Monthly Archives: October 2024

A long-time advisor-client called with a chuckle that both he and I were right and a partner at a law firm admitted that we were. I said it’s better to be right than wrong, but too many providers out there … Continue reading →

Company A wants to buy Company B and everyone wants to terminate Company B’s 401(k) Plan. In an ideal world, this should be done before the closing date of the deal. If A has a plan and wants to terminate … Continue reading →

For those aged 55-64 the average 401(k) account balance is $244,750. The median account balance is $87,571. No matter the occupation, that amount of money isn’t enough for retirement. It shows that no matter, we still have a retirement crisis … Continue reading →

Nvidia Corp. has reached a proposed settlement with former participants of the company’s 401(k) plan over claims that they were forced to pay exorbitant administrative fees The participants had claimed that the size of Nvidia’s 401(k) plan should have entitled … Continue reading →

Walgreens announced the launch of its Student Loan 401(k) Match Program, a benefit for student loan borrowers who are 401(k) participants that were made available by the SECURE 2.0 Act of 2022. The benefit will be available to plan partcipants … Continue reading →

It’s all friendly between the plan sponsor and the Third-Party Administrator (TPA) until the plan sponsor wants to make a change. Then it could get nasty when the TPA wants to be compensated for doing work for the reconversion process. … Continue reading →

We have a Pooled Employer Plan (PEP) for so many things, so a Pot PEP seems OK. The North American Companies Council (NACC), a 501(c)(6) not-for-profit in the cannabis industry started offering a 401(k) Pooled Employer Plan (PEP) to its … Continue reading →

When drafting new 401(k) plans for clients during the middle of the year, I like drafting them with an effective date of the first of the year and with deferrals effective as of when they can run the plan with … Continue reading →

In England, many of the top pubs are owned by British breweries because watering holes are an effective means of beer distribution. Pepsico (owners of Pepsi) used to own Yum Brands (KFC, Taco Bell, Pizza Hut, etc.) for that very … Continue reading →

Fidelity is clamping down on third-party access to 401(k) plans, which will likely restrict outside advisors from managing clients’ assets in those accounts. Fidelity said it would “begin taking steps to prevent platforms reliant on credential sharing from accessing and … Continue reading →