Category Archives: Retirement Plans

A plan sponsor was spared from a 403(b) lawsuit, but the advisor is still on the hook. Two plaintiffs filed a complaint in Texas federal court against their employer, Legacy Counseling Center, Inc. the plan’s manager, Peveto Financial Group, LLC. … Continue reading →

U.S. Bank and its 401(k) Savings Plan is the latest target of a class action lawsuit in Minnesota. According to the complaint, from the years 2016 through 2021, the Plan paid an effective average annual administration fee of $41 per … Continue reading →

They said in Field of Dreams that if you build it, they will come. I think when it comes to offering participants the right to after-tax matching and profit-sharing contributions, I don’t think that is a SECURE 2.0 provision that … Continue reading →

The idea that we can have 403(b) Pooled Employer Plans is great news because what could work well for 401(k) plans, may mean great stuff for 403(b) plans. The problem with 403(b) plans has always been in the non-ERISA space, … Continue reading →

Any legislation that is supposed to benefit taxpayers, there is a hidden cost. Look at the Tax Reform Act of 1986, temporary reductions in marginal traded for deductions that were lost for good such as personal interest, most IRA contributions, … Continue reading →

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Life goes fast. Feels about 10 years ago that I started as an ERISA attorney in practice and that was almost 25 years ago. It’s 2023 and before you know it, it will be 2024. It is time for you … Continue reading →

I think the Solo 401(k) plan is one of the great treats for sole proprietors. I have been using it for years. The problem is that there is so little help, that sponsors of these plans fall into a trap … Continue reading →