Retirement Plan Administration

If You Are A Plan Sponsor, You Are a Plan Fiduciary A retirement plan sponsor has obligations and responsibilities to its employees who participate in the retirement plan. Through the Named Fiduciary, the sponsor has the duty to make prudent decisions with regard to the plan and to make such decisions solely in the interest […]

Considering a New Service Provider for Your 401k Plan? Here are some key questions to ask:  Choosing a new retirement plan is a massive undertaking. When you are moving millions of dollars in a retirement plan, it is important to consider the many facets of this complex relationship in both the long and short term. 

Business owners have a lot of responsibilities. One of the most nebulous may be their fiduciary responsibility for the selection of investment options within their company’s qualified retirement plan. While the Employee Retirement Income Security Act of 1974 (ERISA) guidelines identify two different types of investment fiduciaries in sections 3(21) and 3(38), it is often

Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans.   Adding to this, a survey found that 43% of company fiduciaries don’t actually think

With the mandatory auto enrollment rules set to take effect in 2025, employers need to take proactive steps to ensure compliance and minimize potential disruptions. Understanding the necessary adjustments, staying informed on regulatory changes, and planning ahead will help businesses navigate these new requirements smoothly. Key Steps for Employers   Review Your Current Retirement Plan

The mandatory auto-enrollment rules under SECURE 2.0 apply differently to retirement plans depending on when they were established. Employers need to understand the distinction between pre-enactment and post-enactment plans to ensure compliance and avoid unintended penalties. What Is a Pre-Enactment Plan? A pre-enactment plan is any 401(k) or 403(b) plan that was established before December

The new mandatory auto-enrollment rules bring significant changes, but not all businesses are affected in the same way. Small businesses and multiple employer plans (MEPs) have specific exemptions and considerations that employers should understand as they prepare for the upcoming changes. How Small Businesses Are Affected Small businesses, defined as those with 10 or fewer

The SECURE 2.0 Act of 2022 is bringing some big changes to 401(k) and 403(b) plans, including a new rule that requires most newly established plans to include automatic enrollment. With the 2025 deadline approaching, it’s important for employers to understand what this means and how to prepare. Who Needs to Pay Attention to the

Target date funds are in high demand these days. According to a recent Sway Research study, total TDF assets reached $3.5 trillion in 2023 — a record level. Moreover, mutual fund target dates began 2024 slightly ahead of collective investment trusts, holding $1.76 trillion in assets compared to $1.71 trillion in CITs, TDF assets in

Congress releases SECURE 2.0 technical corrections discussion draft On December 6, 2023, the committees of jurisdiction (the Committee on Health, Education, Labor and Pensions (HELP), the House Committee on Ways and Means, and the Education and the Workforce Committee) released a “discussion draft”1 of proposed technical corrections to the retirement plan-related portions of SECURE Act