Monthly Archives: January 2024

The IRS announced that the amendment deadline for most qualified retirement plans, including 401(k) plans, for several recent pieces of federal legislation generally has been extended by up to one year. The Notice, generally applies to plan amendments that are … Continue reading →

Timing is everything in life. When plan providers were trying to push Crypto in 401(k) plans, it took months for them to come to the market and the market crashed. I had Bitcoin at $69k with a $45k basis and … Continue reading →

While there have been a few lawsuits over the use of forfeitures in retirement plans, it’s important to follow what the plan document says. The Department of Labor (DOL) filed a complaint in the Federal District Court, Western District of … Continue reading →

Pooled Employer Plans (PEPs) are an attractive opportunity for small plans to mitigate the liability and hassle of a plan of their own. Many PEPs, including some that I run, were budgeted as if there would be no required audit … Continue reading →

Automatic enrollment is one of the best features of a 401(k) plan especially when it was finally codified into law in 2006. I think it helps participants save for retirement and helps increase participation, which can help with discrimination testing. … Continue reading →

You will hear about how certain retirement plan providers have won awards. Awards are impressive, but sometimes they’re not. You have to be wary as to who gave the award and what the award really means, You also shouldn’t just … Continue reading →

I have been doing government audits of retirement plans for over 25 years. The technology has changed, and you can fax or email what the agent has requested. The problem that I’ve found with that, is that they’re always losing … Continue reading →

Vestwell has raised $125 million in a Series D fundraising round led by Lightspeed Venture Partners. The funding will also go toward expanding Vestwell’s work on state-savings-program initiatives while creating other savings programs for partners, employers, and savers using Vestwell … Continue reading →

If there is one thing that over time, I’ve realized that people have a problem with the truth. I probably knew it from a certain time, probably college, that even opinions based on truthful facts can be a dangerous thing … Continue reading →

When I used to write the annual article that Paychex and ADP were lousy third-party administrators, I would get a nasty retort from people who worked there. It’s not personal, it’s business, and my experience with these payroll providers as … Continue reading →