Monthly Archives: November 2019

Correct the late deferral issue correctly

Correcting your late deferrals by depositing them and making a contribution to make up for lost earnings in your 401(k) plan isn’t enough. Why? Well, Form 5500 requires you to truthfully answer whether you have late deferrals. If you answer … Continue reading

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Get those safe harbor notices out

If you have a safe harbor 401(k) plan or plan on adding that provision to your plan, keep in mind that you must hand out notices to plan participants before December 1. It’s an excellent provision and the last thing … Continue reading

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IRS proposes changes to life expectancy tables

People complain a lot about life these days, but one fun fact is that people are living longer than they did just 20 years ago. Thankfully, the Internal revenue Service (IRS) noticed too. The IRS has proposed a new rule … Continue reading

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Don’t Let Your 401(k) Plan Turn Into A Disaster Movie

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

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It’s so apparent, they still won’t see it

There are so many times in business where you may craft the greatest idea out there that will make people money that they’d accept, but they still won’t. When I was at that semi-prestigious law firm, they had a rule … Continue reading

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Make sure your custodian knows who the trustees are

If you’re a closely held business or not, changes do happen. Whether it’s leadership or who serves as your plan’s trustee, change will likely happen. The problem sometimes is when the plan document has been updated to reflect who the … Continue reading

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That Estee Lauder 401(k) case is troubling

I worked at a third-party administration (TPA) where one of our administrators tried to steal money from a participant’s account and transfer it to his Individual Retirement Account (IRA),. The only reason he got caught because he messed up the … Continue reading

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DOL releases new e-disclosure rule

The Department of Labor (DOL) proposed a new rule to allow retirement plan disclosures to be posted online. The new rule allows plan administrators to post any document that the administrator is required to furnish under ERISA on the plan … Continue reading

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The Best Way A Plan Sponsor Can Avoid 401(k) Headaches Is By Hiring The Right TPA

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

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A useless statistic on Target Date Funds

I’m not a big fan of target-date funds and that bias goes back to the implosion of the stock market in 2008-2010, where I thought older workers didn’t realize that their target-date funds had so much equity exposure. I also … Continue reading

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