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Credit Unions: Make Sure You Know Your Fiduciary

…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…

Lifetime Income Illustrations

…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…

SECURE 2.0 – The Top Five Provisions Plan Sponsors Ask About

…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…

Making a Good 401(k) Plan Even Better

…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….

The 401(k) Plan of the Future

…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….

Help Clients Find the 401(k) That’s Right For Them

…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…

Pensions, Retirement & Markets: 5 Questions for 2019

…(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;…

Managing An Aging Parent’s Finances

…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…

It’s All About Relationships

…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

Of Course Your Clients are Fiduciaries

…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….