Do you have a TAG 401k Plan? If you do, have you checked your first paycheck of the New Year? Take a look and make sure it includes your TAG 401k Plan deduction. There are issues that can occur at payroll to cause problems with the 401k when a new year begins. This can result…

For TAG members with a TAG 401k Plan through Vanguard, the 2023 contribution year is at a close. Due to holiday hours at payroll locations and the TAG office holiday closure from Fri., Dec. 22, 2023 at 2 p.m. to Mon., Jan. 1, 2024, no more changes can be made to 401k payroll deduction settings…

The new year brings good news for TAG members and their 401k plans. A few changes mean opportunities to save more money. Following are these changes as well as advice and information on enrolling if you haven’t already. 2023 Contribution Increase Increasing by $2,000, the CAP for 2023 contribution limits is now $22,500. This is…

We are fortunate that so far the animation industry has not been affected by the pandemic and most members are still working. Still, everyone’s situation is different and many families may be facing financial challenges. In an effort to provide financial support for participants of our 401k plan who may need it, the Trustees unanimously…

I’d like to start a 401k plan. I’ve never enrolled before – what can I do? The best way to get started is to go to the 401k Quickstart page on the Animation Guild website.  Follow the instructions there and complete and return a form. The fastest way to submit a completed form is to scan…

I’ll be racing around doing 401(k) enrollment meetings for the next month or two, so kindly note this: … The median household approaching retirement has a nest egg of between $10,000 and $20,000. This number is drawn down significantly because 41% of these households have no retirement savings whatsoever. … That doesn’t necessarily mean these…

Since I’m diving into new 401(k) enrollment meetings, here are seven human frailties that impede our ability to make good decisions generally … and especially about money. 1. Connecting Correlation with Causation. 2. Confusing Luck and Skill. 3. We *love* shiny objects. We *love* shiny objects … often to our detriment. 4. We’re lousy at…

The Animation Guild 401(k) Plan is celebrating its 20th birthday, and has reached robust adulthood. The stats: * Total Plan assets: $235,742,099 * Average balance: $93,585 * Total contributions in 2014: $7,715,289 * Total number of Plan participants: 2,519 * 88% of assets reside in Target Date Funds. The TAG 401(k) Plan offers participants over…

401(k) enrollment time again, so here’s your new motivator: According to the Center for Retirement Research at Boston College, the average retirement savings for households nearing retirement — those with head of households aged 55-64—is about $110,000. That means more than half of today’s households won’t have enough retirement income to maintain their pre-retirement standard…

The Vanguard Target Date Funds, which most Animation Guild 401(k) participants are using, will be changing their investment lineups in coming months. Right now, the Target Date Funds stock allocations are invested 70% in Total U.S. Stock Market and 30% in International Stocks. By the end of 2015, that will change to 60% U.S. stocks…

The Animation Guild’s 401(k) Plan quarterly trustee meeting took place on Monday; herewith useful factoids for participants: Total Plan Assets 1st Quarter 2014 — $213,826,678 4th Quarter 2014 — $230,542,543 Average Participant Balance 1st Quarter 2014 — $87,778 4th Quarter 2014 — $92,476 Total Participants 2,493 The trustees met on Monday afternoon where they discussed…

So I was in a long Animation Guild 401(k) Plan trustee meeting today, and we now have some newer bells and train whistles which will be rolled out in coming months.