…half of them offer a retirement plan to their employees. Attend this course to understand the important role small businesses play in helping U.S. workers save for retirement; see how a plan governance process may help reduce fiduciary liability; identify plan design elements that may…
“When it comes to the fiduciary administrative oversight of a retirement plan, although most plan sponsors are the Named Fiduciary of their plan, the truth is that they are not aware of the myriad of fiduciary administrative responsibilities that come with that role, or that…
…plan sponsor to fiduciary risk by making the decision to direct such contributions. As a result, the industry and regulators realized that it was important to establish what would become known as a Qualified Default Investment Alternative or QDIA. A QDIA is designed to meet…
…fiduciary obligations as a plan sponsor. WHAT SHOULD I BE LOOKING AT WHEN DETERMINING THE EFFECTIVENESS OF MY ORGANIZATION’S RETIREMENT PLAN? Measuring your plan’s success is more than simply evaluating plan deferral and participation rates it includes measuring fiduciary responsibilities, the degree to which plans…
…up yet—anything can happen. Rewriting the Fiduciary Regulations Putting a hold on pending effective dates of new regulations imposed by predecessors is something virtually every new president does. The expectation prior to November 8 was that Clinton would win and that she would support the…
…that covers unrelated employers while transferring many of the responsibilities and liabilities associated with being a named fiduciary to the MEP. Non-profits looking to reap the benefits of a 401(k) MEP can do so via a 403(b) MEP. Available to non-profit employers, a 403(b) can…
…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,…
The SECURE Act of 2022 (“SECURE 2.0”) was passed by Congress and signed into law by President Biden on December 29th, 2022. The law contains 92 provisions, many of which are designed to expand retirement savings and coverage and simplify retirement plan rules. A number…
SECURE Act 2.0 of 2022 made many changes to 401(k)s and other types of retirement plans. Overall, these changes were designed to enhance the retirement plan experience for millions of participants. Features such as matching student loan payments, emergency savings accounts and Saver’s Match (formerly…
By now you’ve heard that SECURE Act 2.0 contains over 90 provisions affecting retirement plans and IRAs and we are still anxiously awaiting more implementation guidance from the Department of Labor and IRS. Which provisions weigh heaviest on the minds of plan sponsors? The top…
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…
…– 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…