Monthly Archives: February 2020

The Word On What 401(k) Plan Sponsors May Need

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

Posted in Retirement Plans | Leave a comment

You can’t go negative

Growing up, I was a pessimist. I don’t why, but I let any little thing get to me and I realized that being negative, scares people away. That’s why I recommend when dealing with potential clients, don’t harp on the … Continue reading

Posted in Retirement Plans | Leave a comment

Change the neglected part of automatic rollovers with FPS

One of the most forgotten parts of a 401(k) plan is the automatic rollover and who the automatic rollover provider is. I was going through a Department of Labor audit on a terminated plan and they asked me how the … Continue reading

Posted in Retirement Plans | Leave a comment

You have to deal with schnorrers, but draw the line

One of my favorite Yiddish words is schnorrer. While it means beggar or sponger, it’s essentially a cheapskate who wants to chisel you by getting something for nothing. There is nothing wrong with potential clients trying to get a bargain … Continue reading

Posted in Retirement Plans | Leave a comment

There is room for everyone

When fee disclosure regulations were implemented, there were a few industry chicken littles that suggested that the disclosures would be a race to zero and only the cheapest providers would win out. History has proven that while fees have gone … Continue reading

Posted in Retirement Plans | Leave a comment

401(k) plans increase savings

Investment Company Institute conducted a study that shows that 56% of Defined Contribution plan participants agree that they probably wouldn’t save for retirement if they didn’t have a plan at work. What does that tell you as a plan sponsor … Continue reading

Posted in Retirement Plans | Leave a comment

Important Tasks That Most 401(k) Plan Sponsors Ignore

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

Posted in Retirement Plans | Leave a comment

The Safe Harbor Change for Non-Electives is Big

The SECURE Act created much-needed change to the safe harbor non-elective contributions, making it more of a weapon to combat failed discrimination testing. Previously, a plan sponsor could only adopt the non-elective contribution prior to the Plan Year with a … Continue reading

Posted in Retirement Plans | Leave a comment

The beneficiary form and the need for no drama

As a plan sponsor, you need to make sure that participant beneficiary forms are up to date. It’s not enough that you make sure that every participant has filled one out, you also have to make sure that they’re updated. … Continue reading

Posted in Retirement Plans | Leave a comment

SECURE Act bring the annuity thing back

I’m not a fan of annuities, especially in 401(k) plans. Yet, it seems that the insurance industry got their say with the addition of annuities in the SECURE Act. The SECURE Act includes three law additions that might expand the … Continue reading

Posted in Retirement Plans | Leave a comment