Monthly Archives: January 2022

The numbers of employers allowing Roth 401(k) savings have dramatically increased. The percentage of 401(k) plans to offer the option grew to 86% in 2020, up from 75% in 2019 and 49% a decade ago, according to the Plan Sponsor … Continue reading →

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

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

The Plan Sponsor Council of America through their annual survey has indicated is that 3% is no longer the most common default deferral rate for automatically enrolled 401(k) plan participants. The new most common default deferral rate is now 6%. … Continue reading →

The numbers of employers allowing Roth 401(k) savings have dramatically increased. The percentage of 401(k) plans to offer the option grew to 86% in 2020, up from 75% in 2019 and 49% a decade ago, according to the Plan Sponsor … Continue reading →

The Department of Labor’s Employee Benefits Security Administration (EBSA) released their final revisions to the Form 5500 and the Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan for the 2021 plan year and includes changes that apply … Continue reading →

While Lisa Gomez’s nomination passed a Senate committee hurdle, her nomination to lead the Employee Benefits Security Administration (EBSA) seems to have stalled. The Senate Health, Education, Labor and Pensions (HELP) Committee had approved  Gomez’s nominations as Assistant Secretary for … Continue reading →

With 2022 here, don’t forget about Cycle 3. This “Cycle 3” restatement means that all qualified pre-approved 401(k) plan documents will need to be amended, certified by the IRS, and adopted by the plan sponsor by the deadline of July 31, … Continue reading →

When I draft a new 401(k) plan for a client, I’ll recommend a loan provision even though it can be an administrative headache. The reason that I add it is because I think participants need to have access to money … Continue reading →

Quarter 3 of 2021 was a little choppy and retirement plan. Assets show that. Total U.S. retirement assets were $37.4 trillion as of September 30, 2021, which was down 0.5% from June 30, 2021, according to the Investment Company Institute … Continue reading →