Author Archives: admin

Solving The Mystery Of What A TPA Does

My latest article for JDSupra.com can be found here.

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Keep politics to yourself

Someone I really respect in the industry posted on Twitter that her husband’s certified financial planner (CFP) told him that people who wear masks in this COVID pandemic as her husband was wearing a mask. The CFP just lost a … Continue reading

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Sometimes, you have to be a Scrooge to keep things correct

I’m very opinionated, you know that. My opinions are just opinions, based on my experiences for 22 years as an ERISA attorney. Mainly, they are still based on my near 10 years as an attorney working for third party administrators … Continue reading

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Critics aren’t necessarily haters

There have been some critical op-eds of late, criticizing 401(k) plans. Some of the criticism wasn’t warranted as the writer seemed to get things wrong on cost. I don’t really pay attention to criticism, whether it’s warranted or not. For … Continue reading

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I don’t get riled up about 401(k) opinions

Many years ago, I was one of the people on LinkedIn (along with James Holland) that would point out the issues regarding 401(k) plans that needed to be addressed: the need of fee disclosure and the problems with revenue sharing. … Continue reading

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Last call for safe harbor match soon for 2021

Unlike the safe harbor non-elective contribution, you still need notice and you still need one in place if you want one for 2021 by December 1. While non-elective safe harbor formulas no longer need notice and no longer need to … Continue reading

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Last call for safe harbor match soon for 2021

Unlike the safe harbor non-elective contribution, you still need notice and you still need one in place if you want one for 2021 by December 1. While non-elective safe harbor formulas no longer need notice and no longer need to … Continue reading

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Nestle sued over 401(k) plan

Nestle is the latest target of ERISA litigators and is being sued 0ver excessive administrative fees. The Nestle Plan has more than 39,000 participants and approximately $4.2 billion in assets. The complaint in the suit alleges that the plan’s expenses … Continue reading

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Insperity, Reliance Trust settle for $39.8 million in PEO settlement

Insperity and Reliance Trust has settled a lawsuit for $39.8 million, alleging that they breached their fiduciary duties and committed prohibited transactions under the Employee Retirement Income Security Act (ERISA) relating to the management, operation, and administration of the Insperity … Continue reading

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The Politics of ESG Investing

At the heart of everything in the 401(k) plan business, politics does play a part. Environmental, social, and governance (ESG) funds are all the talk of the business because of a proposal set forth by the President Trump led Department … Continue reading

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