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Retirement Planning News

Retirement Plan Rx

Retirement Plan Rx June 2017 The latest news regarding retirement plans has centered around service provider fees.  While fees are a highly important aspect of managing an employer-sponsored retirement plan, they are not the only metric of your overall retirement plan’s health. A low-cost retirement plan does not necessarily parallel a […]

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Benefit Communications in an Electronic World

Benefit Communications in an Electronic World April 2017 With communication mediums like email, text, and IM’s becoming the standard in business industries worldwide, plan sponsors are becoming increasingly interested in abandoning paper processes for a more electronic means of communication with plan participants and beneficiaries. Since e-delivery is not an “all […]

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Dealing with Uncashed Distribution Checks and Missing

Dealing with Uncashed Distribution Checks and Missing Participants February 2017 It is estimated that uncashed checks account for billions of dollars, representing a fortune of uncollected funds belonging to plan participants or beneficiaries that they are not able to use and also represent serious issues for fiduciaries. Uncashed […]

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Keeping Abreast of Plan Loan Rules

Keeping Abreast of Plan Loan Rules October 2016 If you have a 401(k) plan, you’ve likely had participants ask about taking loans from their accounts. If you haven’t yet, it is only a matter of time. While the concept of taking a loan is pretty straightforward—you borrow money, you […]

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DOL Issues New Fiduciary Rule

DOL Issues New Fiduciary Rule August 2016 On April 8, 2016 the Department of Labor (DOL) issued final guidance that greatly expands the types of retirement investment advice that will be subject to the fiduciary duty rules under the Employee Retirement Income Security Act of 1974 (ERISA). The so-called “conflict of […]

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Fun with Forfeitures

Fun with Forfeitures June 2016 Sooner or later, almost all 401(k) plans will face the “fun” of dealing with forfeitures. Just like every other plan-related operational item, there are specific rules that provide guidance on the “who, what, why, when and where” of using forfeitures. What is a […]

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A Fresh Look at Your Form 5500 Filing

A Fresh Look at Your Form 5500 Filing April 2016 If your firm has a profit sharing plan, a 401(k) plan or some other tax-qualified retirement plan, then you have been given a Form 5500 to sign and file every year since your business adopted the plan. While the […]

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Part-Time Employees in 401(k) Plans

More and more businesses are hiring part-time, seasonal or temporary employees (collectively referred to in this newsletter as “part-time employees”). Employers believe the advantages to using this alternative workforce include lower wages and significant savings in terms of not providing employee benefits to these individuals. Unfortunately, many […]

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Determining Retirement Plan Compensation

Determining Retirement Plan Compensation December 2015 When it comes to operating your retirement plan, determining the compensation that should be used for each participant can be really confusing. It seems like it should be simple, but the reality is quite different. In fact, the rules can be so confusing that […]

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A Plan Fiduciary’s Responsibilities

A Plan Fiduciary’s Responsibilities October 2015 Many employers establish retirement plans without being fully aware of their fiduciary responsibilities. It is imperative to know whether you are a fiduciary and, if so, what your responsibilities are because there are risks for the unwary. A fiduciary that breaches any […]

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