Since the inception of the employer-employee relationship there has been employee turnover. Every employer knows that turnover is inevitable and have factored in the costs into the price of doing business.

One way to lengthen tenure among your workforce is an effective health and wealth strategy, which introduces a long-term partnership where both employers and employees are mutually invested in growing wealth and improving health through knowledge, savings and investing.

If your employees are like most other workers in the U.S., it is highly likely that they are not saving enough for retirement. In fact, studies show that among all generational groups, many people will need to work much longer than expected to make up for those shortfalls. Then there is the increasing cost of healthcare that can threaten your employees’ savings and keep them from reaching their financial goals.

How can employers help employees achieve their savings goals, both now and as they prepare for retirement? One answer may be to do more to provide the kinds of benefits — including HSAs and 401(k)s — that can help them save for healthcare and retirement. Here are three tips you can use as you approach your employees about saving for healthcare and retirement.

Companies moving from a SIMPLE IRA to a 401(k) plan are usually seeking some additional flexibility and have outgrown their current SIMPLE plan. The questions arise: What is a SIMPLE retirement plan? And how is it different from a 401(k)?

SIMPLE is an acronym for a Savings Incentive Match Plan for Employees. There two SIMPLE plans, SIMPLE IRA and SIMPLE 401(k). Both are tax-deferred retirement plans provided by employers. The goal of a SIMPLE plan is similar to other retirement plans: to allow employees a simple way to save and invest money for retirement. We’ve outlined a few of the basics of SIMPLE and traditional 401(k) plans to highlight some important similarities and differences.

Have you ever had to endure a 401(k) Audit? For most plan sponsors, they are not a pleasant experience. We're not referring to being audited by the DOL or IRS, we're referring to the annual audit attached to Form 5500 that is required for “large plans”. Plan sponsors dread the annual audit because of the time, effort, energy, and cost required. But it doesn’t have to be that way.

In an effort to alleviate the pain caused by the annual 401(k) audit, we have prepared a few pieces of information that you should know about these audits. If you take advantage of even a couple of these, you will have a better experience moving forward.

The 401(k) industry is a complex mixture of rules and regulations that are written and enforced by numerous government entities. Due to this arrangement, there are a lot of complications that can arise. Every year, 401(k) plans around the country are subject to government non-discrimination and coverage testing. Because the Federal Government offers substantial tax benefits with the 401(k) plan, they want to ensure that owners, executives, highly-compensated, and key employees aren’t unduly benefited from the plan compared to all other employees.

Failing an annual test may result in possible refunds, fines, and tax penalties. It is vital that an employer understands how the testing works to better fulfill fiduciary responsibilities. Below, we’ve outlined the most common tests that are performed each year.