Monthly Archives: March 2020

The biggest change with the SECURE Act is that long term part-time employees will be eligible to partake n the deferral component of the plan. Employees who complete 500 hours of service or more for 3 consecutive years will be … Continue reading →

As I’ve said, plan provider mergers will continue and have sped up ever since fee disclosure regulations were implemented in 2012. Aon and Willis Towers Watson announced a plan to merge in a reported $30 billion all-stock transaction, resulting in … Continue reading →

I wasn’t around the Spanish Flu epidemic. My grandfather was and his older sister died of it at age 18 in 1918. This coronavirus isn’t as deadly as the Spanish Flu and we have the technology to limit the suffering … Continue reading →

CenturyLink successfully defended the class-action lawsuit filed against them. A federal judge granted CenturyLink’s motion for summary judgment, finding that they didn’t violate ERISA. The plaintiffs alleged CenturyLink breached its fiduciary duty under ERISA by poorly designing and failing to … Continue reading →

A lawsuit against the Invesco 401(k) plan has been settled for $3.47 million. Also, Invesco agreed to modify the investment options offered through the plan’s self-directed brokerage account option so that plan participants will be permitted to invest in non-proprietary … Continue reading →

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

A plan provider once asked me if I had written a full-blown article on why trustee directed 401(k) plans are better than participant-directed plans. I haven’t even if I believed in it (which I do), but it’s not going to … Continue reading →

I will always say that the plan providers who proclaim that they will make me rich have failed to do so. There is nothing wrong with dreams of retirement plan revenue gold, but you can’t afford to let that dream … Continue reading →

As long as there are 401(k) plan sponsors who don’t show concern over cost, there will always be ERISA litigators that will take a bite. The Vail Corporation has been sued for excessive fees in their Vail Resorts 401(k) Retirement … Continue reading →

I loved the scene in the movie Donnie Brasco where the gang needs to make money for their boss’ take and they’re trying to hammer money out of a parking meter. In similar news, Fidelity has changed its focus on … Continue reading →