Recently I had the opportunity to be featured in an article about my retirement plan practice. As my plan sponsor clients know, I strongly believe that participating in a company 401(k) plan—and doing so early—can play a crucial role in an individual’s ability to retire.
Does Your 401(k) Plan Have a Roth Feature?
I know what you might be thinking.
“Roth 401(k)—what on earth is that?”
“I thought it was Roth IRA? Is this something better?”
As a plan sponsor, you should regularly review the options your plan provides to participants.
Target Date Funds, Explained
Today’s plan sponsors understand the benefit to offering a variety of fund choices in their investment lineup, allowing participants to diversify their 401(k) investments across a variety of asset classes. However, this still doesn’t solve one of the biggest concerns we hear from participants,
Should I Use Auto Enrollment for My Company’s 401(k) Plan?
There’s no question that plan sponsors are concerned about their employee’s retirement readiness. After all, it’s the reason why companies offer 401(k) plans in the first place.
When the auto enrollment feature was first rolled out a little over ten years ago,
Active vs Passive Investments in a 401(k) Plan: Which Meets the Fiduciary Standard?
Greetings! I hope you had a wonderful summer.
While I took a short break from blogging, the debate over active vs. passive management—and which is more appropriate for your firm’s 401(k) lineup—was really ramping up online. This is surely in light of the DOL’s move to implement the highly anticipated Fiduciary Rule.
Why it’s not a good idea to have your payroll provider be your 401-k TPA.
As a 401(k) advisor, it’s not uncommon to speak with plan sponsors who have used (or are considering) their payroll provider as their TPA. I don’t think that’s a good idea, and here’s one major reason why.
Retirement plans have a number of responsible fiduciaries,
Summary Plan Description: what is it? And what do plan sponsors need to know?
According to the Department of Labor, the Summary Plan Description (SPD) is one of the most important documents participants are entitled to receive automatically when becoming a participant of an ERISA covered retirement plan.
This is another legal obligation for the plan administrator—you must provide the Summary Plan Description to participants,
Compliance Calendar
With the personal income tax filing date behind us, I thought it was a good time to introduce our Compliance Calendar for plan sponsors. This helpful tool will help you keep track of important IRS deadlines for your defined contribution plan.
Document, document, document
So, like all policies that your company may have—how do you actually prove that you are following your plan’s Investment Policy Statement (IPS)? If the first question a Department of Labor Auditor asks is “where’s your IPS,” documentation that you are following your IPS is likely to be the second.
