Category Archives: Retirement Plans

A Plan Sponsor Should Seek Out A Retirement Plan “Dentist”

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

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The Perilous Move From One 401(k) TPA To Another

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

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Default rate is higher

The Plan Sponsor Council of America through their annual survey has indicated is that 3% is no longer the most common default deferral rate for automatically enrolled 401(k) plan participants. The new most common default deferral rate is now 6%. … Continue reading

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Employers offering Roth is way higher

The numbers of employers allowing Roth 401(k) savings have dramatically increased. The percentage of 401(k) plans to offer the option grew to 86% in 2020, up from 75% in 2019 and 49% a decade ago, according to the Plan Sponsor … Continue reading

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Changes to 5500 reflect PEP requirements

The Department of Labor’s Employee Benefits Security Administration (EBSA) released their final revisions to the Form 5500 and the Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan for the 2021 plan year and includes changes that apply … Continue reading

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ERISA pick stalled

While Lisa Gomez’s nomination passed a Senate committee hurdle, her nomination to lead the Employee Benefits Security Administration (EBSA) seems to have stalled. The Senate Health, Education, Labor and Pensions (HELP) Committee had approved  Gomez’s nominations as Assistant Secretary for … Continue reading

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Don’t forget Cycle 3 Restatements

With 2022 here, don’t forget about Cycle 3. This “Cycle 3” restatement means that all qualified pre-approved 401(k) plan documents will need to be amended, certified by the IRS, and adopted by the plan sponsor by the deadline of July 31, … Continue reading

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The problem with loans

When I draft a new 401(k) plan for a client, I’ll recommend a loan provision even though it can be an administrative headache. The reason that I add it is because I think participants need to have access to money … Continue reading

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Retirement plan assets dip in Q3

Quarter 3 of 2021 was a little choppy and retirement plan. Assets show that. Total U.S. retirement assets were $37.4 trillion as of September 30, 2021, which was down 0.5% from June 30, 2021, according to the Investment Company Institute … Continue reading

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Nokia sued over 401(k) plan

Nokia of America is one of the latest employers hit with a class-action lawsuit over the fees in its 401(k) plan. The complaint alleges that the phone maker filled its investment menu with funds that had higher fees than other options … Continue reading

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