plan sponsors who consider adopting a safe-harbor design for their retirement plan Explanation about the… Read More Read More
Roth IRA Mirror Plan – A Tax Advantaged Asset Accumulation Strategy
Roth IRA Mirror Plan – A Tax Advantaged Asset Accumulation Strategy Are you paying too much in Federal Income Taxes? Do you want to minimize the impact of higher taxes? Are you looking to accumulate wealth on a tax-advantaged basis? The changes enacted by the Patient Protection and Affordable Care Act (PPACA) affect many types of… Read More Read More
Medicare Support Service
New at Sapers & Wallack: Medicare Support Service Sapers & Wallack is offering a new service to our clients and their employees. The impact of the large number of baby boomers turning 65 has become a burden for many HR departments. This service provides a licensed advisor who is available to talk with employees one… Read More Read More
New Sapers & Wallack Service: Medicare Support
New Sapers & Wallack Service: Medicare Support We are offering a new service to our clients and their employees: The impact of the large number of baby boomers turning 65 has become a burden for many HR departments. This service provides a licensed advisor who is available to talk with employees one on one to… Read More Read More
The RRC – “Retirement Readiness Corner”
In this edition of the RRC, we expand upon our recent post on retirement insights from J.P. Morgan and a few of the key findings of interest from their study. We will also give a glimpse of retirement readiness through the lens of a leader in the retirement services market. Let’s begin by asking a… Read More Read More
AALU WRMarketplace 14-04
Avoiding Inadvertent Taxable Gifts: Crummey Powers and Annual Exclusion Gifts to Trusts Many individuals follow an annual gifting strategy that involves making gifts to trusts, including irrevocable life insurance trusts (“ILITs”), and rely on beneficiary withdrawal powers to avoid taxable gifts by qualifying the transfers as annual exclusion gifts. For gifts to trusts to qualify for the… Read More Read More
Retirement Newsletter February 2014
In this issue of our Retirement Report you find: Information about retirement income solutions with Guaranteed Minimum Withdrawal Benefits (GMWB) Insights into Specialty Asset Classes as part of a retirement plan menu An overview of different fee methods and A comment about revenue sharing Read More
Gifting Low Basis Stock to Charity
Should you give cash or donate stocks that have achieved long-term capital gains as you make gifts to charitable organizations? Charitable gifts to organizations are made with the best of intentions. But in addition to being well intended, giving to charity should also be well executed. In certain cases, it may be in the donor’s… Read More Read More
Retirement Newsletter December 2013
In this issue of our Retirement Report you find: Thoughts on fixed income investing in a rising rate environment A birthday letter to the Target Date Fund Detailed information about the benefits of stable value products Answers to the question “Do I need an independent ERISA audit?”. Read More
Doing well by doing good – Our team gives back to our community
It’s that time of year when snow falls, fires are lit, and families gather. A time for reflection and community. As a family-run business, the spirit of the holidays gives us a chance to renew our commitment to one of our core beliefs: that we do well by doing good. “It is important, given the… Read More Read More
Charitable Giving is at the heart of family businesses – Sapers & Wallack featured in MA Family Business Magazine
Giving back to our community is close to our heart and our team is involved in many charitable initiatives. Read more about our “Giving Back” philosophy in the recent Massachusetts Family Business Magazine. Read More
$100,000 IRA gift to charity – does it make sense?
Why IRA gifts are not the best option! The Tax Relief Unemployment Insurance Act of 2010 allows people over seventy years and six months of age to donate up to $100,000 of IRA assets to charity. This exemption sounds great on paper and many 501c institutions have mailed their potential donors to encourage the use of… Read More Read More
The RRC – “Retirement Readiness Corner”
Retirement Insights from JP Morgan’s 2013 Plan Participant Survey In the outcome driven world of retirement planning and services, stewards are needed now more than ever before. Our goal at Sapers & Wallack is to provide guidance to all of our clients in the form of best practices. By beginning with the end in mind,… Read More Read More
Seminar: Global Benefits Solutions
Global Benefit Solutions – Lunch Seminar Do you have employees stationed abroad on short and/or long term assignments? Do you have questions about the benefit programs offered to your foreign employees? In today’s global market, corporations have unique needs when managing their international employee populations. In addition to a worldwide benefits solution, you need the… Read More Read More
Fiduciaries on Retirement Plans – FEI article by Victor Kwitkiwski
In his most recent article for Financial Executives International, Victor Kwitkiwski, Vice President, Retirement Plan Services and Fiduciary at Sapers & Wallack, elaborates on the roles and responsibilities of different types of fiduciaries that exist. Many Plan Sponsors don’t know if they’re working with a Fiduciary; many are confused about the role of a Financial Advisor… Read More Read More
Sapers & Wallack recognized as leader in financial services industry
Sapers & Wallack recognized as leader in financial services industry We are proud and honored to have been named one of the Top 100 Women-Led Businesses in MA by The Commonwealth Institute and the Boston Globe and one of the Largest Employee Benefit Firms in MA by the Boston Business Journal. As a third generation family… Read More Read More
Retirement Newsletter November 2013
In this issue of our Retirement Report you find: Interesting results of the EBRI Annual Retirement Confidence survey Detailed information about the exchange of traded funds in retirement plans An overview of prohibited transactions fiduciaries must be aware of Answers to the often asked question: What records should I keep, for how long and how should… Read More Read More
5 important facts about Long Term Care (LTC)
You Are Probably Not Going Into A Nursing Home, But Don’t Confuse That With Not Planning For Extended Care When people consider the subject of elder care (often referred to as long term care), they often think about nursing homes. However, elder care has little to do with nursing homes. Understanding the difference can help… Read More Read More
Retirement Newsletter October 2013
In this issue of our Retirement Report you find: The pros and cons of allowing participants to take loans from their retirement accounts Detailed information about plan eligibility An overview of the Health Care reform and its implications on retirement plans A discussion about the exclusion of part-timers from the 401(k) plan Read More
Why Hire a Professional Retirement Advisor
As a plan sponsor and fiduciary to your company’s retirement plan, you have certain responsibilities to ensure optimal investments, reasonable fees, and informed participants. With an Advisor at your side, you can navigate these waters smoothly and with confidence to create a best practices retirement plan which strives to help protect you from liability and… Read More Read More
The Affordable Care Act (ACA) and Obamacare – what employers need to know
We presented an overview of what has transpired since the Act was passed in 2010 and what employers need to be doing now to be in compliance in 2014 in collaboration with the Financial Management Association of New Hampshire (FMANH). Our experts Janice Belmonte and Paula Drozdal Connors lead the discussion about this important topic. Take a… Read More Read More
Strengthening a successful team – new hires in the retirement plan division
We are pleased to announce the recent hire of Dan Roderigues and Victor Kwitkiwski in our Retirement Plan division. Dan is leading the division as Managing Director and works in close collaboration with Victor who is responsible for business development as Vice President. Dan Roderigues Victor Kwitkiwski As experts in their fields for more than… Read More Read More
Lunch Seminar: Health Care Reform – Compliance calendar checklist, recent developments and legal requirements
Sapers & Wallack Health Care Reform Luncheon with expert Stacy H. Barrow from Proskauer Although the government has delayed the penalties for not offering health insurance to employees working until 2015, employers and their employees still have health reform obligations for 2014. Additionally, there are strategic changes that can be made in the coming year… Read More Read More
Seminar: The Affordable Care Act (Obamacare) – what you need to know
What employers need to know about the Affordable Care Act (Obamacare) We presented an overview of what has transpired since the Act was passed in 2010 and what employers need to be doing now to be in compliance in 2014 in collaboration with the Financial Management Association of New Hampshire (FMANH). Our experts Janice Belmonte… Read More Read More
AALU Report 13-27
What is the proper valuation of Life Insurance policies distributed from non-qualified trusts? Life Insurance valuations continue to be an elusive concept. The conservative approach to the valuation of a life insurance contract is to follow the safe harbors of Rev. Proc. 2005-25. However, The Ninth Circuit’s affirmation of a Tax Court decision indicates that there is current… Read More Read More
AALU Report 13-19
Why Fiduciary Representation is important for Retirement Plan Sponsors As part of our value proposition when consulting to Retirement Plans, Sapers & Wallack acknowledges in the Retirement Plan Services Agreement that we are a Fiduciary with respect to assets of the Plan as defined in ERISA under Section 3(21). As Plan Fiduciaries, we undertake a… Read More Read More
AALU Report 13-17
Target Date Retirement Funds – a popular investment option Target Date Retirement Funds (TDF’s) have become an increasingly popular investment option in 401(k) plans. It is important to identify the differences between various funds, especially in their fee structure, investment strategy and glide path. As TDF offerings continue to expand, and as their popularity with… Read More Read More
AALU Report 13-12
Leave large sums for children and grandchildren We want to share a technique that can help maximize returns for the benefit of your children and grandchildren: We recently met with clients who wanted to maximize the return they could receive from their investments, for the benefit of their heirs. At the end of 2012 this… Read More Read More
The importance of values in today’s business world
During the development of our new branding and website, we had a lot of discussions about our company history and our approach to doing business. Our firm has served hundreds of clients over the last 80 years. I was fortunate to observe the growth of the company under the leadership of my father Bill Sapers… Read More Read More
Sapers & Wallack Recognized as Finalist for Massachusetts Family Business Award
We did it again – Finalist for MA Family Business Award We are proud and honoured to be recognized as a finalist in the Massachusetts Family Business Award. Created 7 years ago by the Center for Family Business at Northeastern University, the awards program creates awareness and promotes the achievements of Massachusetts-based, family owned companies. As… Read More Read More
Sapers & Wallack Pledges Support for National Employee Wellness Month!
Newton, MA. (June 3, 2013) – Sapers & Wallack, a leader in the benefits industry, announced today that they have pledged their support for the fifth annual National Employee Wellness Month. This month-long initiative helps business leaders learn from best practices of how to successfully engage employees in healthy lifestyles. National Employee Wellness Month is… Read More Read More
Breakfast Seminar: Navigate the Maze of Medicare and Employer Health Benefits
Sapers & Wallack Seminar, June 2013 Navigate the Maze of Medicare and Employer Health Benefits 8,000 Baby Boomers are turning 65 daily and will continue to do so until 2029! The workforce will have a growing number of employees 65 and older in the coming years. On June 18, 2013, we welcomed our guest speaker… Read More Read More