Monthly Archives: November 2020

When You May Have To Fire Your 401(k) TPA

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

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A restatement could be time for a plan housecleaning

A restatement process isn’t required by the Internal Revenue Service so that ERISA attorney can bill for drafting new plan documents. It’s required so that a retirement plan has a document that is current with the law. As we start … Continue reading

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It doesn’t have to be a PEP to succeed in the micro plan market

I have spoken to many third-party administrators (TPAs) regarding Pooled Employer Plans (PEPs) and many are hesitant to offer them. Rather than offering them, they are considering offering better pricing on the micro or small plan market. By focusing on … Continue reading

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Biden won’t get what he wants on deferrals

Articles about presidential nominees and their 401(k) proposals are always amusing because all they are, are proposals. Political reality always gets in the way of proposals. There was much discussion that Joe Biden would try to jettison salary deferrals in … Continue reading

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DOL issues new ESG rule

The Department of Labor (DOL) announced a final rule for fiduciaries of private-sector retirement plans regarding environmental, social, and governance (ESG) investing. The final rule amends the department’s longstanding investment duties regulation, first issued in 1979, to codify a clear … Continue reading

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DOL has a banner year in 2020 with investigations

The Department of Labor’s Employee Benefits Security Administration (EBSA) had a banner year in fiscal 2020, having recovered over $3.1 billion in direct payment to plans, participants, and beneficiaries. $2.6 billion of that was recovered in their investigations. EBSA closed 1,122 civil … Continue reading

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The Real And Exaggerated Threats To A 401(k) Plan Sponsor

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

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Don’t be fooled by euphemisms

My favorite comedian was George Carlin and George had a great act on euphemisms and how toilet paper became bathroom tissue and how a used car became a pre-owned automobile. All George was saying that euphemisms can cloud meanings of … Continue reading

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Making a PEP out of Solo 401(k) plans?

People with solo 401(k) plans and other smaller plans tend to get very little services. Most don’t have the assets for a retirement plan advisor, so they got it alone. Going it alone for investments and plan administration could be … Continue reading

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DOL thinks Cyber Security is a big deal, so should you

The Department of Labor (DOL) is interested in the concerns about cybersecurity, so expect some guidance. Tim Hauser, Deputy Assistant Secretary for National Office Operations at DOL’s Employee Benefits Security Administration (EBSA), says that we will likely see more focus … Continue reading

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