Monthly Archives: May 2020

Plan Sponsors Can’t Overpay for Plan Services

When I was 13 and I had my Bar Mitzvah, I plunked down about $2,000 in 1985 money for a state of the art Apple IIe with a monochrome monitor. One of the first pieces of software I bought was … Continue reading

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ERISA Attorneys have to provide real value

10 years in, I’m glad I went on my own as an ERISA attorney, so I could provide value to clients, instead of being wedded to a billable hour because of a huge overhead working for a law firm.  I … Continue reading

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LinkedIn isn’t some sort of singles dating site

Ever since I started my law practice, LinkedIn has been a very effective tool for me in growing my business. I have been rewarded with meeting so many great retirement plan professionals that have helped me over the past 10 … Continue reading

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DOL Relief for Late Salary Deferral Deposits

As a result of the Coronavirus pandemic, I have consistently said that plan sponsors still have their fiduciary duties to fulfill in terms of their sponsorship of the plan and their deposit of salary deferrals as soon as possible. In … Continue reading

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Don’t be a Schnorrer

The first time I heard the word Schnorrer, I was 7 years old and my parents took me on a trip to Mystic, Connecticut. During those days, the Connecticut Turnpike had eight toll booths from Greenwich to Mystic. It felt … Continue reading

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401(k) Plan Sponsor Issues During This Coronavirus Pandemic

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

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The problem with TPA Referrals

A friend of mine and I were talking about a financial advisor that we knew that had a tremendous and respectable book of 401(k) business and how he uses a well known and ineffective third-party administrator (TPA) for many of … Continue reading

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401(k) Plans don’t have to be a period, they can be a comma

Too often brokers and financial advisors think about their client’s retirement plan needs and only think about the 401(k) plan. It’s understandable based on their lack of understanding of retirement plan basics, but it’s not when there is a vast … Continue reading

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Survey shows Employers Opting for CARES Act COVID Distribution

Willis Towers Watson conducted a survey showing that a vast majority of plan sponsors are opting for the CARES Act provisions on early distributions and plan loans. Almost two-thirds of plan sponsors (65%) have increased access to the COVI-19 in-service … Continue reading

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IRS Released COVID Distribution Q&A

The Internal Revenue Service (IRS)N has issued a series of an FAQ questions and answers regarding the CARES Act coronavirus-related relief for retirement plans. The coronavirus-related distribution and loan rules generally apply only to qualified individuals. The FAQ does not … Continue reading

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