Monthly Archives: June 2023

The reason you have contracts is really to detail the deal that you have. While people think you need to have all contracts in writing, you don’t, but you have to protect yourself. Years ago, I had a big client, … Continue reading →

While there has been a push to allow 401(k) plan sponsors to offer retirement income solutions for participants, most plan sponsors aren’t interested in offering it. PGIM conducted a study that found that while seven out of 10 plan sponsors … Continue reading →

When I was 13 and I had my Bar Mitzvah, I plucked down about $2,000 in 1985 money for a state-of-the-art Apple IIe with a monochrome monitor. One of the first pieces of software I bought was that top desktop … Continue reading →

As an ERISA attorney who drafts plan documents at a flat fee, my biggest competitors are not other ERISA attorneys, but third-party administration (TPA) firms. Plan documents are just another service that TPAs can provide and they can provide it … Continue reading →

If you read my writings, you know that fiduciary liability is one of the plan sponsor’s more important concerns as a plan fiduciary. Since participant-directed plans under ERISA §404(c) are supposed to limit a plan sponsor’s liability, I have consistently … Continue reading →

I’ve watched Survivor since it first started about 23 years ago and I never tried out for the show. I’m unathletic and I can’t swim, I’d be the first one voted off. I’m also on the path of least resistance, … Continue reading →

When I first heard about ERISA §3(38) fiduciaries, I was a lowly law firm associate and I saw that it was going to be a growth area for advisors. According to PLANADVISER’s most recent survey about 15% of Defined Contributions … Continue reading →

I have a client who is a third-party administrator and it appears that a former employee put them in a bind by giving some truly awful advice to a client. The advice was that the plan sponsor could make a … Continue reading →

I always say a retirement plan provider needs to find its niche to stand out in the retirement plan marketplace. A new firm, Annuity Research & Consulting, has been created to help 401(k) retirement plan sponsors and their record keepers … Continue reading →

Minnesota is slated to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not. The state Senate approved the bill in a 34-33 vote. The House passed it in a 71-60 vote. The … Continue reading →