401(k) Archives - HFM Investment Advisors, LLC

Auto-enrollment and auto-escalation are now standard for new plans. But how can you know if these “table-stakes” are a good option for your plan? Studies have shown that auto-features, such as auto-enrollment and auto-escalation, help boost participation and savings rates. However, not all plans offer these plan design features, and existing plans aren’t obligated to adopt them. Under the SECURE Act 2.0, new 401(k) and 403(b) plans must include auto-enrollment and auto-escalation, beginning in 2025. Choosing to include automatic features in your retirement plan design is an important and potentially complex decision. Here are some key factors to…

Breaking Barriers: Tyler Hoehe’s Journey from Criminal Justice to Business Leadership

401(k), Business Owners

Breaking Barriers: Tyler Hoehe’s Journey from Criminal Justice to Business Leadership Entrepreneurship is often a journey filled with unexpected twists and turns, and few stories capture this better than that of Tyler Hoehe. As one of the youngest entrepreneurs featured on the Dollar Wise Podcast, Tyler’s path to business ownership was far from conventional. What began as a career in criminal justice transformed into her taking the reins of Ed’s Body Shop, a fourth-generation family business that she now leads with passion and vision. A Different Dream: From Law Enforcement to Business Ownership When Tyler graduated high school, she had…

401(k) Playbook for Company Leadership

401(k)

Your workforce is your greatest asset. A well-managed 401(k) plan can help you attract, retain, and engage top talent. Are you getting the most out of your 401(k) plan? Ask yourself: Is your plan helping to improve employee retention? Are you offering benefits that today’s employees want? Is your 401(k) designed for long-term success? If you answered "no" to any of these questions, it’s time for a change. Let’s talk about how to enhance your 401(k) and keep your team happy without a drastic cost increase. Download Your 401(k) Playbook 102 WEST HIGH STREET, SUITE 200 GLASSBORO, NJ 08028 HFM…

From Criminal Justice Dreams to Running a Legacy: Tyler Hoehe’s Story

401(k), Business Owners, Podcast

Welcome back to the Dollar Wise Podcast. In this episode, host Michael Pallozzi sits down with Tyler Hoehe, the fourth-generation owner of Ed's Body Shop in Bridgeton, NJ. Tyler shares her incredible journey from dreaming of a career in law enforcement to becoming the youngest entrepreneur featured on this podcast. Discover how her family's legacy influenced her decision to take over the business, the challenges she faced as a woman in a traditionally male-dominated industry, and how she's expanding the shop's services to include heavy-duty equipment repair. This conversation dives deep into her growth, passion, and dedication to carrying on…

401(k) Committee Changes and Tips to Help New Members

401(k), Financial Wellness

As senior leaders start to retire, learn best practices for smooth committee transitions. Change is upon us. The Silver Tsunami is lifting the baby boom generation into retirement. For many companies, this means shifts in 401(k) committee leadership. As with all committee processes, having a clear plan is essential. A well-documented transition process can help new and existing members understand their roles, and smooth and consistent transitions will keep plans operating seamlessly. Develop a consistent onboarding process A thorough and repeatable process for onboarding new committee members is essential. In many cases, the process begins with an orientation program…

Employee Education: Designing Your Future

401(k), Financial Wellness

Financial education makes a big difference. That’s why the Designing Your Future on-demand webinar is now available! This easy-to-follow video and worksheet provide guidance on setting smart money goals and building a secure future. It’s simple, free, and available anytime. Watch the Video What the webinar covers Short-term goals: Tips on essentials like building an emergency fund and managing debt. Mid-term goals: Strategies for saving for big purchases or career growth. Long-term goals: Insights for retirement planning. Download the Worksheet Benefits of a Financial Education For employees: Better planning leads to less stress, more focus, and increased financial confidence. For…

What Does a 401(k) Committee Do?

401(k), Business Owners

How a 401(k) committee can support with plan success. Who is making sure that your retirement plan works for you, your company, and your employees? That’s the job of your 401(k) committee! From compliance to employee education, the committee helps tailor the plan to fit your team’s needs. Let’s explore the essential tasks and responsibilities your 401(k) committee will focus on to help maintain an effective, compliant, and competitive plan. Who should be on the 401(k) committee? Typically, a 401(k) committee includes leaders from HR, finance, and upper management. These members act as fiduciaries, meaning they are legally required to…

Compliance Deadlines and Reminders: Q1 2025

401(k)

Stay ahead of deadlines with help from our annual Compliance Calendar. If you have any questions about deadlines or information requested, please contact us to review today! Download the Calendar 102 WEST HIGH STREET, SUITE 200 GLASSBORO, NJ 08028 HFM Investment Advisors, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase…

Understanding the Investment Menu in Your Company’s 401(k) Plan

401(k), Financial Wellness

As a business leader overseeing your company's 401(k) plan and understanding the investment menu's intricacies can play a significant role in shaping your employees' retirement outcomes. In our comprehensive guide, we explore different ways to evaluate and improve your current offerings. We discuss innovative ideas for assessing your plan’s asset allocation strategies and provide recommendations for creating an effective investment line-up. Download the 401(k) Investment Menu Guide 102 WEST HIGH STREET, SUITE 200 GLASSBORO, NJ 08028 HFM Investment Advisors, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it…

Securing Retirement Futures: Strategies to Address Delayed Retirement

401(k), Financial Wellness

Does your 401(k) plan design support “on time” retirement? Delayed retirement is becoming increasingly common among Americans, impacting employers’ bottom lines, talent acquisition cycles, and overall productivity. A recent survey found that one in four employees anticipate working beyond their initially planned retirement age, and 9% fear they may never be able to retire.[1] This data supports a longer-term trend: since the early 1990s, rising labor force participation among older workers has lifted the average retirement age in the United States by three years.[2] Impact of delayed retirement on employers These findings have important implications for employers. While retaining…