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PENTalk™ – The Pentegra Smartpath™

The Pentegra SmartPathTM and the path to retirement readiness discusses best practices in plan design and savings strategies geared toward helping participants achieve more successful outcomes.

A Brave New Digital World

…establishing “a new, additional safe harbor for employee benefit plan administrators to use electronic media, as a default, to furnish information to participants and beneficiaries of plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).” And yes, that translates as email, text…

Form 5500 in 2021: What We Know Now

…usually the last day of the seventh month after the plan year ends (which is July 31 for a calendar-year plan). None of this should come as news to a plan administratorand if it does, address the situation immediately – but for those…

Everyone Into the Pool? Not So Fast…

…of 2019 (SECURE) Act. While it is a good thing to finally have this information in hand, there is still some concern that not everyone who wants to be a PPP should necessarily be one. A PPP acts as a PEP’s administrator and named fiduciary….

The SECURE Act Has Finally Passed – What Does It Mean? (Part Two)

…be defined contribution plans, with the same trustee, the same named fiduciary (or named fiduciaries) under ERISA, and the same administrator, using the same plan year, and providing the same investments or investment options to participants and beneficiaries. We support this part of the legislation,…

Why Non-Profits Should Embrace the 403(b) MEP

3(16) plan administrator and either a Section 3(21) investment advisor or 3(38) investment manager for the MEP. The burden of overseeing the program is shared by the participating non-profit organizations that are represented on the board, with all fiduciary duties other than oversight and monitoring…

Tales of 401(k) Administration Gone Awry – Part 2

…these problems – most of which a third-party administrator can address – but those which will remain one of your chores? Designing a plan smartly – and sticking with it – is of course the top priority. Doing so in a way that avoids doing…

Back to Basics: Record Retention

…be for a plan to respond to inquiries from a governmental agency or requests for information from plan participants. Whose responsibility is it? Generally, the burden of record retention falls on the plan administrator (the employer). However, it is possible that the job may be…

The Potential New Fiduciary Reality for Plan Sponsors

…the plan and managing the day-to-day administration. Under the most expansive scenario, the 3(16) administrative fiduciary accepts most, if not all, of the functions of the plan administrator as well as the legal title. To do things properly, each role and responsibility for the plan…

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

…He is a frequent speaker on retirement benefit topics; a Certified Pension Consultant (CPC); a Qualified Pension Administrator (QPA); a Qualified 401(k) Administrator (QKA); and a member of the American Society of Pension Professionals and Actuaries (ASPPA). He holds an M.B.A. in Finance from Fairleigh…

Hardship Cases Can Be Hard Work

…of the employer, and the participant’s contributions to all employer-deferred compensation plans must be suspended for six months. When a plan does not use the safe harbor definitions, the plan administrator must determine the existence of the financial need and the amount needed to satisfy…

Five Key Concerns for Retirement Plans in 2019

…which usually refers to instances where a plan fiduciary acts in its own – rather than its participants’ — best interests when administering a plan. “The 401(k) plans sponsored by over 40 financial firms – including most of the largest companies in this sector –…