Monthly Archives: October 2022

HUB International announced that it has acquired the insurance brokerage and investment advisory businesses of Quintes Financial Services, LLC and Quintes Administrative and Insurance Services, Inc. Located in Northern California, Quintes provides retirement planning and wealth management services. Quintes designs, implements and manages a wide … Continue reading →

As it appears we are in a recession and a bear market, don’t be surprised if there is an increase in hardship requests. Hardship requests need to be substantiated by plan participants. Have them verify the need and document it. … Continue reading →

I always joke that local news stations should simply recycle some stories during every major snowstorm. The stories where stores are emptied of food and shovels are just stating the obvious of a snow storm, so no need to redo … Continue reading →

More than a year after her nomination, the Senate confirmed Lisa Gomez as assistant secretary of labor for the Employee Benefits Security Administration in a 49-36 vote. During a vote in June for the nominations, the vote failed 49-51, with all … Continue reading →

One of the business philosophies I learned while working for a third party administrator is that it’s a lot easier to lose a client than to gain one. I know firsthand, seeing bad service that gets plan sponsors to fire you and … Continue reading →

So my son loves to go to baseball card shows and when I think of my younger days when my father wouldn’t take me, let’s just say I’m a softie. When there was a show at the Westchester County Center … Continue reading →

Despite the volatile stock market, retirement saving continued to be a strong focus for defined contribution plan participants through the first half of 2022, according to new research from the Investment Company Institute (ICI). The study found most plan participants did … Continue reading →

Retirement plan assets are for the exclusive use of plan participants, it’s not supposed to be for the use of fiduciaries for their own use. The fiduciaries of an international design firm in Moorestown, N.J. must pay more than $2 … Continue reading →

In Notice 2022-45 the Internal Revenue announced that qualified retirement plans (and IRAs have until December 31, 2025, to adopt amendments related to coronavirus-related distributions and plan loan relief under the CARES Act, and qualified disaster distributions under the Relief Act. That notice … Continue reading →

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