Category Archives: 401(k) Plans

Everyone knows my bias against third party administration (TPA) firms that have their own registered investment advisory (RIA) firm. A perfect example of the problems with that just came up. A broker friend of mine advised me of a new … Continue reading →

Three years ago, I left my job as an attorney for a TPA that was also an RIA because I thought fee disclosure was the future and the way we practiced business was part of the past. I knew that … Continue reading →

Will tape a CLE and Accounting CE course for Lawline.com next week.

The good folks at Brightscope unveiled a list of the top 401(k) mutual funds in the marketplace by distribution. Looking at the list, it will certainly give you an idea of what the top mutual funds were, 5-10 years ago. … Continue reading →

Whoever said there are no dumb questions is right, stupid questions are another story. I am outspoken against the idea of a one stop shop where a third party administration firm (TPA) has its own registered investment advisory (RIA) business. … Continue reading →

Too many retirement plan sponsors leave money on the table by just selecting a financial advisor and setting up a plan vanilla 401(k) or SIMPLE IRA or SEP without consulting an ERISA Attorney and the consultants at a third party … Continue reading →

Retirement plans with more than 100 participants require a CPA audit for their Form 5500. However, small plans with less than 100 participants may sometimes require an audit. This often happens when more than 5% of the Plan’s assets are … Continue reading →

There two major differences that I see in being an attorney that works for a third party administration firm and my role at my law firm. First, I now offer an attorney-client relationship with my clients rather than protecting my employer’s … Continue reading →

Is it my imagination or does every 401(k) plan that wants to offer a self directed brokerage account option for participants is either a law practice or medical practice? In 12 years as an ERISA attorney, I cannot recall a … Continue reading →

If my experience working for, with, and sometimes against third party administrators (TPAs) can be summed up about plan errors is the following. The best TPAs make mistakes rarely and when they do, they take the blame and correct it. … Continue reading →