Author Archives: admin

No one who claimed to make me rich ever did. No person who had thousands of potential clients for a PEP really scored more than 1% of what they thought they could get. The road to hell is paved with … Continue reading →

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

With January 1st coming down the pike, many in the retirement plan industry have issued a sigh of relief. The Internal Revenue Service (IRS) has now announced an administrative transition period for the new catch-up contribution requirements under the SECURE … Continue reading →

Millennium Trust Company, announced its plan to rebrand as Inspira Financial. The transformation unifies Millennium Trust and its portfolio of technology-enabled solutions, including PayFlex, under a single brand. The brand change will officially launch in early 2024. Created in 2000, … Continue reading →

State automatic retirement programs have finally accumulated more than $1 billion in assets, according to data collected by the Center for Retirement Initiatives at Georgetown University. That is a significant step, but not a huge sum when you figure 19 … Continue reading →

Not enough plan sponsors and plan providers talk about cyberattacks and they should. The massive MOVEit cyberattack breached the personal data of millions of participants in public pension and private-sector workplace retirement plans. The cyber attack by the Russian ransomware … Continue reading →

Stealing a line from Chris Rock, I once joked while working at a third-party administrator (TPA) that if you wanted to hide something from one of our inexperienced plan administrators, you should hide it in the plan document file. So … Continue reading →

The fact is that sometimes, bad things happen to good people. That can be said about retirement plans and the good plan sponsors and providers who do their job. No matter how great a job they do, the threat of … Continue reading →

Over the past few years, more and more workers have become gig workers. In reality, they are just sole proprietors, that make a living, project to project. Their retirement savings usually revolve around SEPs, SIMPLE-IRAs, and Solo 401(k)s. I once … Continue reading →

January 1, 2024, will be 3 years of Pooled Employer Plans (PEPs). While new PEPs have been launched with lots of fanfare, I’m sure there are a few dozen PEPs that have quietly closed their doors. Unless you’re a national … Continue reading →