Monthly Archives: September 2019

Don’t bill for someone else’s work

You’ve got a lot on your plate as a retirement plan provider and the last thing you need is more headaches. So don’t add to your workload and headaches by deciding to bill for the work of another provider. I’m … Continue reading

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The Sample QDRO

It’s funny in a sense that the people who should be most experienced with Qualified Domestic Relations Orders (QDROs), many divorce attorneys, don’t seem to know how to draft a QDRO. They try to seek guidance from the folks who … Continue reading

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MIT folds in class action lawsuit

Kenny Roger’s “The Gambler” song has some great tips. You need to know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run. MIT wisely settled a class-action lawsuit concerning their … Continue reading

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If you want it, ask for it

When I was a kid, I’d be passive-aggressive in the sense that I wouldn’t let people know how upset I was about things. Thanks to some age and maturity, I don’t have to be that scared kid anymore and not … Continue reading

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Just because they say they’re good, doesn’t make it so

If people pass on enough incorrect information out there, you start to believe it. When I worked at that semi-prestigious law firm (sorry, Lois), we had a litigation partner that everyone told me was excellent. Being a naïve associate, I … Continue reading

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The good old days for advisors are gone

In the good old days of participant-directed 401(k) plans, a good chunk of financial advisors did very little work for the plans that they advised. Many of them sat back, collected their trail or asset-based fee, and maybe saw the … Continue reading

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Know why you hired them

As a plan sponsor, you have a fiduciary duty to hire competent plan providers to handle your 401(k) plan. So as part of that duty, it’s important to identify who these providers are, how you hired them, and why. Why? … Continue reading

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Sometimes, the litigators want a piece of you

Many years ago, I represented a defined benefit plan sponsor being investigated by the Department of Labor (DOL). The DOL thought the plan sponsor had embezzled money from the plan because the deceased actuary never provided any valuation reports and … Continue reading

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More annuities in plans is a pause for concern

A growing number of U.S. employers are adding lifetime income solutions to their defined contribution (DC) retirement plans, according to the 2019 Lifetime Income Solutions Survey by Willis Towers Watson. While I know the marketplace and the Department of Labor … Continue reading

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401(k) Plan Sponsors: Let Your Providers Do Their Job

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

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