Author Archives: admin

Schwab’s Q3 2023 SDBA Indicators Report, a report on self directed brokerage accounts (SDBAs) shows that average account balances finished at $287,769 for the third quarter of 2023, with an increase of 5.3% year-over-year but down 9.2% from $316,826 in … Continue reading →

KeyBank Institutional Advisors (IA) announced the launch of a new pooled employer plan for 401(k) plans that will be effective January 1, 2024. KeyBank IA will serve as the ERISA 3(38)-investment manager. Transamerica will serve as the recordkeeper, and Pentegra … Continue reading →

I have handled more audits in the past six months, than in the past 5 years. Whether it’s the Internal Revenue Service or the Department of Labor, I’ve had many cases. Most are of the garden variety, random audits. Many … Continue reading →

I handle my investments. I work with financial advisors around the country, they are the best referral sources for clients. If I ever made enough money where I need a financial advisor, I’ll likely consider someone I. have worked with … Continue reading →

It looked great on paper, Pooled Employer Plans (PEPs) needed an audit only if they hit 1,000 participants or if they had an adopting employer with 100 or more participants. The Internal Revenue Service and Department of Labor clarified that … Continue reading →

I will reiterate that almost all small and medium-sized 401(k) plans are immune from 401(k) litigation by current or former participants because ERISA attorneys aren’t likely to make money. The problem is: what is small? For me, small is something … Continue reading →

My daughter works at the local pizzeria. I can’t imagine they would offer a retirement plan until New York requires them to do so when the state IRA program goes into effect. Again, I’m a big fan of the state … Continue reading →

The reason I like state-mandated IRA programs for employers is because it increases retirement plan coverage and it nudges employers to offer plans of their own since they distrust the government. A recent study by Gusto shows that, concerning the … Continue reading →

My latest article for JDSupra.com can be found here.

My latest article for JDSupra.com can be found here.