Category Archives: Retirement Plans

Maybe I’m like Larry David, but I have a lot of pet peeves. I hate when people whistle or sing in public. I hate when people talk on the phone in line. I also don’t deal well with working with, … Continue reading →

What is old is new again. Again, the Department of Labor (DOL) is trying to unveil a new fiduciary rule. The DOL finalized the new rule, which updates the definition of an investment advice fiduciary adopted in 1975 under the … Continue reading →

The Department of Labor (DOL) issued a proposed information collection request (ICR) to help implement a lost-and-found database to assist former plan participants with locating missing retirement accounts. Section 303 of the SECURE 2.0 Act of 2022 requires the DOL … Continue reading →

Paychex is fighting a lawsuit by a participant claiming their distribution check was stolen in New York state court. Wisely, Paychex is trying to move the case to Federal court since this is an ERISA matter and a federal question. … Continue reading →

Ascensus has entered into an agreement to acquire Vanguard’s Individual 401(k), Multiple Participant SEP (Multi-SEP), and SIMPLE IRA plans business. Ascensus will assume recordkeeping and client servicing for Vanguard’s SIMPLE, Multi-SEP, and Individual 401(k) retirement plans, and Ascensus wilk increase … Continue reading →

According to the latest Judy Diamond Report, certified public accountant firms have the best-performing 401(k) plans. CPA firms ranked first among 27 industry groups that were evaluated on seven metrics of plan performance, including average account balances, participation rates, and … Continue reading →

A survey conducted by the 401(k)-platform, Guideline, found that while employers and employees both agree that retirement benefits are valuable, some companies underestimate their value in retaining and recruiting employees. While 93% of participants in the survey note that a … Continue reading →

A law firm partner sends an email to another partner that he’s in trouble, and that the other partner should go to Walgreens and buy gift cards and send over the information for the gift card number and pin. The … Continue reading →

I got an urgent phone call on Friday at 5 pm from a plan sponsor with a unique situation. They talked about terminating their 401(k) plan to their third-party administrator (TPA) and the TPA canceled access to their plan. Reminds … Continue reading →

The U.S. District Court for the District of Maryland ordered engineering firm Bicallis LLC and its owner, Bryan Hill, to restore missing contributions to the Bicallis LLC 401(k) Plan. The court order followed an investigation by the Department of Labor’s … Continue reading →