What Are The Minimum & Maximum I Can Contribute To My 401(k) Each Year?
Posted: May 13, 2020
What Are The Minimum & Maximum I Can Contribute To My 401(k) Each Year?There is no minimum amount you are required to contribute to your 401(k). However, there are suggested amounts to help maximize your retirement potential. There is a maximum amount you are allowed to contribute to a 401(k) annually, as established under federal law. What Are the Suggested Amounts for 401(k) Contributions? By the time you reach age 35, some financial experts say you should have...
Insurance Coverage For Churches
Posted: May 4, 2020
Insurance Coverage For ChurchesLike anyone else today, churches need insurance to protect their assets. They face many of the same risks as for-profit businesses, and they also have their own unique risks. As non-profit organizations, churches need certain types of coverage to help manage the risk of unforeseen events. Nonprofit Insurance For Churches Your church insurance package may include the following types of coverage: Business property insurance: Churches...
Understanding Your Personal Umbrella Policy
Posted: May 1, 2020
Understanding Your Personal Umbrella PolicyA personal umbrella insurance policy will provide extra coverage for you and your assets. It can kick in when other insurance coverage is not enough, but it is not a catch-all policy designed to cover everything. Personal umbrella insurance provides two basic types of coverage – liability and defense costs. What Is Personal Umbrella Coverage? An umbrella policy can cover what primary insurance excludes or...
My 401(k) Is "Frozen" — What Does This Mean & Why Did It Happen?
Posted: April 28, 2020
My 401(k) Is "Frozen" — What Does This Mean & Why Did It Happen?The decision to freeze a 401(k) is made by company management. This often occurs after a merger, while the new company decides what to do with its inherited 401(k) plan. If your 401(k) has been frozen, you won’t be able to make any withdrawals or make any new contributions as long as the freeze continues. In most cases, you can move assets from one investment...
Directors & Officers Liability Insurance Vs. Errors & Omissions Liability Insurance
Posted: April 19, 2020
Directors & Officers Liability Insurance Vs. Errors & Omissions Liability InsuranceNo matter the type or size of your business, it is important to have adequate insurance coverage to protect you from liability. For protection from claims of malpractice or improperly performed services, you need errors and omission liability insurance. But this type of policy won’t cover you for every eventuality. To fill in the gaps, you may also need a directors and officers liability insurance...