Monthly Archives: July 2024

I think I learned in American politics that first semester in Stony Brook that if men were angels, there would be no need for government. If people did the right thing, there would be no need for government regulation. I’m … Continue reading →

A federal judge in Northern California stated HP Inc. doesn’t violate the Employee Retirement Income Security Act (ERISA) by using forfeited 401(k) money to pay contributions it’s required to make to the plan, by dismissing a proposed class action. HP … Continue reading →

The ERISA Industry Committee (ERIC) is pushing back on the Department of Labor (DOL) ask to require retirement plans to provide what it calls excessive amounts of participant information for its SECURE 2.0-mandated “Retirement Savings Lost and Found” database. ERIC … Continue reading →

A Vanguard published report found that the average participant deferral rate matched the historic high of 7.4% in 2023. When combined with employer contributions, the average participant’s savings rate kept pace with the all-time high of 11.7%, reached in 2022. … Continue reading →

For about a 25-year run, mutual funds dominated the 401(k) market, but signs are changing. A recent Cerulli report indicates CITs (Collective Investment Trusts) are currently on pace to overtake mutual funds as the most popular target-date vehicle in 2024, … Continue reading →

The best retirement plan committees I’ve seen are dedicated to the process. That means regularly scheduled meetings, a documented record, and adherence to board policies. I will always say that having no committee is better than having a committee that … Continue reading →

When you start fixing up the house (for me, a never-ending battle) and replacing appliances or items like the front door or the roof, you realize that the replacements are more energy-efficient. Replacing that old refrigerator or that washing machine … Continue reading →

I probably have drafted and amended thousands of plans over the years and every plan has its little quirks. When it comes to plan design, I have always believed that some of the bundled providers have it wrong. There is … Continue reading →

I have been practicing in the employee benefits world for almost 26 years and the beauty of it is that you learn something new every day. The laws and regulations change, attitudes change, and the business is constantly in a … Continue reading →

The reason I charge $100 a person (or usually $50 a person if they bring multiple people) to my live events is rather simple. It’s not about drawing money. I want to guarantee attendance. I’ve been to too many events … Continue reading →