Category Archives: Retirement Plans

A few months back, I was working with a 401(k) plan sponsor on a big Voluntary Compliance Program (VCP) issue. The issue was simple, the latest plan restatement (since 2019) improperly included bonuses to the definition of compensation, which was … Continue reading →

NFTs or non-fungible tokens is an interesting development where people can buy digital art or trading cards that are not physical, but exist in a blockchain. Based on an idea I had and derived from the relationships developed through. That … Continue reading →

Kimberly-Clark Corp. is the latest defendant in a proposed class action Employee Retirement Income Security Act (ERISA) lawsuit. The complaint alleges that Kimberly-Clark breached its fiduciary duties by authorizing the plan to pay unreasonably high fees for retirement plan services. … Continue reading →

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When the Internal Revenue Service develops a laundry list of the things that they will focus on, when it comes to retirement plans, we need to listen. The IRS Tax Exempt and Government Entities Compliance Governance Board has approved the … Continue reading →

Solo 401(k) plans are a great benefit for sole proprietors. I know, I have one. The problem is they are on the Internal Revenue Service’s (IRS’) radar. The IRS’s Tax Exempt and Government Entities division has identified one-participant 401(k) plans … Continue reading →

The Department of Labor (DOL) issued guidance that reinforces that the new investment advice regulation in retirement accounts will strengthen oversight of rollover recommendations and require investment advisers to mitigate conflicts of interest. The regulation that the Biden administration let … Continue reading →

The Department of Labor (DOL) has issued guidance for plan sponsors and plan providers that cover best practices for them for maintaining cybersecurity. This guidance comes pretty quickly after the Government Accountability Office (GAO) asked the DOL to guide everyone … Continue reading →

There is a growing problem that I’ve seen dealing with plan providers (usually third party administrators (TPAs) who get paid for an entire plan year’s work, get terminated and refuse to complete the end of the year work because that … Continue reading →