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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,…

Some Thoughts on the ESG Disclosure Bill

A package that included H.R. 1187, the Corporate Governance Improvement and Investor Protection Act, was passed by the U.S. House of Representatives by just one vote, 215-214, on June 16. The bill, whose future in the Senate remains unclear at this time, would require publicly…

DOL: Tread Carefully When It Comes to ESG Investing

Proponents of Environmental, Social, and Corporate Governance (ESG) investing are probably not big fans of the recent guidance issued by the U.S. Department of Labor (DOL) . On November 13, the DOL announced a final rule intended to provide clear regulatory guideposts for fiduciaries of…

Our History

…the Centre for Fiduciary Excellence, demonstrating our commitment to the best practices in the industry.   Today, with assets of nearly $16 billion, Pentegra is a leading provider of qualified and non-qualified plan, fiduciary outsourcing, BOLI and institutional investment solutions to clients and advisor-partners nationwide….

Not So PEPpy? Think Group of Plans

…– SEP, PEP, GoP, or MEP – outsourcing fiduciary duty to a reputable third party can save time, money and hassle. A third-party administrator (TPA) is, by design, someone who can keep track of all of the regulations, deadlines, changes, and other ins and outs…

SECURE – What It Can Mean for Small Businesses

…contribution plans. To be eligible, GoP member plans must – among other things — be an individual account plan or defined contribution plan; operate under the same trustees; and have the same designated fiduciary or fiduciaries. GoPs are scheduled to be made available in 2022….

Target Date Funds

…DEFERRED INVESTMENT ALTERNATIVE (QDIA)? When a participant fails to make an investment fund choice for their 401(k) contribution, the plan fiduciary may be required to step in and make that decision, depending upon plan options. If the plan has approved QDIA, the plan fiduciary would…

Your Company’s Retirement Plan – Time for a Check-up?

…employers to notify the IRS or pay a fee. Errors that cannot be resolved using the SCP often can be corrected (for a fee) under the Voluntary Correction Program. Additionally, the U.S. Department of Labor has a Voluntary Fiduciary Correction Program for certain fiduciary violations….

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

…that did not happen in this situation. As a result, the company’s fiduciary made distributions to the children once the employee died – without the second wife’s consent – resulting in that wife suing the company. So what can be done to address not only…

Getting Ready for a PEP Rally!

…of PEPs allow the participating employers to benefit from lower fees than in traditional single employer plans. In the RFI, the DOL states: PEPs are required to designate a pooled plan provider who is a named fiduciary of the PEP. As a fiduciary, the pooled…

More Tales of 401(k) Plans Gone Awry

…of its plan participants, in accordance with the stipulation that anyone serving as an Employee Retirement Income Security Act of 1974 (ERISA) fiduciary has the authority to control and manage the operation of a retirement plan, but must do so solely in the best interest…

Five Retirement Plan Changes that Employers Should Consider

…nearly 90 percent of plan sponsors do just that. But while that may be legal, it gets into a grey area when considering the Department of Labor’s fiduciary rule, which in effect says that plan sponsors are fiduciaries and, as such, must make decisions that…