Monthly Archives: September 2026

One thing plan sponsors need to understand about a 401(k) plan is that it has a very long memory. Employees leave. Human resources people leave. Payroll companies change. TPAs get fired. Recordkeepers get replaced. The company may even be sold. … Continue reading →

Getting a new retirement plan client is exciting. There is the proposal, the presentation, the promises about service, technology, responsiveness, and how everything will be better than what the plan sponsor has today. Everyone is on their best behavior because … Continue reading →

There is an old saying that the customer is always right. When it comes to a retirement plan, the owner isn’t always right. I’ve dealt with enough plan sponsors over the years to know that business owners are used to … Continue reading →

Plan sponsors sign a lot of paperwork when it comes to their 401(k) plan. Plan documents. Amendments. Recordkeeping agreements. Investment paperwork. Payroll authorizations. TPA agreements. My advice is pretty simple: don’t sign something you don’t understand. One area where this … Continue reading →

There are certain problems in life where waiting might actually help. Late 401(k) deposits aren’t one of them. Employee salary deferrals are plan assets once they’re withheld from employees’ paychecks and are required to be deposited into the plan on … Continue reading →

One of the biggest sources of confusion for 401(k) plan sponsors is figuring out who is actually responsible for what. You have a financial advisor. You have a TPA. You have a recordkeeper. Maybe you have an ERISA attorney. Everybody … Continue reading →

Every year, most 401(k) plan sponsors get a Form 5500 from their TPA or other provider with instructions to electronically sign and file it. And I’m convinced plenty of plan sponsors spend more time deciding what they want for lunch … Continue reading →

One of the biggest mistakes retirement plan providers make is assuming every client wants to be serviced the same way. They don’t. I’ve had clients who want to talk regularly. They want explanations. They want reminders. They want somebody holding … Continue reading →

One of the easiest ways for a retirement plan provider to lose business is also one of the easiest things to fix: stop making the financial advisor chase you. I’ve been in the retirement plan business long enough to know … Continue reading →

I’m generally not a big fan of government mandates. In the retirement plan business, however, it’s hard to argue with results when a mandate actually accomplishes what it was designed to do. New research from Gusto shows just how much … Continue reading →