Author Archives: admin

Retirement plans with more than 100 participants with account balances require a CPA audit for their Form 5500. However, small plans with less than 100 participants may sometimes require an audit. This often happens when more than 5% of the … Continue reading →

TIAA has entered into a strategic partnership with global advisory firm Accenture to help transform TIAA’s retirement recordkeeping capabilities and operations. The two companies will build enhanced experiences for plan participants with elevated digital capabilities across enrollment, money management features, … Continue reading →

Salesforce Inc. has settled a couple of outstanding 401(k) lawsuits alleging excessive retirement plan fees for $1.35 million. Plaintiffs claimed in separate 2020 lawsuits that were consolidated into one case, that Salesforce’s retirement plan committee and executives overseeing violated their … Continue reading →

The Department of Labor (DOL) updated current cybersecurity guidance for plans governed by the Employee Retirement Income Security Act, including health and welfare plans. The new Compliance Assistance Release provides best practices in cybersecurity for plan sponsors, plan fiduciaries, recordkeepers, … Continue reading →

The Alera Group Inc., from Deerfield, Illinois, announced the purchase of Minnesota-based Advanced Capital Group Inc. The deal brings $24 billion in a retirement plan and wealth assets, increasing Alera’s total retirement assets to $45 billion. Advanced Capital Group provides … Continue reading →

When I was at that semi-prestigious law firm many moons ago, I developed this plan review called the Retirement Plan Tune-Up. I’d look at the plan document, plan design, costs, the Fiduciary process, basically anything that the plan sponsor can … Continue reading →

I worked at a place where employees were passive-aggressive and never said anything about how things bad are, except when they stopped supplying free milk for the coffee machine. That was always my point in my fierce debate on automatic … Continue reading →

I’m glad that the Sixth Circuit has joined other Federal appeals courts in stating that arbitration provisions are invalid as a prospective waiver of rights and remedies guaranteed under ERISA. In this recent case, Parker v. Tenneco, the participants claimed … Continue reading →

I’m old enough to remember when they would do ads for the Yellow Pages and they told you should let your finger do the walking. When getting ready for that Internal Revenue Service audit, you may not need to let … Continue reading →

If you have a great product, but lousy distribution, you’re not going to do well. Yet the same thing is on the flip side if you have great distribution, but a lousy product. Whether it’s a pooled employer plan, a … Continue reading →