…popularity, including the newest arrangements that credit interest based on market performance. The plan design discussion should no longer be limited to picking between one or the other—DB vs. DC, but, potentially, a combination of DB and DC. Why not have the best of both…
…have the plan design conversation? Cash Balance 101. Our virtual classroom is open and we want to provide you with the knowledge you need! Core Curriculum Plan Design best practices Strategic selection – which clients may be the best fit and why Talking points for…
…the plan. The named plan administrator is responsible for many things including: making sure eligibility is determined correctly, making sure that a number of required notices and mailings go out every year, making sure that plan-related payroll is properly processed and more. They are also…
…greatest standard of care—or risk personal liability if they fall short. Employers Are Fiduciaries By default, employers (plan sponsors) are fiduciaries of the retirement plans that they maintain. First, Section 3(16) of the Employee Retirement Income Security Act of 1974 (ERISA) defines “plan administrator” as…
…have many plan designs and options to offer depending on what we determine may be a best fit for your clients. The temptation is to quote them what they ask for. We think the better approach is to first invest a little time in understanding…
…the right words so clients feel like they have a true partner. For example, discuss how and when you partner with attorneys, CPAs, and TPAs and recordkeepers to bring best-in-class service. Communicate how you proactively look for opportunities to optimize participation. Demonstrate how you and…
…we provide insights into what’s involved with nondiscrimination testing and what you need to know: Timing Satisfying the IRS Code Contributing factors for plan testing failure Plan design best practices We will also provide some working examples that will help with the overall planning picture….
…as employee status. It is also one of the top sources of plan errors that can have long term, expensive consequences. The start of the new year is an ideal time to learn more about best practices in compensation reporting to improve your plan’s outcomes….
With the Department of Labor regulations on investment advice fiduciaries vacated, the industry reverts to prior guidance on the proper steps to completing a compliant IRA rollover, including best practices as outlined in FINRA Notice 13-45. Attend this course to understand the changing rollover reality;…
…income. Was this an oversight or error on Congress’s part? Further clarification is needed. Plan sponsors and administrators will also need a mechanism, like the one for Roth IRAs, to recharacterize pre-tax catch-up contributions to designated Roth catch-ups and vice versa. Sponsors can provide de…
…needs and goals. To be an effective advisor, it’s important to recognize these distinctions and ask the right questions to determine the 401k that best fits your clients’ needs. And in a competitive environment, our ability to customize their plan and experience can make all…