Category Archives: Retirement Plans

Correcting your late deferrals by depositing them and making a contribution to compensate for lost earnings in your 401(k) plan isn’t sufficient. Why? Because Form 5500 requires you to honestly indicate whether you have late deferrals. If you answer “yes” … Continue reading →

I have worked at places that were so unpleasant that I consider myself lucky the vesting schedule was only six years. If they had the option, I’m convinced they would have implemented a 20-year vesting schedule. For me, vesting schedules … Continue reading →

Sponsors of 401(k) plans are increasingly recognizing the need to provide personalized investment options for their participants; however, access to managed accounts still remains limited. According to PGIM DC Solutions’ 2025 DC Plan Sponsor Landscape Survey, a resounding 88% of … Continue reading →

Human Interest unveils a “401(k) Customer Experience Guarantee.” At least with those fiduciary warranties, it’s not insulting anyone’s intelligence. The Customer Experience Guarantee includes specific, measurable service commitments, and the company said it has plans to improve guarantees year-over-year. For … Continue reading →

Former employees of Swiss Re American Holding Corp. are suing the company and its recordkeeper, Empower, for breaching their fiduciary duties under the Employee Retirement Income Security Act (ERISA). The plaintiffs allege that they were charged excessive recordkeeping fees, faced … Continue reading →

Recordkeepers and Third Party Administrators (TPAs) need to either scale up or innovate. The trend of consolidation in the TPA industry makes it increasingly difficult to compete against larger firms. If you’re not in a position to acquire smaller competitors, … Continue reading →

According to Fidelity, Retirement account balances have reached all-time highs. At the end of 2024, the average balance in 401(k) plans was $132,300, and in 403(b)s, it was $119,300. The average overall contribution rates are also increasing, nearing Fidelity’s guideline … Continue reading →

In life, choice is usually a good thing. However, when it comes to daily valued 401(k) plans, too many choices aren’t a good thing. It sounds counter-intuitive, but too many choices offered to plan participants is usually a mistake. Offering … Continue reading →

Candidly, an AI-driven student debt and savings optimization platform issues a report on the effectiveness of their Student Loan Retirement Match program, which was allowed SECURE 2.0. The SECURE 2.0 provision that enabled employers to match employees’ student loan payments … Continue reading →

Daniel Aronowitz, president of Encore Fiduciary, was nominated by President Trump to become the next Assistant Secretary of Labor and lead the Employee Benefits Security Administration. Aronowitz has 30 years of experience in the professional liability industry as a coverage … Continue reading →