Category Archives: Retirement Plans

Another Year, Another Reminder: Fees Still Matter – Especially for Small Plans

Posted on July 3, 2025 by admin

The just-released 25th Edition of the 401k Averages Book confirms what many of us on the fiduciary side have known—and preached—for years: fees continue to fall, but not evenly. While this is welcome news, it’s also a wake-up call for … Continue reading →

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There’s a hard truth in life, and I learned it the long, slow, and silent way: if you don’t speak up for yourself, you’ll be passed over, stepped on, and probably volunteered to clean up after someone else’s kugel spill. As I wrote in Full Circle, back in my teenage years at Young People’s Synagogue at East Midwood Jewish Center, I played the role of the dutiful nice guy. You know, the one who showed up early, stayed late, and never got the title—kind of like the unpaid intern who’s somehow also your carpool ride. Leadership roles were doled out like parts in a high school musical directed by someone’s passive-aggressive older cousin. The person assigning them? A college student named Adam. And every year, Adam gave me the same role: guy who does everything and gets nothing. He made people co-officers who didn’t even show up. He passed me over for president like it was a sacred tradition. And what did I do? Nothing. I sat there quietly, like a mensch with a clipboard, smiling through clenched teeth and rationalizing, “Maybe next year.” Spoiler: next year never came. Fast forward a couple of decades, and the stakes are a little higher now than who leads Shabbat announcements. I’m running my own law firm, negotiating retainers, and trying to deliver ERISA compliance without losing my mind—or my voice. So when a client recently slighted me, again and again—ignoring my reasonable request to revise a retainer agreement—I remembered Adam. And I remembered that feeling. The one where you know you’re being taken for granted, but you stay silent because it’s easier. Only this time, I wasn’t seventeen. This time, I said something. Actually, I said everything. I warned one of the client’s employees, “I’ve got one foot out the door.” A week later, I picked up the other foot and walked. I quit. And it felt… amazing. Liberating. Like finally being promoted to president of a synagogue you no longer care about. Here’s the truth: no one’s coming to rescue you. No one’s handing you the title, the recognition, or the revised contract. If you’re waiting for fairness to find you, it’s probably stuck in traffic behind a bar mitzvah procession. So speak up. For your fees. For your worth. For your teenage self who should have gotten the gavel instead of the handout flyer duty. Because being silent doesn’t make you righteous—it just makes you invisible.

Posted on July 3, 2025 by admin

I’m not anti-life insurance. In fact, I have life insurance, and I believe it’s one of the most important financial tools out there for protecting your loved ones. But when it comes to stuffing life insurance into a 401(k) plan, … Continue reading →

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Speak Up, or Prepare to Be Stepped On (and Possibly Assigned to Kiddush Duty… Again)

Posted on July 3, 2025 by admin

There’s a hard truth in life, and I learned it the long, slow, and silent way: if you don’t speak up for yourself, you’ll be passed over, stepped on, and probably volunteered to clean up after someone else’s kugel spill. … Continue reading →

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Josh Itzoe Launches Fiduciary U: A New Era in 401(k) Committee Education

Posted on July 3, 2025 by admin

Let me be honest: most fiduciary training out there is about as exciting as watching paint dry in a compliance office. It’s often a checkbox exercise—generic, outdated, and completely divorced from the real-world problems that retirement plan fiduciaries face every … Continue reading →

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Forfeitures, Fiduciary Failures, and Cigna: Another Lesson in ERISA Risk

Posted on July 3, 2025 by admin

Another week, another Adams v. Goliath story in the world of ERISA litigation—and this time, Goliath is Cigna. The company is now facing its second lawsuit in as many months over how it handled forfeitures in its $13 billion 401(k) … Continue reading →

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There is a difference between TPAs

Posted on June 28, 2025 by admin

In any service industry, there’s a wide range of quality and pricing. People often tell me I focus too much on third-party administrators (TPAs), but that’s where I’ve spent a lot of my career—as an ERISA attorney and former TPA … Continue reading →

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There is a cost to those free plans

Posted on June 28, 2025 by admin

There’s nothing wrong with “free” — unless there’s a hidden cost lurking beneath the surface. Small business plans that don’t require filing a Form 5500 might sound great on paper, but when you look closer, you realize the real cost … Continue reading →

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Workplace Retirement Plans: Participation Is Up, But So Is Financial Stress

Posted on June 28, 2025 by admin

Retirement plan participation is up, but don’t pop the champagne just yet. According to Morgan Stanley at Work’s just-released State of the Workplace Report, while more employees are enrolling in their 401(k) plans, many are also slamming the brakes on … Continue reading →

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DOL changes opinion letter program

Posted on June 28, 2025 by admin

The Department of Labor just announced that its Employee Benefits Security Administration (EBSA) is giving its opinion letter program a much-needed facelift. For those of us who’ve been around the retirement plan block a few times, this is welcome news—because … Continue reading →

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Fidelity’s Q1 2025 Retirement Data: Encouraging Signals, But Let’s Keep It Real

Posted on June 28, 2025 by admin

Fidelity just dropped their Q1 2025 retirement analysis, and while average balances for 401(k), 403(b), and IRAs dipped slightly due to market volatility, there’s some good news buried under the market noise: participants didn’t panic. Contribution rates remained strong, with … Continue reading →

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