Monthly Archives: November 2025

If you ever want to know how strong your fiduciary process really is, don’t look at the investment lineup—look at your meeting minutes. I’ve reviewed enough plan files to know that some committees treat minutes like an afterthought. You’d see … Continue reading →

Every year, I see plan sponsors spend thousands on shiny “financial wellness” programs—apps, webinars, and surveys promising to fix participant behavior. Yet, the same plans still have high loan rates, poor deferral averages, and zero engagement. Why? Because you can’t … Continue reading →

In the retirement plan world, there aren’t many do-overs. You don’t get to “try again” after a fiduciary breach, a failed compliance test, or a DOL investigation. You get one shot to get it right. I’ve seen too many plan … Continue reading →

In this business, every conference has that one person who wants everyone to know they’re the smartest person in the room. They quote obscure ERISA sections, correct speakers mid-panel, and use acronyms like they’re throwing fastballs. The problem? No one … Continue reading →

When I started in this business, plan sponsors worried about lost checks. Now, they should be worried about lost data. Back then, if a participant’s address was wrong, you mailed a letter and hoped for the best. Today, if a … Continue reading →

I’ve been in this business long enough to know that the only thing “simple” about a 401(k) plan is the way people pretend it is. Every provider brochure says “turnkey,” “easy to administer,” or my personal favorite, “set it and … Continue reading →

Somewhere in Washington, someone at the Department of Labor must have a “Fiduciary Rule” dartboard. Every few years, they take a throw, hit a new buzzword, and decide it’s time for another rewrite. We’ve had more drafts of this rule … Continue reading →

Working with a plan sponsor recently, I was helping sort out a late Form 5500 issue. Pretty routine stuff, until I learned they’d already heard from the IRS about it a year ago. A year! It reminded me of my … Continue reading →

The U.S. Department of Labor has announced plans to revisit and likely revise the fiduciary-advice rule in 2026, signaling significant potential shifts for plan sponsors and advisers. Here are my key takeaways: · At issue is the definition of “fiduciary … Continue reading →

I’m encouraged by the DOL’s issuance of Advisory Opinion 2025-04A, which affirms that a managed-account strategy incorporating a lifetime income component can qualify as a Qualified Default Investment Alternative (QDIA). This is an important milestone for defined-contribution plans. Here are … Continue reading →