Monthly Archives: July 2021

More than 16 million accounts of $5,000 or less — $8.5 billion in the aggregate — were left in workplace plans from 2004 through 2013. That is part of the reason that the DOL believes that dealing with the missing … Continue reading →

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

I always say that the reason I don’t have employees is I was once an employee too. I was never totally happy with pay and benefits and I don’t know if I ever could be totally satisfied where I worked. … Continue reading →

A plan with 100 or more participants requires an audit of a plan’s financial standing conducted by an independent qualified public accountant to be submitted along with Form 5500. One of the well-known secrets over the past 10 years is … Continue reading →

Attorneys have a bad reputation and a lot of times, it’s warranted. I jokingly said I knew why people hated lawyers just by going to law school. While people may have disdain for lawyers, they serve a purpose and that … Continue reading →

I’m that turd in the punch bowl, being frank and honest which makes some people very uncomfortable. Over the last 10 years, the 401(k) industry deserves much praise for doing a better job in terms of fees, transparency, education, and … Continue reading →

AON sold off its US retirement and retiree health insurance brokerage businesses in a $1.4 billion transaction to get Department of Justice approval for their proposed merger with Towers Watson. AON announced that its US retirement business will be sold … Continue reading →

Revising the new fiduciary rule is on the drawing board for the Department of Labor (DOL). the Employee Benefits Security Administration (EBSA) plans to issue a Notice of Proposed Rulemaking (NPRM) addressing the definition of fiduciary. EBSA plans to issue … Continue reading →

Employee Benefit Security Administration plans to amend and restate its Voluntary Fiduciary Correction Program (VFCP). The amendments will expand the scope of some transactions currently eligible for correction and streamline the correction procedures for certain others. EBSA says it will … Continue reading →

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