Monthly Archives: November 2024

I had to be the Larry David here, but one of my gripes as a plan fiduciary and ERISA attorney is when third-party administrators (TPAs) or custodians screw up on paying fees. I will have one plan where every quarter, … Continue reading →

When a plan terminates and distributes all its assets or merges all its assets into another plan, you need to understand that a Final Form 5500 needs to be completed. Otherwise, you will get notified by the Internal Revenue Service … Continue reading →

I write a lot because social media gets my name out there at a much lower cost than hiring a public relations. Director. I know because I’ve been there and done that. I write articles, I blog, and I started … Continue reading →

When your practice is successful as a retirement plan provider, you’re going to want to hire people who work outside the retirement plan business to help you manage your firm because the day-to-day running of a business doesn’t just need … Continue reading →

Going for that annual review was like going to a dentist if I had cavities. You know it would be painful because you’d hear how awful you were all year, so they could cut back on whatever salary increase you … Continue reading →

According to FinanceBuzz, 40% of Americans with retirement accounts have taken money out of them early, including more than 10% who have done so multiple times. The average amount of money withdrawn by is $15,021. These numbers are alarming, but … Continue reading →

Everyone is pushing lifetime income options for retirees because the fear is that there will be nothing left for retirees as they live longer. T. Rowe Price announced the launch of Managed Lifetime Income (MLI), a new retirement solution designed … Continue reading →

I work (outside of plan audits) on a flat fee basis. What I say is the price is the price. If I misjudged the value of a service, the fault lies with me. I still live up to the bargain … Continue reading →

Over the last few years, we’ve seen the proliferation of companies offering ERISA §3(16) services. This is a natural growth of advisors offering ERISA §3(38) services, so 3(16) was a great way for third-party administrators (TPAs). Like 3(38), TPAs and … Continue reading →

I was against Automatic Enrollment before I was for it. When it finally became part of the Internal Revenue Code, plan sponsors got liability protection through using the QDIA. While I like that plan sponsors under SECURE 2.0 will have … Continue reading →