…a 3(16) fiduciary acts as the sole plan administrator, and therefore is responsible for managing the plan’s day-to-day operations. A 3(38) fiduciary can only be a bank, insurance company, or registered investment adviser; here the plan sponsor hands over authority to the 3(38) fiduciary to…
…legislation will help give workers more flexibility to foot the bill for an unexpected emergency expense.” The proposed legislation has received what can best be described as mixed reviews. The American Retirement Association (ARA), which includes the American Society of Pension Professionals & Actuaries (ASPPA),…
…The DOL is expected to issue final rules, but, in the meantime, plan administrators should be ready to comply with the disclosure requirements based on the current guidance. Participant-directed DC plan sponsors must provide the LIIs to participants no later than with the second quarterly…
…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…
…Pentegra SmartPath™ is a series of progressive plan design metrics crafted in a way to best ensure successful retirement outcomes by helping participants set a reasonable level of savings, increase their contributions over time, achieve proper investment diversification and best maximize a plan’s investment alternatives….
…Pentegra SmartPath™ is a series of progressive plan design metrics crafted in a way to best ensure successful retirement outcomes by helping participants set a reasonable level of savings, increase their contributions over time, achieve proper investment diversification and best maximize a plan’s investment alternatives….
…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…
…(SEC), which issued its proposed best-interest standards in April 2018, which would require broker-dealers to disclose conflicts of interest and to “exercise reasonable diligence, care, skill and prudence” to ensure they are selling products and carrying out transactions that are in a client’s best interest.1;…
…lead in many family conversations. Openly discussing finances can be daunting at the best of times, for both sides, and involves a considerable level of trust when talking about the child taking over the parent’s assets. It’s a kind of role reversal, but those talks…
…we focus on how we reduce complexity, how we reduce risk and how we deliver a great relationship – all things that differentiate us best. It’s no surprise that many of the people and companies we meet find it difficult to understand the vocabulary and…
…saved for retirement! Increase your 401(k) savings rate every time you get a pay raise. Remember the old adage, you won’t miss it if you never had it? Making tax-deferred contributions is one of the best ways to save. Pretax salary deferrals reduce current taxes…
…behalf of the plan. Some number of plan sponsors don’t know this even though we try to do our best to make this clear. There are real and serious consequences for them and for your relationship with them if they don’t execute their role well….