Category Archives: Retirement Plans

Expect more micro plan solutions

With the implementation of rules that will finally allow Pooled Employer Plans (PEPs), expect more and more retirement plan providers offering micro plan solutions for small employers. Why the move to offering better solutions for micro plans? There are a … Continue reading

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IRS announce 2021 Retirement Plan Limits

It is that time of the year, again. The Internal Revenue Service  has announced inflation-adjusted figures for retirement account savings for 2021. Effective January 1, 2021, the limitation on the annual benefit under a defined benefit plan under § 415(b)(1)(A) … Continue reading

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Don’t let other providers become the stick in the wheels of progress

I had a friend of mine in college who was involved in student politics like I was and he once proclaimed to the school newspaper that he was “the stick in the wheels of corruption.” 20 years later, I have … Continue reading

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Don’t let clients get angry

Retirement plan providers can never be arrogant when it comes to the gripes raised by their clients. If clients have an issue with your service, you can’t discount because anger festers and boils over into an irreversible cycle that gets … Continue reading

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Arrogance is a problem

22 years in the retirement plan business and I have seen quite a bit. Two disasters that I witnessed close by involved the fall of a fiduciary and the disestablishment of a very successful third-party administrator (TPA). I am not … Continue reading

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When it’s time to leave

Like George Costanza who always tried to leave on a high note in an episode of Seinfeld, I always try to leave at the right time. Most of the time, it’s the right time. Sometimes it’s like the last episode … Continue reading

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You’re Not Here To Make Friends

There are essentially two types of people at any company: management and the employees. I always say that I would never hire an employee because I was one (which will change in a few weeks, stay tuned). One of the … Continue reading

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Avoid the Norma Principle

The Peter Principle is a management theory concept in which the selection of a candidate for a position is based on the candidate’s performance in their current role, rather than on abilities relevant to the intended role. So the theory … 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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2021 Challenges For 401(k) Plan Providers

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

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