Monthly Archives: June 2019

Plan enrollment/education meetings are more than just an exercise

As a 401(k) plan sponsor, you need to understand that an integral part of limiting your liability when participants are having plan enrollment/education meetings. You need to treat them less as a nuisance and more of a tool in limiting … Continue reading

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DOL should make e-disclosures the default

It’s 2019 and one area that the Department of Labor (DOL) could help both the retirement plan industry and plan sponsors out is making electronic disclosures and notices the default option and go with the times. Sure, the paper industry … Continue reading

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Introducing That 401(k) National Conference

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

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If the DOL says you should find missing participants, do it

I’m not afraid of many things, except making the deep water and the heights. I’m not afraid of the Department of Labor (DOL) because I listen to what they’re trying to say. So if they say that missing participants are … Continue reading

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The hardship distribution

It’s 2019 and while the hardship rules are changing for 2020, keep in mind that hardship distributions need to be substantiated by plan participants. We simply can’t take their word that they’re going through a hardship. Whether it’s for medical … Continue reading

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Plan any events ahead and let the word get out

The genesis for That 401(k) Conference can be traced to two things: 1) my experience at other 401(k) events and 2) my experience of running events for my old synagogue. I ended up as a Vice President of the synagogue … Continue reading

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Plan Design is a big deal

Chess is not a game that I ever played a lot or was ever good at it, but it’s a fascinating game because every move can change the course of the game. I see sometimes plan design as similar to … Continue reading

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Why most MEPs never take off

With the SECURE Act passed by the House and some form of legislation being expected to be passed by the Senate, the hope is that a form of open multiple employer plans will be allowed that will be treated as … Continue reading

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Investment education is about a process

Advisors ask me all the time of the role of education in participant-directed 401(k) plans. Participant-directed 401(k) plans that are governed under ERISA §404(c) offer the plan sponsors liability protection based on a participant’s gains or losses on their account … Continue reading

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The drawback on consolidation

There has been tremendous consolidation in the retirement plan marketplace, especially in the last couple of years. It’s been that way since fee disclosure regulations were implemented in. 2012. In the past week, two third-party administrators (TPAs) that I’ve referred … Continue reading

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