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Tales of 401(k) Administration Gone Awry – Part 1

…a new executive at a company with about 250 employees, who acted as a kind of CFO/payroll office manager combination, but who didn’t have a lot of experience with retirement plans. The firm’s benefits had a 90-day requirement for eligibility; its 401(k) plan document also…

Rapid Pace of Legislation in 2020 Could Be Eclipsed by This Year’s

…in some quarters – and the fact that the Democratic party now controls both houses of Congress as well as the chief executive chair could bode well for SSRA and other legislative efforts in the retirement savings sector. Already Biden has signed an executive order…

Thinking of Taking a Loan from Your 401(k)? Not So Fast!

…Senior Vice President of Client Services at Pentegra Retirement Services, a leading provider of retirement planning services to financial institutions and organizations nationwide, founded by the Federal Home Loan Bank System in 1943. Rausser oversees consulting, BOLI, actuarial, communications, and marketing practice groups at Pentegra….

Check Fiduciary Liability Coverage

…her duty to the plan. Commonly, the employer purchases the insurance as part of the overall compensation package of company executives who assume responsibility over the company’s benefit plan. Check Coverage Carefully Fiduciary liability insurance coverage varies widely from policy to policy, so it’s important…

Electronic Delivery of 401(k) Information: An Idea Whose Time Has Come

…based on estimates that more than 80 million 401(k) plan participants receive eight mailings per year. It is important to note that these efforts are a result of an August 2018 Executive Order signed by President Donald Trump, “Strengthening Retirement Security in America.” Part of…

A Wish List for Santa

…blocks for many business owners and executives, who often feel that their focus should be on their jobs and not on the legal, moral and ethical obligations involved with being a fiduciary of a retirement plan. By outsourcing the fiduciary role to a knowledgeable third-party…

The Ins and Outs of Fiduciary Outsourcing for Community Banks

…without saying – it is incumbent upon the relevant community bank executive to read all communiques from the third-party fiduciary, and to ask and follow through on any questions or concerns. None of these duties should be particularly onerous, especially if you have chosen a…