Monthly Archives: September 2020

Experience could mean many things

I always talk about how plan sponsors need to work with experienced financial advisors, third party administration (TPA) firms, and ERISA attorneys on their plan needs. Like with reasonable fees, I believe that the term “experienced” is vague. Experience doesn’t … Continue reading

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Don’t be cheap on retirement plans

As I have stated before, I am loath to hire employees because I was an employee once too. That pretty much means that I never met an employee who thought they were overpaid. For that matter, I never met an … Continue reading

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All you need is just a little patience

I always talk about my open-door policy with financial advisors and third party advisors where I will help these plan providers out without me actively seeking their business. I kind of have that liberty because it’s my law practice and … Continue reading

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IRS Provides Guidance on Employer Tax Credit

The Secure Act created a new small employer automatic enrollment credit of up to $500 per year to employers to defray startup costs for new 401(k) plans and SIMPLE IRA plans that include automatic enrollment. The new credit applies to … Continue reading

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IRS Provides Guidance on Long-Term, Part-Time Employees in 401(k) Plans

Under the SECURE Act, 401(k) plan sponsors will be required to have a dual eligibility requirement under which an employee must complete either a one-year-of-service requirement (with the 1,000-hour rule) or three consecutive years of service where the employee completes … Continue reading

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Possible Biden 401(k) is a little chilly

A little known proposal from the Joe Biden campaign concerning 401(k) plans is giving many in the industry pause for concern. The Biden proposal would replace the tax deduction that workers get when they contribute to their workplace retirement plan … Continue reading

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The Nuts And Bolts About Self-Correction And Voluntary Compliance Programs

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

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Retirement Plan Advisors Advantage

My latest newsletter for financial advisors can be found here.

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Take extra precaution for COVID distributions

The Securities and Exchange Commission is urging professionals to take extra steps to ensure the safety of investors’ assets. The SEC is encouraging firms to “review and make any necessary changes to their policies and procedures around disbursements to investors, … Continue reading

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They will always be selling

When I was a kid, there were two varieties of Cheerios, one version of Listerine, and one type of Crest toothpaste. If you got to the supermarket these days, there are about a dozen varieties of Cheerios, more than a … Continue reading

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