Monthly Archives: January 2021

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

I’m not very popular, never have been and never will be. It’s probably my personality or just not wanting to go with the flow, but I’m not a popular guy. Ask my family, ask my former bosses. While I won’t … Continue reading →

As a retirement plan provider, you need to understand where there is a conflict of interest if someone you know hires you. Whether it’s a family member, golf club, church, or bank where you serve as an advisory board member, … Continue reading →

Another thing that sets plan providers apart is the work ethic, whether they will do what’s needed to be done or do it as minimally as possible. If you’re working with a third-party administrator (TPA) and it’s their job to … Continue reading →

One of the most annoying parts of being an ERISA attorney is dealing with surrender charges for clients who want to escape an insurance provider before the contract is up. The administrator of the D.L. Markham, DDS, MSD, INC. 401(k) … Continue reading →

I love when studies on retirement plans state the obvious. According to researchers from Vanderbilt University; the University of Texas at Austin and the National Bureau of Economic Research (NBER); and the Board of Governors of the Federal Reserve System, … Continue reading →

The Internal Revenue Service (IRS) has announced increases to user fees for letter rulings and determinations with respect to employee plans. The increases will take effect on January 4, 2021. The IRS issued Rev Proc 2021-4, which will be effective … Continue reading →

Kiplinger conducted a poll that showed that plan participants did raid their retirement plan accounts because of COVID. The poll showed that nearly 60% of Americans withdrew or borrowed money from an IRA or 401k during the pandemic, and nearly … Continue reading →

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

It’s pretty simple as a 401(k) plan sponsor, you have a fiduciary duty to only pay reasonable plan expenses. When terminating your third-party administrator (TPA), you need to identify the costs of de-converting the plan to the next TPA. Hopefully, … Continue reading →